Zuora Recognized as a Leader in the IDC MarketScape for Subscription Management Applications
January 08 2020 - 5:13PM
Business Wire
Zuora, Inc., (NYSE:ZUO) the leading cloud-based subscription
management platform provider, announced today that it was
recognized for the second time in a row as a Leader by the IDC
MarketScape1. The new IDC MarketScape: Worldwide Subscription
Management 2019-2020 Vendor Assessment2 recommends to consider
Zuora® when “you need a comprehensive subscription management
offering for companies of all sizes and industries.”
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Zuora Recognized as a Leader in the IDC
MarketScape: Worldwide Subscription Management 2019-2020 Vendor
Assessment (Doc #US44867519, January 2020) (Graphic: Business
Wire)
“The need for these applications has exploded over the past 20
years, as the world has seen a massive change in business models
from selling widgets to selling service-driven solutions,” wrote
report author Mark Thomason, Research Director for IDC responsible
for Digital Business Models and Monetization practice. “Outside of
the efficiency gains previously outlined, the main driver of the
move toward subscriptions is the quest for durable recurring
revenue, as starting the year off knowing how much revenue the
company is likely to make is a wonderful thing that leads to higher
company valuations and better financing terms.”
The IDC MarketScape report profiled Zuora’s strengths, including
its platform analytics and automation, business model agility and
revenue recognition solution. The report highlights the breadth of
capabilities within the Zuora Central Platform: “Customers highly
valued Zuora's broad feature set to enable recurring business
models. Customers cited the platform's flexibility, extensive
pricing models, discount and promotional charge models,
multi-currency support, virtual goods, and mature
mediation/usage/consumption pricing features,” wrote Thomason.
Customers also highly appreciated Zuora’s customer success
process, multiple training programs, documentation of APIs, and
high customer touch to discuss customer status and upcoming new
features. “Some customers IDC talked to were in their customer
advisory group (ZAG) and were delighted with Zuora's transparency
and inclusiveness. Zuora even has a labs area to try out new (in
beta) features and provide feedback before they are released,” the
IDC MarketScape noted.
Additional highlights from the report feature Zuora’s unique
platform capabilities that enable customers to:
- Unlock Revenue Growth: “Zuora's analytics enables
customers to segment users and recommend up/cross sell
opportunities, perform price elasticity analysis, and test
offers.”
- Automate Revenue: “Zuora's integrated revenue
recognition platform (RevPro) enables customers to fully automate
the recognition of complex contracts and amendments using
out-of-the-box rules. RevPro is revenue lifecycle-aware and
automatically identifies related transactions and recalculates
revenue whenever changes happen. RevPro has predefined integration
with several ERP and accounting systems and has multi-book support
for comparing performance across regulations (ASC605 and
ASC606).”
- Customize Workflows: “Customers were very happy with the
new workflow tool as it allowed them to easily automate customer
interactions using trigger data from the platform. One customer was
using the workflow tool for CX workloads outside of Zuora since it
allowed him to customize easily.”
“More than 1,000 of the world’s best companies have chosen Zuora
as the mission critical platform to successfully launch
subscription services, modernize their legacy billing systems, and
transform their entire order-to-cash processes,” said Chris
Battles, Chief Product Officer at Zuora. “The continued
validation of our leadership position from industry analysts
demonstrates our unique ability to help customers win in the
subscription economy.”
The report, IDC MarketScape: Subscription Management
Applications (doc #US44867519, January 2020), gives an overview of
the market and assesses 13 key subscription management service
providers. The report’s assessment is based on current and future
capabilities with a view of presenting the most comprehensive
analysis of enterprise requirements.
The IDC MarketScape report recognition comes on the heels of
Zuora’s placement as a leader in other industry reports, including
“The Forrester Wave™: SaaS Billing Solutions, Q4 2019” (November
18, 2019), and the MGI Research “MGI 360 Ratings for Automated
Revenue Management” (October 28, 2019).
About Zuora, Inc.
Zuora provides the leading cloud-based subscription management
platform that functions as a system of record for subscription
businesses across all industries. Powering the Subscription
Economy®, the Zuora platform was architected specifically for
dynamic, recurring subscription business models and acts as an
intelligent subscription management hub that automates and
orchestrates the entire subscription order-to-cash process,
including billing and revenue recognition. Zuora serves more than
1,000 companies around the world, including Box, Rogers, Schneider
Electric, Xplornet and Zendesk. Headquartered in the Silicon
Valley, Zuora also operates offices around the world in the U.S.,
EMEA and APAC. To learn more about the Zuora platform, please visit
www.zuora.com.
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide
an overview of the competitive fitness of ICT (information and
communications technology) suppliers in a given market. The
research methodology utilizes a rigorous scoring methodology based
on both qualitative and quantitative criteria that results in a
single graphical illustration of each vendor’s position within a
given market. IDC MarketScape provides a clear framework in which
the product and service offerings, capabilities and strategies, and
current and future market success factors of IT and
telecommunications vendors can be meaningfully compared. The
framework also provides technology buyers with a 360-degree
assessment of the strengths and weaknesses of current and
prospective vendors.
The Capabilities score measures vendor product, go-to-market and
business execution in the short-term. The Strategy score measures
alignment of vendor strategies with customer requirements in a
3-5-year timeframe. Vendor market share is represented by the size
of the icons.
© 2020 Zuora, Inc. All Rights Reserved. Zuora, Subscribed,
Subscription Economy, Powering the Subscription Economy, and
Subscription Economy Index are trademarks or registered trademarks
of Zuora, Inc. Third party trademarks mentioned above are owned by
their respective companies. Nothing in this press release should be
construed to the contrary, or as an approval, endorsement or
sponsorship by any third parties of Zuora, Inc. or any aspect of
this press release.
SOURCE: Zuora Financial
1 IDC MarketScape: Worldwide Subscription Relationship
Management 2017 Vendor Assessment (Doc #US43172417, November
2017)
2 IDC MarketScape: Worldwide Subscription Management 2019-2020
Vendor Assessment (Doc #US44867519, January 2020)
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version on businesswire.com: https://www.businesswire.com/news/home/20200108005885/en/
Jayne Gonzalez press@zuora.com 408-348-1087
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