Zuora Offers Free Platform Workflows to Enable Customer Growth During Unpredictable Market Conditions

Zuora, Inc. (NYSE: ZUO), the leading subscription management platform provider, today announced the next generation of its Zuora Central Platform and free pre-built workflows to provide customers with the agility to adapt to rapidly changing market conditions. Powered by Zuora's cloud-based microservices architecture, the enterprise platform helps companies test and launch new subscription products faster at scale ⁠— beyond tens of millions of active subscriptions.

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The Zuora Central Platform arms subscription businesses with the agility to adapt to market demands at scale. (Graphic: Business Wire)

A company's true competitive advantage comes from its on-going relationships with customers. While product-centric S&P 500 companies saw sales decline in Q1 2020, customer-centric subscription businesses have proven to be resilient and agile amid unpredictable market conditions. Roughly half of these companies saw limited impact to their subscription growth rates, while 20% actually saw an acceleration.

According to the Subscribed Institute, subscription businesses who are agile enough to respond to changing customer needs grow at three times the rate of their peers. With a flexible platform, companies can offer customers more options and greater control over their subscriptions. For example, by offering customers options to suspend subscriptions, the Institute found that subscription businesses can save 1 out of every 6 customers from churning.

However, IT teams, hamstrung by monolithic systems, can’t swiftly adapt, seize growth opportunities, or scale amid external pressures. “COVID-19 is a great example of an unpredictable and massive impact on businesses which requires an agile platform to enable the company to react at scale to offer concessions such as suspends, payment delays, and offer credits so businesses can accommodate their customers quickly and reduce churn,” said Mark Thomason, Research Director at IDC. “Businesses need easy ways of testing growth ideas like new products and bundles so they can be prepared as the market heals. Having a solid technology foundation and infrastructure that efficiently enables this agility is critical today and is paramount to sustaining, growing, and competing in any economic climate,” continues Thomason.