Zuora, Inc., a major monetization platform for modern business, announced an extended partnership with Workday, Inc., combining Zuora’s order-to-cash automation with Workday Financial Management. This partnership aims business to consumer (B2C) companies a simpler way to handle complex billing and revenue streams, be it from subscriptions, usage-based pricing, special offers, or hybrid models.
With advancing customer expectations, companies are rethinking how they charge for products & services. Handling these new models can be challenging, particularly when billing rules differ for revenue type. By integrating Zuora’s monetization tools with Workday’s financial platform, companies can more easily track revenue, stay compliant with accounting standards, as well as speed up audits with automated reporting.
The certified Zuora Connector for Workday Financial Management manages the operational complexity of monetization as a specialized sub-ledger in Workday Accounting Center, automatically feeding financial records to Workday’s general ledger (GL). With a single, unified view, companies can strengthen the accuracy of financial processes without needing to manually enter data.
Executive Statement
According to Odd McElhatton, chief operating and financial officer at Zuora, announcement highlights their continued commitment to Zuora and Workday customers, combining Workday’s trusted financial backbone with Zuora’s intelligent monetization engine to optimize the order-to-cash process. Together, they are empowering finance to be a stronger strategic partner to the business, armed with the unified view of financial data necessary to go to market even faster.
According to Rob Enslin, president and chief commercial officer at Workday, accuracy is a constant challenge for companies managing complex revenue streams. Their partnership with Zuora will provide customers with a single, reliable view of their financial data – making it easier to operate efficiently, no matter the business model.