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Accelerate Accounting Close w/ Firehost


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Accelerate Accounting Close w/ Firehost

  1. 1. AccelerateAccounting Close Featured Guest: FireHost
  2. 2. Meet the Panel Monika Saha Aaron Somer Bruce MacFadyenProduct Marketing Sales Engineering Chief Operating Officer @zuora @FireHost
  3. 3. Building the Next Great Enterprise Software CompanyGROW: FLOW: KNOW:Build and grow your Run and flow your Have the right metrics tosubscription business subscription business optimize your subscriptionand revenue. processes efficiently. business. Built by Experts Used by Leaders
  4. 4. • 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 FireHost4
  5. 5. Noted in Gartner’s 2012 Magic Quadrants forMANAGED HOSTING & PUBLIC CLOUD
  6. 6. Zuora Was Built on the Prediction of a “Subscription Economy” BUY NOW 1999 2012+
  7. 7. The Subscription Economy Requires A Shift In TheApproach To Building Businesses BUY NOW Customer Focus is to Sell Units (Long-term, adoption, loyalty) Plan Based Billing/Pricing is SKU Based (Editions, Bundles, Usage) Commerce is One-Time Recurring Transactions (Subscription, add-ons, renewals)
  8. 8. And the shift to the Subscription Economy is placing a burden on finance teams… PAIN in the accounting close process “It takes us 17 days and multiple spreadsheets to close our books” 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” PAIN in the audit process “I have to pull data from 9 spreadsheets to reconcile our data for auditors” 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 GL summarization process “My general ledger doesn’t understand subscriptions. I can’t feed it un-billed deferred revenue”8
  9. 9. The Top 3 Things That Contribute To This Pain9
  10. 10. 1: Market-Driven Pricing Strategies Finance Team10
  11. 11. 2: Subscription Lifecycle Commerce I get to sell into my install base. Love those easy upgrades and renewals. Finance Team11
  12. 12. 3: Customer-Centric Billing Demands I offered a credit to prevent churn and increase customer satisfaction. Finance Team12
  13. 13. Result: It takes Weeks for finance teams to close the books We need more time - Finance Team13
  14. 14. FireHost’s Journey with Zuora + Time to Implement 1 Month More Customers to Bill Instantaneously Expand Internationally Instantaneously Month End Close Accelerated Reliance On Spreadsheets Reduced • 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 changes14
  15. 15. Introducing Z-Finance …
  16. 16. Z-Finance Is Built On A New Foundation Multi dimensional Ledgers Spread revenue over time Differentiate between one time and Intelligent Algorithms recurring revenue Revolutionary Data Model Calculates key subscription metrics Powerful Rules Engine Adapts to subscription changes16
  17. 17. Product Demonstration17
  18. 18. Process And Systems Landscape For A Subscription Business Product Accounting & Marketing Finance Commerce Billing Finance Commerce Finance• Sales Reps• Account Managers CRM • Lead/Oppty Mgmt • Pricing/Packaging • Accounting Alignment • Quoting • Invoicing • Revenue Recognition • Ordering/Provisioni • Tax • Accounting Period Close ng Collections/Remitta • Budgeting/Forecasting nce • Commissions/Revenue General Ledgers • Renewals • Website Management • Payments/Collectio Sharing user Billing/Payments/ • Sales Forecasting ns Subscription Lifecycle Integration • GL System E-Commerce Collections • Suspension/Cancella (Upgrades/Renewals) tion Billing • Billing OpsAccount Management Payment Gateways
  19. 19. Demo Agenda1) Zuora Product Catalog2) Customer upgrade3) Customer service credit4) Accounting close process / reporting
  20. 20. Z-Business Product Demo