|By Business Wire||
|March 11, 2014 10:01 AM EDT||
Zuora, the subscription billing, commerce and finance leader, has joined forces with provider of next-generation revenue recognition software, Leeyo Software, to give enterprises the ability to embrace the benefits of the subscription economy without being burdened by the complexity of recurring revenue streams.
Multi-billion dollar enterprises are increasingly looking to make the shift to the subscription economy in order to grow and thrive, but monolithic ERP suites such as Oracle and SAP were not designed to handle the complex billing needs or revenue recognition rules associated with recurring revenue streams.
This partnership enables businesses in the Subscription Economy to combine these two best-of-breed solutions to augment their existing ERP system. Zuora’s order-to-cash operation delivers data relevant to revenue recognition into Leeyo’s RevPro for seamless automation of revenue recognition, further enhancing the automation that both products enable. Leeyo’s software delivers enterprise-grade revenue recognition features, scalability and reliability, a key requirement for large enterprise and, with the upcoming changes in revenue guidance is well positioned to capitalize on the opportunity.
“Zuora recognizes that businesses have unique needs when it comes to accounting for subscription revenue,” said Brian Bell, CMO of Zuora. “Businesses need a broad set of options to solve complex revenue recognition challenges, and our partnership with Leeyo gives large enterprises just that. Now, they can embrace the benefits of the subscription economy without being burdened by the complexity of managing complex recurring revenue recognition rules – something that Leeyo’s RevPro has proven in the marketplace.”
“The subscription economy is creating a massive opportunity for large enterprises to grow and thrive, but building stable, predictable recurring revenue models is not without its challenges,” said Jagan Reddy, president and CEO of Leeyo. “Our partnership with Zuora allows us to leverage Zuora’s market-leading subscription commerce and billing engine in combination with Leeyo’s revenue accounting platform. This is an obvious pairing of capabilities and one that our customers are happy to see, as it will alleviate the headaches they often experience when managing the complexities of billing and revenue recognition.”
About Zuora, Inc.
Zuora is the global leader in subscription commerce and recurring billing, helping companies in every industry transition to the Subscription Economy. Enterprise leaders and high-growth companies alike use Zuora's multi-tenant cloud platform to launch, scale, and monetize their subscription services. Zuora's applications work where traditional ERP applications fail: Subscription pricing, quoting, orders, billing, payments, and renewals. Built from the ground up by SaaS industry veterans from salesforce.com, PayPal, and Netsuite, Zuora services innovative customers like Informatica, Tata Communications, Box, Xplornet, Ustream and Reed Business Information. To learn more about Zuora, please visit www.zuora.com.
Leeyo's next-generation revenue recognition software rescues companies and revenue teams of all sizes from the chaos of today's manual data entry or customized processes. Leeyo's RevPro -- the most complete revenue recognition software suite on the market -- automates and manages every process facing a revenue team -- seamlessly integrating with the quote-to-cash processes of any ERP system to deliver unparalleled visibility, functionality and configurability to the revenue recognition and reporting process. Learn more about Leeyo and RevPro at www.Leeyo.com.
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