Subscription management software developer Zuora has partnered with financial management and accounting applications developer Intacct. The two companies announced this month the availability of a pre-integrated cloud connector that eases the integration between the billing and financial management applications of the two companies.
“These capabilities allow companies in the subscription economy to easily automate and streamline complex order management, billing, payment, and revenue recognition while gaining real-time visibility into key financial and business metrics,” the companies state in a joint press release submitted to ChannelPro-SMB.
“The subscription economy is increasingly forcing SMBs to re-think what systems they choose to run their business,” says Zuora CEO Tien Tzuo. “It is incumbent upon best-of-breed vendors to deliver integrated solutions that enable businesses to rapidly innovate without being burdened by the rigidity of monolithic suite applications. This connector is further proof of our commitment to helping customers easily integrate Zuora into their current financial processes.”
Subscription-based businesses struggle with systems that are typically ineffective for managing the demands of high volume recurring billing and often don’t support pricing flexibility and mid-term subscription changes. The Zuora-Intacct Connector aims to alleviate these challenges for subscription businesses with two features:
- Subscription revenue recognition automation based on bookings data, not just billings data.
- Midstream subscription amendments, with changes managed automatically by the billing and payment processing engines.
Additional benefits of the Zuora-Intacct Connector include:
- A pre-integrated cloud solution that can be deployed in relatively short order.
- Improved decision-making, with real-time visibility into key financial and business metrics.
- Elimination of duplicate data entry between subscription management and finance.
- Subscription services with creative and differentiated subscription pricing models in compliance with financial processes.
- Pre-built integrations from both Zuora and Intacct with adjacent systems, including Salesforce.com, Avalara, global payment gateways, and more.
Companies can amend and change subscriptions, without having to cancel and re-enter a new subscription, and have the new information update their revenue recognition schedule (whether based on bookings or billings). In addition, with accurate customer data being passed automatically through the connector, companies don’t need to hire additional staff to handle the increase in transaction volume when the business grows.