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Zuora cements its position as the leading system of record for subscription businesses

Sopra Steria extends successful service delivery contract with Royal London Group Sopra Steria has today announced a two and a half year contract extension with Royal London Group, the largest mutual life, pensions and investment company in the UK. The contract extends Sopra Steria’s current Applications Management engagement and will run until 2022, together with a minimum contractual commitment to support the delivery of Royal London’s business change portfolio over the next five years. Sopra Steria began working with Royal London in 2014 when it led the separation, migration and integration of the Co-operative Life & Savings business into Royal London’s estate. This was one of the largest divestment and separation projects undertaken in Europe involving the separation and transfer of IT and business assets including customer data, on-line and batch systems and processes. Post-migration, Sopra Steria’s relationship has deepened as it has supported the transformation of Royal London’s Life and Savings operation, significantly reducing operating costs and risks, and delivering a large change portfolio to enhance customer services. The new contract will build on these strong foundations, providing a range of capabilities to facilitate the delivery of Royal London’s service excellence and transformational change objectives. Andy McGarrie, Chief Technology Officer, Royal London Group, said: “Sopra Steria have successfully supported Royal London Group in the Application Maintenance and Development arena since 2014 and through optimisation initiatives have helped us to reduce ongoing operating costs on our closed book estate. Following a review of our engagement we are now in a position to re-focus our attention – driving productivity, value and efficiency in the area of application development and change delivery portfolio. We are pleased that Sopra Steria is able to adapt their working relationship with us in a way that more closely meets our business priorities.” Melba Foggo, Managing Director, Consulting UK, Sopra Steria, said: “This exciting news reflects our excellent delivery track record over the past four years and the committed development pipeline provides a significant opportunity to further develop our relationship as a trusted service and change delivery partner for Royal London.”

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 Zuora, Inc. (NYSE: ZUO), the leading cloud-based subscription management platform provider, yesterday announced its Spring ‘18 product release.

Finance teams are under immense pressure to support the growth of their businesses. A recent Deloitte  report found that CFOs indicate a strong bias toward revenue growth over cost reduction (64% vs. 18%). Yet 41% of CFOs said staying current with changing technology is the greatest pressure facing their accounting and finance teams according to the Robert Half Management Resources survey.

 The Zuora Spring ‘18 release empowers the office of the CFO to be a critical driver of growth with the first and only complete subscription order-to-revenue solution on the market. Zuora has built new capabilities for the finance and operations team of the future – including Billing, Collections, Revenue Accounting, Deal Desk, Orders, and CXOs.

“This is our biggest product announcement ever,” said Zuora SVP of Product Tom Krackeler. “The Zuora Spring ‘18 release includes a number of new features and product upgrades to arm finance teams with the technology required to address their most pressing subscription order-to-revenue needs.”

Subscription Order Management Designed for Customer Expansion

For a typical subscription business, around seventy percent of revenue comes from the existing customer base through renewals, upsells, and cross sells. This Zuora Central Platform upgrade allows finance and operation teams to more easily process and capture these subscription change orders.

  • Capture Expansion Upfront: Rapidly growing sales teams can book multi-year expansion contracts upfront
  • Increase Subscription Orders Flexibility: Capture complex changes for existing subscriptions, including multi-subscription and multi-site scenarios
  • One Place for Order Metrics: Out-of-the-box change order metrics like Monthly Recurring Revenue, Churn Rate, Net Retention visualized on a configurable dashboard
  • Automate Order-to-Revenue: Comprehensive change order data is captured to recognize revenue under ASC 606 compliance

New Workflow Builder Brings Greater Platform Automation

A new Workflow service in the Central platform gives teams greater efficiency and flexibility for account management, provisioning, invoice management, and other business processes.

  • Easily Customize: Easy, drag-and-drop workflow builder
  • Automate Everything: Using conditional logic and rules to tailor each workflow
  • Reduce Custom Code: Integrate quickly to other systems without custom code

Zuora Collect, now Generally Available, Maximizes Recurring Payments

Zuora Collect helps collections teams reduce revenue leakage and involuntary churn caused by ineffective collections processes for recurring payments.

 New Zuora RevPro UI Designed for Greater Revenue Automation

Zuora RevPro enables businesses to automate revenue recognition.

  • Better Performance: Improved system speed for task rendering and data loading, resulting in a more pleasant user experience
  • Seamless Navigation: New intuitive design allows users to navigate more easily
  • New and Optimized Reporting: A new configurable dashboard, faster load times, data grids with advanced filtering, no export limits, drill-down capabilities, and more

New Capabilities for Easier Invoice Settlement in Zuora Billing

New capabilities gives greater control throughout the entire AR process.

  • Manage Payment Operations: Process payment applications and unapplied payments the way customers demand
  • Align with Accounting Mechanisms: Correct, adjust and manage account balances with credit and debit memos
  • Gain Greater Control: Enjoy granular reporting and accounting for AR settlement activity with line item settlement

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