Company Top Ranked in Current Offering and Market Presence Categories
Zuora, Inc., the leading cloud-based subscription management platform provider, announced that it was cited as a leader by Forrester in “The Forrester Wave: SaaS Billing Solutions, Q4 2019” report (Forrester Research, Inc., November 20, 2019, Lily Varon). Among the nine vendors evaluated, Zuora was ranked highest in both Current Offering and Market Presence categories. Forrester writes, “Zuora stands out for its thought leadership and varied customer base… Zuora has long dominated the mindshare in this category.”
Over the past seven and a half years, the Subscription Economy has continued to thrive, growing more than 350 percent, as consumers increasingly demand access to convenient, digital services over the ownership of physical products. And according to the authors of the Forrester report, “the more digital products or services you offer and the more partners you have that become part of your value delivery ecosystem to customers — the more likely it is that your firm’s billing scenarios will be complicated. Your ability to keep up with market changes and the quality of your customer experiences will depend on agile billing technology.”
“Zuora predicted the emergence of the Subscription Economy more than a decade ago, where companies large and small would shift their business models from shipping products to delivering subscription services and would need a new billing system to support their transformation,” said Chris Battles, Chief Product Officer at Zuora. “We are thrilled about this market recognition and will continue to invest and innovate to ensure our customers win in the future of the Subscription Economy. With the launch of the Zuora Central Platform earlier this year, Zuora affirms it has the leading platform to help companies in all industries launch subscription services, replace their legacy billing systems, and transform their entire order-to-cash processes.”
In the report, Forrester continues, “Zuora’s product strategy is aggressive: It aims to cover most of the ground between the customer relationship management (CRM) and the enterprise resource planning (ERP) for recurring revenue businesses. To that end, it has built a core platform, Zuora Central, with four main applications: Billing, Collect, CPQ, and Revenue, and it manages a marketplace of third-party extensions.”
“Zuora Billing’s strengths lie in how it leverages the new major features to the Zuora Central Platform: 1) Workflow builder to automate more functions and processes using conditional logic and rules, and 2) data querying with SQL, enabling users to query, join, and report on more data objects across the platform. Customer references whom we spoke with, especially developers, felt empowered by these new platform capabilities,” continues the report.
Forrester concludes its section on Zuora by writing, “Zuora is a good fit for firms that are looking for a new system of record for their recurring customer relationship, where CRM and ERP play supporting roles.”