Zuora Billing

As the leader in subscription billing and recurring payments; Zuora Billing is the first complete billing solution for subscription businesses. Zuora billing is a Single dynamic platform that makes it easy to manage subscriptions and keep up with fast-changing GTM strategies. It helps to track and manage changes throughout the subscription lifecycle.

 

In the Zuora Billing module, you can streamline and automate your billing process for:

 

  • Managing customer accounts
  • Creating and managing subscriptions
  • Launching new products to market quickly
  • Scaling billing and payment operations
  • Gaining full visibility into the metrics that drive your subscription business

Because Zuora Billing provides a single source for all customer subscription data, your subscription business can grow in scale with each new customer.

Capabilities of Zuora Billing

 

Zuora has built a portfolio of SaaS products that are tailor-made to help companies meet the challenges of running a subscription business and succeed.

 

  • Bill For any Charge Model

 

  • Automated Prorations & Calculations for any event.

 

  • Hierarchical Billing

 

  • Real-time Taxation

 

  • Branded Invoice Templates

Benefits of Zuora Billing

 

  • Build long-term relationships with customers.

 

  • Learn how customers use products or services

 

  • Calculate charges incurred as a result of changes to subscriptions

 

  • Automate invoice generation for subscriptions on specified schedules

 

  • Calculate charges based on usage of the product or service

Benefits of a flexible and configurable Product Catalog

 

  • Determine how much customers are willing to pay for a particular product.

 

  • Introduce and modify pricing and packaging strategies quickly.

 

  • Minimize the time it takes to launch a new product.

 

  • Expand sales in international markets.

 

  • Accurately calculate accounting and revenue-related information

Benefits to a Subscription Business on Maintaining Comprehensive Customer Account Data

 

  • Determine how much customers are willing to pay for a particular product.

 

  • Determine special billing and invoice requirements of different users.

 

  • Determine payment preferences such as default payment method and autopay setting.

 

  • Measure specific subscription business-related metrics such as monthly recurring revenue (MRR).

Benefits of Maintaining Comprehensive Payment Method

 

  • Allow customers to pay using different payment methods

 

  • Collect payments without manual intervention

 

  • Allow different payment terms and conditions

 

  • Help automate the processing of electronic payments

 

  • Payment data is secure and prevents online fraud

 

  • Support multiple payment methods

Importance of Zuora Billings 9 Keys in a Subscription Business

 

Many Subscription Businesses have turned to Zuora and its partners seeking a blueprint to guide their success. Zuora has built a composite view of what it takes to build and run a successful subscription business. These 9 keys principles serve as a foundational blueprint for building and scaling a subscription-based business.

 

  1. Price – Dynamically adjusting pricing and packaging is the surest way to attract and retain customers.
  2. Acquire – Boost Subscription rates with tools like flexible pricing, promotions, integrated quoting, and multi-channel commerce.
  3. Bill – Subscriptions mean more invoices and more payments Automatically generate fast, accurate bills and deliver them online.
  4. Collect – Collect payments instantly through automated and manual channels.
  5. Nurture – Keep your customers engaged and happy. Seamlessly manage rapidly changing upgrades, conversions, renewals, and other orders.
  6. Account – Zuora plugs straight into your accounting software and GL. Register subscription transactions and process deferred revenue with ease.
  7. Measure – Analytics make forecasting and Account close and audits faster. Plus, it gives you the right insight into your subscribers, so you can make smarter decisions.
  8. Iterate – Subscriptions can Involve complex customer relationships. Zuora lets you Iterate and test what is working with just a couple of clicks.
  9. Scale – Zuora is built on secure scalable technology infrastructure. So, it will keep your system running as you grow.

How to Overcome Subscription Business Challenges?

 

Subscription Business focuses on 3 main factors to drive business value. These are Top Line growth, Cost Efficiency, and Compliance and Security, Thus, when trying to adopt a subscription-based Quote-To-Cash process model, they often face many challenges such as;

 

  • Challenges: Flexibility in Pricing and Packaging

 

Solution: Zuora Provides business unlimited flexibility to design pricing and Packaging strategies, which can be implemented over multiple channels to attract customers thereby driving Top Line Growth.

 

  • Challenges: Accuracy in tracking large volumes of Business.

 

Solution: Zuora helps businesses to track and manage every change throughout the subscription lifecycle. By capturing subscription changes and automatically re-calculating billing, payment, and revenue for each change. Zuora Helps Business to save cost and increase performance efficiency.

 

  • Challenges: Maintaining stringent security and Compliance Standards.

 

Solution: Zuora Products are completely secure and designed to meet the strictest security compliance standards such as PCI, SOC, ISO, HIPAA, etc

 

  • Challenges: Implementing Different Pricing Models.

 

Solution: Zuora helps businesses to price and package in minutes without having to re-code or re-engineer the CRM or ERP application

 

  • Challenges: Managing ongoing Subscription Changes

 

Solution: Zuora translates all subscription transactions in Zuora to GAAP compliant Journal Entries. Hence, businesses can close the books with audit-ready.

 

  • Challenges: Calculating and Reporting on Subscription Metrics.

 

Solution: Zuora helps businesses to calculate subscription metrics in real-time and make it easily accessible to all parts of the Quote-To-Cash process. It can slice and dice the data with customized reports and share all metrics from Zuora’s 3rd party system.