Zuora, Inc. (NYSE: ZUO), the leading cloud-based subscription management platform, today announced an all new Unified Monetisation solution at The Journey to Usership™: A Day for Zuora® Customers event. As consumers increasingly prefer usership to ownership, businesses are finding new ways to turn products into the ongoing services customers are demanding. To support these new business models, for the first time, Zuora is opening up its platform beyond pure subscription businesses. The solution will enable companies to monetise their subscriptions, products, and usage-based services with one unified experience.
With 75% of global consumers indicating they increasingly prefer to use services rather than own physical goods, product-centric companies are racing to complement their physical goods with new subscription services. With Unified Monetisation, Zuora is empowering these companies to join the Subscription Economy®. It also empowers digital-first subscription natives to expand their services by including one-time offers to grow subscriber relationships over time. Zuora customers now have the freedom to monetise any combination of one-time, recurring, or usage-based services to deliver differentiated ongoing subscriber experiences.
Unified Monetisation enables companies to monetise anything-as-a-service, for example:
- Telecommunications-as-a-service unifying virtual meeting licenses with web cameras and installation services
- Mobility-as-a-service unifying electric cars with electric vehicle (EV) charging services
- Content-as-a-service unifying streaming video with live event tickets
“Subscriptions are essential for transforming the next generation of businesses, but they shouldn’t be the only option,” said Sri Srinivasan, Chief Product and Engineering Officer at Zuora. “To deliver the best ongoing subscriber experiences, companies are looking to combine offerings in new ways, with a mix of subscription, usage, and one-time offers.”
Also announced at The Journey to Usership, Zuora unveiled a host of new enterprise and developer focused Central Platform advancements to help companies move even faster, including:
- A new Software Development Kit (SDK) that empowers companies to launch their new monetisation applications up to 5X faster and reduce coding hours by up to 80%
- New Configurable UI that gives business users a boost in in-app user productivity with a completely configurable user experience
- New IT tools that make deploying Zuora up to 30% faster
Zuora Central Platform is built to meet enterprise demands, with customers who are processing more than three million invoices per hour, and scaling with customers providing services to more than 100 million subscribers.
“We are thrilled to see Zuora’s pace of innovation to support our non-recurring Consumable and Field Service offerings,” said Trevor Owens, VP of Architecture at Quench. “Unified Monetisation will provide the flexibility to seamlessly bill for all our products, subscriptions, and services on a single platform, and if desired, a single invoice. This will eliminate tedious back-end integration and data reconciliation efforts present today – providing the immediate agility to monetize our water-as-a-service on a single platform.”
“A subscription business model and an exceptional customer experience are equal priorities for many organisations,” said Stephen Hurrell, VP & Research Director at Ventana Research. “The key aspect of a positive subscription model customer experience can be summed up as ‘seamless.’ For companies with a mixed business model, combining one-time sales with subscription and usage-based products and services, this seamless processing is of paramount importance to ensure that the consumer is not aware of the potentially disparate systems supporting the overall process.”
To learn more about Unified Monetisation and Zuora’s new enterprise platform enhancements, visit here.