Zuora’s got it. 9 Keys to Success.
The 9 Keys to Success Every business deserves to have the tools they need to excel in today’s new world order of commerce. We have composed a Manifesto as a declaration of our commitment to helping every business become a successful subscription business. Price and package with flexibility to support our business goals In the Subscription Economy, pricing and packaging is the most valuable strategic weapon. Businesses can drive revenue growth using three critical levers: adding new customers, increasing the value of existing customers and reducing customer churn. In the Subscription Economy, there are many new pricing and packaging strategies available. The key is to start simply and iterate over time. Sell on all commerce channels that our customers use Signing up customers is tough, and complexities in customer acquisition lead to slow time-to-market and lead to single-channel commerce. Subscription businesses need to establish fast, simple, streamlined customer acquisition workflow across multiple channels. Invoice accurately, intuitively and timely Subscription businesses have to bill new customers at sale, prorate customers that sign up mid-month, bill existing customers at different times of the month, bill for usage and more. Without the right billing engine, it can take weeks to generate bills, billing errors lead to frustrated customers and there is no room to scale. The new complexities in billing posed by the Subscription Economy require businesses to constantly generate accurate bills for new and existing customers that look amazing and are easy to understand. Maximize cash collections and optimize invoice settlements Businesses deal with many more collections in the Subscription Economy, and the collections process is much more complex. Subscription businesses need to collect cash fast through automated and manual methods, while maximizing collections and minimizing write-offs. Make it simple for customers to manage and evolve their relationships with us Adding new subscribers is critical, but in the Subscription Economy, 90% of customer transactions reflect changes to existing subscriptions. As a result, it’s critical to provide customer with intuitive, comprehensive tools to manage their accounts over the entire subscription lifecycle. Subscription businesses need to give customers the control they want, or risk dissatisfaction Accelerate accounting close and streamline revenue recognition without sacrificing compliance The subscription delivery model poses new challenges for accounting and financial processes. Businesses need a GL to generate financial statements, but they cannot handle the complex processes brought on by the Subscription Economy, and as a result, subscription finance processes end up in spreadsheets. Businesses need to streamline their accounting close process and maintain compliance. Create visibility into the right customer, subscription & financial metrics to drive value in our business Subscription businesses want to drive accurate and timely decisions leveraging key metrics from bookings through revenue recognition that provide unparalleled insight into customer value and the financial health of the business. Scale services with mission critical, reliable, and secure infrastructure Subscription businesses need a reliable enterprise-grade system with services that are built on a secured, mission-critical and scalable infrastructure. Customers have complex ecosystems, and the SaaS subscription infrastructure must have reliable 7x24x365 operation, regula new feature deployments and well-formed, predictable business continuity. Price and package with flexibility to support our business goals In the Subscription Economy, pricing and packaging is the most valuable strategic weapon. Businesses can drive revenue growth using three critical levers: adding new customers, increasing the value of existing customers and reducing customer churn. In the Subscription Economy, there are many new pricing and packaging strategies available. The key is to start simply and iterate over time.