Zuora
Overview
Zuora is a software company that provides cloud-based software on a subscription basis. The company's flagship product is a SaaS application designed to automate subscription billing and recurring payments for businesses in the Subscription Economy. Zuora's applications are designed to automate billing, commerce, and finance operations.
History
Zuora was founded in 2007 by Tien Tzuo, K.V. Rao, and Cheng Zou. Tzuo, the company's CEO, was previously a chief strategy officer at Salesforce, where he helped create the company's platform as a service (PaaS) strategy. Rao and Zou, both also from Salesforce, have backgrounds in enterprise software and subscription-based businesses.
Products and Services
Zuora offers a suite of SaaS applications designed to automate all aspects of a subscription business, including billing, commerce, and finance. These applications are built on a multi-tenant architecture and are designed to be scalable and flexible, allowing businesses to adapt to the changing needs of their customers.
Zuora Billing
Zuora Billing is a comprehensive subscription billing platform that allows businesses to automate their recurring billing processes. The platform supports a wide range of billing models, including one-time charges, recurring fees, usage-based charges, and tiered pricing. It also provides tools for managing customer accounts, creating and managing invoices, and handling payments.
Zuora RevPro
Zuora RevPro is a revenue recognition automation solution that helps businesses comply with accounting standards such as ASC 606 and IFRS 15. The software automates the entire revenue lifecycle, from contract creation to revenue recognition, and provides detailed reporting and analytics capabilities.
Zuora CPQ
Zuora CPQ (Configure, Price, Quote) is a sales tool that helps businesses configure products and services, price orders, and generate quotes for customers. The software integrates with CRM systems like Salesforce, allowing sales teams to create accurate, personalized quotes quickly.
Customers
Zuora's customers span a wide range of industries, including software, media, telecommunications, healthcare, and education. Notable customers include Box, DocuSign, Zendesk, Hulu, and The Guardian. These companies use Zuora's software to manage their subscription businesses and automate their billing and finance operations.
Financial Performance
As a publicly-traded company, Zuora reports its financial performance on a quarterly basis. In its fiscal year 2020, the company reported total revenue of $276.1 million, an increase of 11% from the previous year. The company's net loss for the year was $92.2 million, compared to a net loss of $90.7 million in fiscal year 2019.
Criticisms and Controversies
Like many tech companies, Zuora has faced its share of criticisms and controversies. Some customers have reported difficulties with the software's usability and customer support. Others have raised concerns about the company's pricing, which can be expensive for smaller businesses.
