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Zuora Software

Today, payment and invoicing processes have become easier than ever. This is thanks to digital solutions like Zuora. Zuora guarantees smooth transactions. The tool comes with several incredible features for efficiency and convenience.  

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Software Overview

Zuora is a monetization software that enables one to develop a business, grow it, and run it for the foreseeable future. Users of Zuora billing software can monetize their businesses through subscriptions, various pricing strategies, and consumption. Zuora is a monetization platform that any business model can use to unlock new opportunities and systematize complex revenue streams. Several innovative companies have relied on Zuora to grow, including Sony, Ford, and Canon. 

Benefits of Using Zuora

Recurring Billing

This enables business owners to charge their clients or customers at different pre-set intervals. Businesses can charge for their products or services weekly, monthly, or annually. The owner can also choose to build a custom payment plan.

Minimizing Churn

Churn is a key factor to consider in the subscription business. Getting new customers for your business may cost 5 to 25x more than retaining existing customers. There are two kinds of churn; involuntary and voluntary. Voluntary churn happens when a customer decides to cancel their subscription. On the other hand, involuntary churn happens when customers unintentionally log out of their subscriptions due to operational issues, such as an expired credit card or payment failure. Nearly 20% of the total churn is attributed to the involuntary kind. Your business may suffer, and you will lose a lot of subscribers if you do not work to reduce involuntary churn. You can reduce involuntary churn in four ways. You can bake in the retention strategies by making the subscriber portal easy to navigate and enabling Zuora's Payment Method Updater, which will automatically integrate the changes made to payment cards, including the expiry date. You can introduce a smart retry strategy to curb failed subscription renewals. If the above ways fail, you might consider reactivating your account to get your subscribers back. Zuora can help you do all of the above.

Reduce Time-to-Close

During the close of an accounting period, there may be discrepancies and human errors due to manual entries. Automating your accounts will ease the procedures and maintain clear and accurate data.

Product Features

Zuora offers several impressive features, including:

Zuora has different customer billing models, including one-time billing and recurring fees. Zuora billing also offers customers various discounts to customers. The pricing can also be updated across the sale networks using one user interface. These billing operations are available for all subscribers.

This feature enables software users to minimize auditing risks and human error by generating real-time data. Users of Zuora can group their accounts, such as invoices and orders, systematically to avoid confusion. Zuora revenue also accelerates the growth of revenue recognition and sets up rules for the various pricing models, including changes in terms, quantity, and models. With real-time revenue analysis, Zuora helps its users meet their targets. The revenue recognition is divided into central and advanced, ideal for mid-size and enterprise businesses.

Users can unlock their payments and turn invoices into cash. Moreover, users can recover up to 20% of their failed payments to subscribers and take full advantage of the cash flow using an artificial intelligence recovery mode, reducing churn.

Zuora Collect enables users to unlock more payment gateways that will help with flexible payments. Therefore, customers can flexibly make their payments using various methods. The subscribers’ payment methods can also be updated proactively using Zuora Collect.

Zuora is constantly receiving updates and evolving to meet changing user needs. This platform addresses difficulties and opportunities in the quote-to-cash procedure. Customers can respond easily to the demands in the market using technology.

With the available auditing and security applications, the IT personnel will have an easy time as the Zuora platform reduces operational and financial risk. Zuora platform has developer shortcuts, prebuilt connectors, verified migrations, accessible analytics, scaled reliability, and enterprise-grade security that help power crucial business operations.  

Zuora Pricing

Zuora software has four different payment models. One can pay weekly, monthly, or annually.

Zuora Awards

The IDC Marketscape evaluated and profiled Zuora’s billing and management capabilities. The company was named the leader for the third time. The IDC Marketscape compiled a report that analyzed the strengths of Zuora billing and management software, including its efficiency and wide pricing options. The Marketspace also interviewed some customers and collected their reviews. Customer’s cited Zuora’s contributions to the growth of their businesses.

The customers also highlighted that the Zuora team always responds to their needs quickly. Customers have also been impressed with the artificial intelligence and enterprise scaling capabilities of Zuora. The IDC Marketspace also commended Zuora for acquiring Zephr, a top subscription experience platform. Zephr is a platform that enables its customers to accelerate their revenue growth.

The Bottom Line

Zuora is one of the top leading payment and invoicing solutions. The tool improves efficiency and satisfaction by delivering several incredible benefits.