ZUORA AWARD SUBMISSION FOR EUROCLOUD Background & Profile doc 1/2

Transcription

1 ZUORA AWARD SUBMISSION FOR EUROCLOUD Background & Profile doc 1/2 Name of company nominated: Zuora HQ Location: Redwood City HQ London Year founded: March 2007 Names of founders: Tien Tzuo, K. V. Rao, and Cheng Zou Name of current CEO: Tien Tzuo Current number of employees: employee count: employee count: 90 Category: Business application or service Total funding raised and from whom: To date Zuora has raised $82.5 million from investors Benchmark Partners, Marc Benioff, Shasta Ventures, Tenaya Capital, Redpoint Ventures, Index Ventures, Greylock Partners, and Dave Duffield. Other growth metrics: Grew employees from 130 to 200+ employees across North America, Europe and APAC Raised $36M in funding to $82.5M in total funding with a $300M valuation Opened EMEA operations with over 2 billion in contracted subscription revenue Our business including our customers: Zuora gives you the enterprise- class, cloud- based tools you need to launch and scale any subscription service, quickly and affordably. Zuora is the only pure SaaS solution that is more than just a billing solution; it is a full subscription commerce solution (product catalog, subscription lifecycle, billing, commerce, finance and analytics). Companies of all size are now selecting Zuora as their system of record to drive business model innovation, to solve subscription complexity and to reach their potential in an increasingly subscription- focused market. Zuora s customers are from a wide- range of multi- billion dollar industries, everything from telecom to media to high tech. Recent clients include Tata, Box, Informatica, Pearson, Marketo, Qualcomm, Ning, Dell, and AAA. For more information, please see our website at zuora.com/customers. What challenge is the business solving: There is a powerful and fundamental shift happening in our society: People and businesses are moving away from an ownership mentality and towards a membership mentality. At the same time, companies need to shift from a traditional product- focused, manufacturing model to a customer- focused, services model. The trend is playing out all around us from well- known companies such as Zipcar, Dell, Netflix and Amazon and billion dollar industries including cloud computing, publishing and media, communications, software and more. Businesses of all shapes and sizes are having to quickly rethink the way they connect with customers, thinking much more strategically about how to charge and bill for goods and services in a dizzying number of different permutations. Those who can make this shift are experiencing tremendous growth, but the reality is that traditional billing systems simply cannot keep up with this demand for speed, flexibility and innovation. Traditional businesses utilizing an ERP can t handle this shift to subscription billing, and thus Zuora has stepped into the breach to address this challenge and opportunity. Zuora helps launch businesses, scale a business or business unit, kickstart a stalled business, and address threats that have prevented a company from growing. To address these needs, Zuora has created a simple, modular, and highly scalable offering to enable on- demand subscription billing to overcome the limitations of ERP solutions, save time and money, and enable growth and innovation for customers across a broad range of industries.

2 ZUORA AWARD SUBMISSION FOR EUROCLOUD Background & Profile doc 2/2 Our people make a difference It all began with a vision in a tiny office in Mountain View, California. In 2007, after several years at WebEx & salesforce.com, K.V. Rao, Cheng Zou and Tien Tzuo began to evangelize a fundamentally new business model. One where companies of all sizes would offer broad libraries of services via subscriptions. And one that would challenge the 20th century manufacturing economy by shifting the focus to delivering services instead of products. They called this the Subscription Economy. Today, Zuora headquarters are in Redwood City, California with satellite offices throughout North America, Europe and China. And more than 200 passionate professionals enable us to power the Subscription Economy. What is innovative and different about our company s solution? Zuora was built from ground up as a multi- tenant SaaS billing commerce, and finance solution. Specifically, Zuora s applications enable monetization strategies and efficiencies for companies to drive top live revenue through new pricing and packaging, launching new subscription services and products, and having the visibility to drive customer loyalty with add- ons, upsells, and renewals. Our customers take center stage. And as our customers grow and adapt, so do we. One of the defining characteristics of the Subscription Economy is the speed at which companies must adjust to meet changing consumer needs and demands. Our monthly product innovations enable our customers to keep pace with the changes, allowing them to continue to delight their users and seize greater market share. To that end, we ve had 40+ consecutive monthly releases What is our growth strategy and how are we executing it: Zuora sees the Subscription Economy as a global phenomenon. Literally every kind of company from small to large will be affected by this seismic change in how business is done. But with huge opportunity comes the need to focus. Zuora initially began focusing on the massive growth of SaaS, serving B2B and B2C companies building businesses based on a subscription model. That rapidly expanded to three multi- billion dollar industries facing massive transformation: Media and Publishing Telecom & Communication Service Providers High Tech Zuora recently announced $36M in new funding that it will use to significantly invest in core research and development to broaden its solution footprint. Throughout 2012, Zuora will be delivering an extended product line including solutions designed for CFOs and CMOs who are tasked with growing their Subscription Economy opportunities and need to be liberated from the constraints of their obsolete enterprise systems.

3 $how Me the Money! Optimize Billing & Payments Hans Platschorre, CFO VNU Media for Zuora

4

5 Customer Story VNU Media: Facts & Figures More than 45 years of experience in the recruitment market. > 10M monthly visitors on the different recruitment and community sites. > 500k job seekers in the different databases. > 1k new job poslngs per day. Processing: 2k invoices per month using Zuora s Z- Billing

6 Customer Story VNU Media: Market challenges in recruitment & job poscng business Recruitment business and profile informalon has become completely online with players like Monster and LinkedIn as fierce compeltors in our local Dutch market, compellon changed from local to global players (predominantly US). Print adverlsing has become supporlve to the online brand. GDP outlook is considerably lower than in a normal recovery which puts pressure on margins. Search engines & aggregators are playing a bigger role in our core market. The role of each player in the value chain will change due to the transparency of the (online) service results (deliver good candidates) moving VNU Media to more a service/subscriplon offering instead of pushing products.

7 Customer Story VNU Media: OrganizaConal & ICT changes Replacement of the tradilonal adverlsing sales front and back office applicalons (ERP) ImplementaLon of a high- end configured CRM pla\orm (Salesforce) to support the sales people in doing their business in the most effeclve way whilst ensuring correct billing ImplementaLon of a high- end middle office applicalon (Zuora) which supports complex billing and the ability to launch new product on daily basis Goal: Reduce the number of staff in the back office and finance operacons while increasing revenue.

8 Customer Story VNU Media: Project Sniper Based on the market developments and associated organizalonal needs, VNU Media launched Project Sniper in July 2010 and went live in May Scope: 1. ImplementaLon of Salesforce for B2B Sales which contained more informalon by quote and order to enable becer sales management, forecaslng and reporlng. 2. ImplementaLon Zuora to replace our print ERP package. 3. IntegraLon of of Salesforce and Zuora with Z- Force

9 Best PracCce: Selects Zuora for flexible pricing and packaging and opcmizacon of quote to cash process Why? How? " Best of breed and in the cloud: Zuora & Salesforce (with a nalve integralon) " Robust Product Catalog " Automate billing operalons Including calculalon of taxes " Sales team can generate quotes and easily handle discounts and promolons " Single view of the customer (with all billing and subscriplon data) in Salesforce " Prevent inaccurate wrong invoices " Automate difficult payment terms " Z- Quotes to manage orders in Salesforce (uses approval flow) and seamless single push to Zuora for billing. " Product selector within Z- Quotes ensures the right product/the right price for each subscriplon and marries the CRM with the ERP side of systems " The daily process of quolng, billing and tracking payments forced the organizalon to higher quality output on a daily basis (no hiding!) " Daily bill runs generate accurate invoices with automalc tax calculalon using Z- TaxaLon

10 FLOW VNU Media automated the subscripcon Quote- to- improving Cash process efficiency by 40% and enabling new products to rollout 4X faster. Zuora has helped us improve our Quote-to-Cash processes so that we can launch more products and maintain our competitive edge as a market leader. Hans Platschorre, Chief Financial Officer

11 Best PracCce: Selects Zuora for flexible pricing and packaging and opcmizacon of quote to cash process Early Results þ Get Results with Zuora Lowered DSO and reduced billing staff by 40% through automacon provided by Zuora! " ReducLon in operalonal costs for billing and finance " Move to daily invoicing and reporlng led to lower DSO and faster cash colleclon " Accurate invoices as a result of a single accurate product catalog " Flexible pricing and package allows product changes to be realized immediately, faster Lme to market results in higher revenues " Transparency in daily processing up to CFO/CEO level allows for aclon. Enforces organizalon to respond quickly on back logs, errors and issues (higher organizalon discipline from sales to back office " No discussion around revenue truth as CRM is married with ERP.

12 Customer Story VNU Media: Project Sniper is just the beginning As Zuora conlnues to innovate and release new features on a monthly basis, VNU Media plans to leverage added funclonality to oplmize billing and payments. Implement ecommerce self service website using Zuora APIs for online sales Global Collect as a payment gateway for direct debit payments Leverage addilonal subscriplon pricing models for new products and upsells Use customer nolficalons and triggers to help with colleclons Z- AnalyLcs for enhanced reporlng in Zuora Upgrade to the latest Z- Force version for added funclonality with quote to order process (including order amendments) Further integralon with GL