Download - Accelerate Accounting Close w/ Firehost
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Accelerate Accounting Close
Featured Guest: FireHost
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Aaron SomerSales Engineering
http://www.firehost.com@FireHost
http://www.zuora.com@zuora
Bruce MacFadyenChief Operating Officer
Monika SahaProduct Marketing
Meet the Panel
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Building the Next Great Enterprise Software Company
Built by Experts Used by Leaders
FLOW: Run and flow your subscription business processes efficiently.
GROW: Build and grow your subscription business and revenue.
KNOW: Have the right metrics to optimize your subscription business.
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• Our mission is to provide the most secure and high performance cloud hosting solutions for mission-critical deployments around the world.
• We provide fully managed security and support, offering the most transparent service and tools in the industry.
• Facilities in Dallas, Phoenix, London and Amsterdam
Brands That Trust FireHost
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Noted in Gartner’s 2012 Magic Quadrants forMANAGED HOSTING PUBLIC CLOUD&
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Zuora Was Built on the Prediction of a “Subscription Economy”
1999 2012+
BUY NOW
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BUY NOW
Sell Units
SKU Based Plan Based (Editions, Bundles, Usage)
Focus is to
Billing/Pricing is
One-TimeTransactionsCommerce is
Recurring(Subscription, add-ons, renewals)
Customer(Long-term, adoption, loyalty)
The Subscription Economy Requires A Shift In The Approach To Building Businesses
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PAIN in the accounting close process“It takes us 17 days and multiple spreadsheets to close our books”
PAIN in the forecasting process“I have no visibility into future cash. It takes me hours to get a cash forecast for budgeting and planning”
PAIN in the audit process“I have to pull data from 9 spreadsheets to reconcile our data for auditors”
PAIN in the GL summarization process“My general ledger doesn’t understand subscriptions. I can’t feed it un-billed deferred revenue”
PAIN in the revenue recognition process“We’re doing all our revenue recognition in spreadsheets. This isn’t scalable and we can’t grow our business this way”
And the shift to the Subscription Economy is placing a burden on finance teams…
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The Top 3 Things That ContributeTo This Pain
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1: Market-Driven Pricing Strategies
Finance Team
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I get to sell into my install base. Love those easy upgrades and renewals.
Finance Team
2: Subscription Lifecycle Commerce
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Finance Team
I offered a credit to prevent churn and increase customer satisfaction.
3: Customer-Centric Billing Demands
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We need more time
It takes Weeks for finance teams to close the books
- Finance Team
Result:
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• We have done all of the above at the same time: 200% annual growth• Zuora removes the roadblocks to growth
• Allow billing & finance ops to rapidly scale in multiple dimensions• Delivers ‘One Truth’ view across legal entities and countries
• Zuora can support FireHost to $100M and beyond• No billing system changes
+
Time to Implement
More Customers to Bill
Expand Internationally
Month End Close
Reliance On Spreadsheets
1 Month
Instantaneously
Instantaneously
Accelerated
Reduced
FireHost’s Journey with Zuora
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Introducing Z-Finance …
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Multi dimensional Ledgers
Intelligent Algorithms
Revolutionary Data Model
Spread revenue over time
Powerful Rules Engine
Differentiate between one time andrecurring revenue
Calculates key subscription metrics
Adapts to subscription changes
Z-Finance Is Built On A New Foundation
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Product Demonstration
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• Sales Reps• Account
Managers
• Website user
Payment Gateways
General Ledgers
CRM
E-CommerceSubscription Lifecycle(Upgrades/Renewals)
Billing/Payments/Collections
• Lead/Oppty Mgmt • Quoting • Ordering/
Provisioning • Renewals
Management • Sales Forecasting
• Pricing/Packaging• Invoicing • Tax
Collections/Remittance
• Payments/Collections
• Suspension/Cancellation
• Account Management
• Accounting Alignment• Revenue Recognition• Accounting Period Close• Budgeting/Forecasting• Commissions/Revenue
Sharing• GL System Integration
Commerce Billing FinanceCommerce
Billing
Finance
Billing Ops
Accounting & Finance
Product Marketing
Process And Systems Landscape For A Subscription Business
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Demo Agenda
1) Zuora Product Catalog
2) Customer upgrade
3) Customer service credit
4) Accounting close process / reporting
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Z-Business Product Demo