Financial Technology

Financial Technology

October 31, 2011

Workday and Zuora Provide Subscription and Financial Management

Collaboration between Workday Inc. and Zuora (News - Alert) Inc. has been announced at Workday Rising 2011. Zuora subscription billing and commerce will now be seamlessly integrated with Workday Financial Management solutions. Workday is the top company in SaaS (News - Alert)-based enterprise solutions for human resources, payroll, and financial management. Zuora is the top company in subscription billing and commerce.

Large enterprises with complex service- and subscription-based revenue models will find the Workday and Zuora integration useful. Critical aspects of businesses can be more easily launched, managed and optimized with this integration. Large enterprises can handle complex subscription pricing, usage and pay-as-you-go models, tiers, and overages by leveraging the flexible pricing and configuration provided by the integration.

Enterprises can support termed subscriptions, add-ons, upgrades, renewals, and cancelations by leveraging the integration’s subscription lifecycle management capability. Enterprises can also rate, meter and bill for any unit of measurement by leveraging the metering and rating capability. Real-time view of bookings, billings, cash, and revenue are also possible for large enterprises by leveraging the financial management capability.

In a release, Mark Nittler, VP of applications strategy at Workday, said, "This relationship hits at the heart of what is different about enterprise software this time around. 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.

According to Nittler, customers will be provided a very strong solution by connecting Zuora with Workday’s financial management solutions.

According to Luke Braud, VP of Products and Engineering at Zuora, the organizations needs to empower companies with the commerce, billing and finance solutions for the Subscription Economy to thrive. These solutions should however be able to make this transformation.

Braud said, "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."

Carolyn John is a Contributor to TMCnet. To read more of her articles, please columnist page.

Edited by Rich Steeves

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