Zuora has unveiled a new Orders feature for its central platform, designed to help give subscription companies increased order flexibility, a new set of metrics to follow and complete order-to-revenue automation.
Retailers can use the upgraded platform to rapidly acquire customers across multiple channels, manage the entire customer lifecycle and automate revenue recognition, all in a single solution. For example, a retailer can track an individual shopper’s access to a product over a yearlong period, whether that access is signing up for a basic subscription, upgrading to a premium version, suspending the subscription or renewing it.
With the Orders functionality, Zuora includes:
- Subscription order flexibility: Enables teams to book multi-year expansion contracts upfront and make unlimited subscription changes;
- Order metrics system of record: Provides out-of-the-box change order metrics like monthly recurring revenue, churn rate and net retention, all fully visualized on a configurable dashboard; and
- Order-to-revenue automation: Aggregates comprehensive order and change order data required to recognize revenue.