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LAS VEGAS – Feb. 13, 2014 – ProformaTECH 2014 – Zuora and Intacct today announced the availability of a pre-integrated cloud connector that eases the integration between the best-in-class billing and financial management applications of the two companies. These capabilities allow companies in the Subscription Economy™ to easily automate and streamline complex order management, billing, payment, and revenue recognition while gaining real-time visibility into key financial and business metrics. The joint announcement was made at the 2014 ProformaTECH Conference in Las Vegas.
Subscription-based businesses struggle with systems that are typically ineffective for managing the demands of high volume recurring billing, and often don’t support pricing flexibility and mid-term subscription changes. The Zuora-Intacct Connector alleviates these challenges for subscription businesses with two features that are unique in the market. First, companies have the power to automate the subscription revenue recognition process based on bookings data, not just billings data. Second, companies have the total flexibility to amend subscriptions midstream and have those changes automatically managed by the billing and payment processing engines, as well as reflected in their financials and business metrics.
Fast growing subscription-based companies using software suites are experiencing the limits of using a single system for critical business processes. The connector allows companies to easily keep pace with changing business requirements using flexible and powerful best-in-class solutions from Intacct and Zuora. There is no need for companies to lock themselves in to the lack of depth from limited, monolithic suite technology when they can instead take advantage of the best in subscription management and the best in financial management to meet the commerce, billing, and finance demands of a subscription business. Web APIs make integration in the cloud simple and fast for a best-in-class approach.
Instead of facing limits from their business systems, companies can amend and change subscriptions without having to cancel and re-enter a new subscription, and have the new information update their revenue recognition schedule – whether based on bookings or billings. In addition, with accurate customer data being passed automatically through the connector, companies don’t need to hire additional staff to handle the increase in transaction volume when the business grows. Furthermore, with accurate, real-time business metrics, companies can track true buying behavior in their customer base and optimize their subscription offerings.
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 work where traditional ERP applications fail: Subscription pricing, quoting, orders, billing, payments, and renewals. Built from the ground up by SaaS industry veterans from salesforce.com, PayPal, and Netsuite, Zuora services innovative customers like Informatica, Tata Communications, Box, Xplornet, Ustream and Reed Business Information. To learn more about Zuora, please visit zuora.com.
Sage Intacct is the innovation and customer satisfaction leader in cloud Financial Management. With the powerful combination of Sage and Intacct, the Sage Business Cloud offers the best capabilities of both companies. Bringing cloud computing to finance and accounting, Sage Intacct’s innovative and award-winning applications are the preferred financial applications for AICPA business solutions. In use by organizations from startups to public companies, Sage Intacct is designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers also offer Intacct to their clients. The Sage Intacct system includes accounting, cash management, purchasing, vendor management, financial consolidation, revenue recognition, subscription billing, contract management, project accounting, fund accounting, inventory management, and financial reporting applications, all delivered through the cloud.
Sage Intacct is based in San Jose, California and an entity of Sage, the market and technology leader for integrated accounting, payroll and payment systems, supporting the ambition of entrepreneurs and business builders and a FTSE 100 business. For more information on Sage Intacct, please visit www.intacct.com or call 877-437-7765. Connect with Sage Intacct on LinkedIn, Facebook, Twitter, Instagram, and YouTube.