Subscribed 2016: Zuora Finance - The Subscription CFO's Best Friend
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Know what it takes to successfully address finance in the Subscription Economy? From recurring revenue recognition to closing your books, from multi-entity tenants to audit trails - our finance experts review the key capabilities that matter. Check out Zuora Academy for more actionable advice for finance, marketing, tech, operations, product, and more. All the info you need to build and run an amazing subscription business: https://www.zuora.com/academy/
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Subscribed 2016: Zuora Finance - The Subscription CFO's Best Friend
- 1. Zuora Finance The Subscription CFO’s best-friend Lei Jin Senior Director, Zuora Product Management Angela Ngo Client Manager, Zuora Global Services Zuora Finance The Subscription CFO’s best-friend Lei Jin Senior Director, Zuora Product Management Angela Ngo Client Manager, Zuora Global Services
- 2. Zuora: A prospect-to-cash solution for relationship- centric enterprises page 02 Integration. Scalability. Reliability. Security. Compliance. Extensibility. App Marketplace Pricing & Packaging Pricing, Bundling, Entitlements Billing Rating, Invoicing, Taxation Analytics Sub. Identity, Dashboards, Report Builder, Segments, Triggers Payments Online payments, Offline payments, Credits, Adjustments Revenue Revenue Recognition, Accounting Close, GL Integration Subscriber Managemen t Cross-sells, Upsells, Renewals, 360 Sync, Self Service Quoting Configuration, Guided Selling, Rules Engine Platform
- 3. Main investment area for CFOs: Close Books Accurately & Quickly page 03 Integration. Scalability. Reliability. Security. Compliance. Extensibility. App Marketplace Pricing & Packaging Pricing, Bundling, Entitlements Billing Rating, Invoicing, Taxation Analytics Sub. Identity, Dashboards, Report Builder, Segments, Triggers Payments Online payments, Offline payments, Credits, Adjustments Revenue Revenue Recognition, Accounting Close, GL Integration Subscriber Managemen t Cross-sells, Upsells, Renewals, 360 Sync, Self Service Quoting Configuration, Guided Selling, Rules Engine Platform
- 4. Main investment area for CFOs: Better Reporting & Analytics page 04 Integration. Scalability. Reliability. Security. Compliance. Extensibility. App Marketplace Pricing & Packaging Pricing, Bundling, Entitlements Billing Rating, Invoicing, Taxation Analytics Sub. Identity, Dashboards, Report Builder, Segments, Triggers Payments Online payments, Offline payments, Credits, Adjustments Revenue Revenue Recognition, Accounting Close, GL Integration Subscriber Managemen t Cross-sells, Upsells, Renewals, 360 Sync, Self Service Quoting Configuration, Guided Selling, Rules Engine Platform
- 5. Main investment area for CFOs: Scale for Global Enterprises page 05 Integration. Scalability. Reliability. Security. Compliance. Extensibility. App Marketplace Pricing & Packaging Pricing, Bundling, Entitlements Billing Rating, Invoicing, Taxation Analytics Sub. Identity, Dashboards, Report Builder, Segments, Triggers Payments Online payments, Offline payments, Credits, Adjustments Revenue Revenue Recognition, Accounting Close, GL Integration Subscriber Managemen t Cross-sells, Upsells, Renewals, 360 Sync, Self Service Quoting Configuration, Guided Selling, Rules Engine Platform
- 6. 2016-2017 areas of investment for the Finance Team page 06 Continue to help you close books accurately and quickly Better reporting and analytics for your business Enable you to scale operations for a true Global Enterprise
- 8. what we have today page 08 Subscription sub-ledger Alignment with your GL Revenue Recognition Rules International currencies
- 9. what you have been asking for page 09 Automated AR Roll-Forward Capabilities Extended FX functionality • Realized/unrealized gain & loss calculations • Integrations to various FX rate sources of choice More options for GL integration
- 11. what we have today page 011 Zuora metrics in SFDC Insights Reporting
- 12. what you have been asking for page 012 Performance metrics by product Non-GaaP KPI’s • Sales bookings • Renewal forecasts • Downsell metrics • Churn metrics
- 13. what’s new this year on the horizon page 013 • You heard about our new Reporting product that will make presenting these data a lot more pleasant for you • But the underlying secret sauce has always been our purpose built data model that can track all the key business information • We are continuing to enhance with the following projects: • Order • Payment Details
- 14. Order – what’s there now page 014 Today, in Zuora, the most central concept is a Subscription. Those represents the products/services that a customer subscribes to • A user can create a subscription in Zuora and can create various types of amendments to modify the subscription. • There is not an explicit concept of a sales order. • Billing Schedule and Revenue Schedules are created against the subscription Subscription Billing Schedule Revenue Schedule Amendment Modifies
- 15. page 015 Subscription 1 Order Order Action 1: Renew subscription Order Action 2: Add 500 seats Subscription 1 is renewed At the same time, 500 more seats are added to subscription Order Action 3: Add new subscription Subscription 2 New subscription is created • We are introducing the concept of an Order • A user can now create an Order to both create and modify a subscription • An Order can create/modify multiple subscriptions at once, and across multiple customer accounts • This makes it easier to report bookings metric (e.g. upsell, churn, renewal add-on) Order concept
- 16. page 016 Subscription Order 1 (Initial) Order 2 (Upgrade) Billing Schedule 1 Revenue Schedule 1 Revenue Schedule 2 Billing Schedule 2 • Billing Schedules and Revenue Schedules can now be created at the Order level and aggregated up to the Subscription level • Through Zuora for SalesForce integration, we can tie an Order to a Quote and therefore to a sales opportunity. • This enables reporting on billing and revenue by sales opportunity Order concept (cont’d)
- 17. Payment Details page 017 • We are introducing the next level of details for Payment, where you can now, not only apply payment against invoices, but also know which invoice items it applies against • This significantly enhances your ability to manage and report cash at the product level Apply payment by invoice line items
- 19. what we have today page 019 GL Segmentation Summary Level JE by BU Summary Level JE by Currency International currencies
- 20. what you have been asking for page 020 Close the books by entity/region Define functional system behavior and admin access by entity Single view of your business
- 21. what’s new this year page 021 Multi Entity
- 22. • Introducing a multi-layer, hierarchical entity structure that models how Global Enterprises organize themselves • Each entity represents a legal entity or business unit that operates independently and can sell to multiple countries • New entities can be added or deactivated dynamically as company structure changes
- 23. • A user can be given access to one or more entities, with a single login, but potentially different roles/permissions in each entity
- 24. • Operationally, each entity is shielded from other entities, with separate • Accounting close process and Home currency • Bill run, Payment run, and Journal run • Configuration settings such as invoice number ranges, time zone, and billing settings • Set of billing accounts and associated AR and revenue transactions • Product catalog
- 25. • Zuora Reporting would give the option to do roll-ups where a user from a “parent” entity can access data from “child” entities. • Currency amounts can be converted into the home currency of the current entity.
- 26. • Zuora also offers sharing and central management options to make management across entities easier. • Product Catalog can be shared, allowing entities to cross sell products from other entities.
- 27. • Each entity that owns the product can specify which entities can sell the product and what rate plans are applicable. Sharing Product Across Entities
- 28. • Each receiving entity can then choose to make the product available by “accepting” the product. • Depending on permissions and roles, new rate plans can be added or existing rate plans and product information can be edited Creating a Product shared from another Entity
- 29. Summary page 029 Better Reporting and Analytics Close Books Accurately & Quickly Scale for Global Enterprises
- 30. Check out Zuora Academy for more great info and actionable advice. All the info you need to build and run an amazing subscription business. https://www.zuora.com/academy/
Notas do Editor
- Lei & Angela Intro
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- Angela So to level set, we’d like to recap what’s previously been delivered. We’ve enabled Zuora to map to your GL – from an account standpoint AND time-period standpoint We’ve developed logic to automatically calculate your sales-related transactions on an accrual basis. So no more living in spreadsheets to calculate earned vs. deferred revenue We’ve enabled international currencies, which allows you to transact in any currency within Zuora, and aggregate those transactions on a currency by currency basis In short we’ve developed functionality for Zuora to serve as your subscription subledger. Our engine can hold your complex pricing models, bill and collect on those products domestically and internationally, and summarize those transactions into GAAP compliant summary level journal entries
- So as we’ve stood by you over the years with our implementations and our ongoing customer success activities, we’ve heard that you’re keen to see our systems automatically calculate your AR roll-forward We’ve heard that instead of getting your aggregated FX transactions at month-end from Zuora, and calculating the realized and unrealized G/L yourself—you’d like to see us take on that functionality We’ve heard that you’d like more options for how Zuora can integrate to your GL Lei, can you share what we’ve done to address this feedback?
- Lei
- Obviously reporting is critical to your business What we’ve previously delivered to understanding your business is: Data sync to your SFDC instance so Zuora-executed transactions are visible in your CRM We’ve made a huge investment in our acquisition of FrontLeaf, a product that allows you to view your subscriber base by financial metrics, usage, and engagement. And we’ve made incredible headway on our reporting capabilities
- Deeper analytics and visibility into your subscription business performance Some of these items include things like: Ability to review your subscription business performance by product-line Ability to view your business’s Non-GAAP and non-billing related metrics like: Sales bookings Renewal forecasts Churn metrics Downsell metrics (classified as churn?) Lei – perhaps you can share with is what’s been in the works?
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- So what we’ve rolled-out to date which offers you the ability to operate multiple business units in Zuora: GL segmentation – we’ve introduced the ability to tag your transactions by BU, so when summary-level entries are created, we can created them by BU Ability to execute transactions in multiple currencies, and summarize those transactions by currency Here’s what you’ve been asking for:
- Define entity you’d like the ability to operate in one tenant, but close your books by entity or region You’d like to define functional system behaviour by entity or region But you’d still like to have a single view of your subscription business across all entities in one platform Here’s what we’re working on
- Effective dates
- Some way to do this from the global entity to create user directly. Would like this be the default.
- Close multiple entities at the same time
- Not clear how to do MRR, do we revalue, it’s not financial transaction, but a metrics.
- global define monthly period, americas would inherit that or change that, and then every entity underneath can inherit (and potentially change). Not critical.