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Workday and Zuora Join Forces to Support Comprehensive Subscription and Financial Management for EnterprisesPartnership Connects Leading Cloud Solutions for Billing, Commerce and Finance With Seamless Enterprise Pricing, Metering and Rating Capabilities (October 25, 2011)
LAS VEGAS, NV -- (Marketwire) -- 10/25/11 -- WORKDAY RISING -- Today at Workday Rising 2011, Workday Inc., the leader in SaaS-based enterprise solutions for human resources, payroll, and financial management, and Zuora Inc., the subscription billing and commerce leader, announced they will join forces to provide seamless integration between Zuora subscription billing and commerce and Workday Financial Management solutions.
The Workday and Zuora integration will allow for large enterprises with complex service- and subscription-based revenue models to more easily launch, manage and optimize critical aspects of their businesses by leveraging:
- Flexible Pricing and Configuration: Ability to handle complex subscription pricing, usage and pay-as-you-go models, tiers, and overages.
- Subscription Lifecycle Management: Ability to support termed subscriptions, add-ons, upgrades, renewals, and cancelations.
- Metering and Rating: Ability to rate, meter and bill for any unit of measurement.
- Financial Management: Ability to have a real-time view of bookings, billings, cash, and revenue.
Early customers include AAA of Northern California, Nevada, and Utah.
The shift of many companies from product-centric to services-based offerings is a key element in the development in the growth of the Subscription Economy. The possibility for a subscription-based business model is compelling companies around the world to launch new services and retool their businesses. This transition is changing the face of the finance department, which now must account for recurring subscriptions, recognize varying subscription revenue and establish a unified view of bookings, billings, cash, and revenue.
Comments on the News
"The combination of Zuora and Workday make it possible for us to transform our business and to move all of our critical business systems to the cloud," said Craig Butler, CIO at AAA of Northern California.
"We're in the midst of a massive shift to service-based models requiring enterprises to launch new and innovative pricing models to adapt to shifting customer demands," said Amy Konary, Vice President of Software Licensing and Provisioning, IDC. "Traditional ERP systems were not designed for this new reality, and the Workday and Zuora partnership is a key action in helping enterprises take the next step."
"This relationship hits at the heart of what is different about enterprise software this time around," said Mark Nittler, vice president of applications strategy at Workday. "The traditional ERP model was product-centric with a focus on procurement. Today business is about service and the focus is on bookings, revenue -- current, recurring and deferred -- and renewals which can make it tough to run a modern business on traditional ERP. Connecting Zuora with our financial management solutions will provide a very strong solution, especially to our customers with businesses in service industries, high-tech, communications, and media."
"For the Subscription Economy to thrive, we need to empower companies with the commerce, billing and finance solutions that will enable this transformation," said Luke Braud, vice president of Products and Engineering at Zuora. "Traditional ERP is irrelevant in a world of services where the focus is on precise pricing, metering and rating, not counting widgets and attempting to optimize shipments. Zuora's partnership with Workday is a critical step to helping enterprises make the shift to a customer-centric model, and succeed in this new world."
To introduce the partnership, Zuora is hosting a webinar on how companies can harness the power and opportunity of the Subscription Economy, entitled "Shifting to the Cloud for Subscription and Revenue Management." Click here to register.
About Workday Rising
Workday Rising 2011 is the company's fifth annual gathering of Workday customers, partner sponsors, prospective customers, and employees coming together to learn, collaborate, and network. It is Workday's largest customer event of the year, with overwhelming support from Workday's customer base of more than 230 companies.
Workday is the leader in enterprise-class, software-as-a-service (SaaS) solutions for managing global businesses, combining a lower cost of ownership with an innovative approach to business applications. Founded by PeopleSoft veterans Dave Duffield and Aneel Bhusri, Workday delivers unified Human Capital Management, Payroll, and Financial Management solutions designed for today's organizations and the way people work. Delivered in the cloud leveraging a modern technology platform, Workday offers a fresh alternative to legacy ERP. More than 230 customers, spanning mid-sized organizations to Fortune 500 businesses, have selected Workday. Visit us at www.workday.com.
About Zuora, Inc.
Zuora is the global leader in subscription commerce and 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 help subscription businesses with pricing, quoting, orders, billing, payments, and renewals. Built from the ground up by SaaS industry veterans from Salesforce.com, PayPal, and WebEx, Zuora services innovative customers like Informatica, Tata Communications, Box.net, Ning, GigaOm, Barrett Xplore, Ustream, and Reed Business Information. To learn more, please visit www.zuora.com.
Any unreleased services, features or functions referenced in this document, our website or other press releases or public statements that are not currently available are subject to change at Workday's discretion and may not be delivered as planned or at all. Customers who purchase Workday, Inc. services should make their purchase decisions based upon services, features and functions that are currently available.
© 2011. Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.
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