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.