SVP, Corporate Communications
Industry Leaders to Jointly Develop and Offer Combined Solution to Automate Metering, Pricing and Billing
SAN MATEO, Calif. and REDWOOD CITY, Calif.—July 7, 2010—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based enterprise resource planning (ERP) / financial suites, and Zuora, Inc., a leading provider of cloud subscription billing solutions, today announced a partnership to jointly develop and offer combined solutions to companies that need to meter, price and bill for subscription- and usage-based products.
Zuora, Inc. is a preferred partner of NetSuite for subscription—and usage-based businesses. As a first deliverable of the partnership, the companies plan to integrate Zuora's Z-Commerce Platform with NetSuite and NetSuite's native cloud-based billing engine. The solution will support any subscription pricing model including one-time, recurring, usage and metering charges, and volume tier pricing, and enables companies to tailor products and pricing to specific market segments. Current NetSuite customers will be able to leverage the integrated capabilities to rapidly enable and expand subscription-based products and services, and automatically meter and bill customers through Zuora's Z-Billing capabilities. More information can be found at www.netsuite.com/zuora.
The partnership is designed to address the growing shift to the Subscription Economy. Consumers today are leading a revolution that demands more products and services via the cloud, including: software as a service (SaaS) applications, computing power, telecom services, travel services, digital media and content, textbooks, and much more. This shift is requiring businesses to adopt fundamentally different business models and new infrastructures to manage large transaction volumes with variable, fragmented, and usage-based, pay-as-you-go pricing structures.
The integrated solution from NetSuite and Zuora will address the needs of companies that have adopted this new business model. It will bring a host of powerful capabilities and benefits to these companies including:
"Zuora is an ideal NetSuite partner—a company built by and for cloud computing, the future of business," said Zach Nelson, NetSuite CEO. "Zuora's extensive experience in subscription services billing and management will make it easy for NetSuite customers to innovate and develop new revenue streams, while relying on the power and transparency of the cloud to support those initiatives."
"Technology companies are rushing to get new cloud offerings to market but until they solve the metering, pricing and billing problem, they are in for a world of pain," said Zuora President and General Manager Shawn Price. "By partnering with NetSuite, we are combining two of the most powerful solutions to address this new market reality. NetSuite pioneered financial and billing solutions for the cloud, and together we can address many of the opportunities created by the shift to the Subscription Economy."
"As cloud service providers continue to link services the way that NetSuite and Zuora are doing, enterprises benefit from a constant flow of new capabilities and functionality, without the need to retain additional IT expertise or build out hardware infrastructure," said Vinnie Mirchandani, founder of Deal Architect, a leading industry analyst and published author. "Integrated cloud ecosystems demonstrate it is time for ‘AND not OR' in technology—a point emphasized at many points in my new book, The New Polymath."
About Zuora, Inc.
Zuora's subscription billing and commerce platform changes the way subscription businesses manage and sell to customers, allowing them to bring new products to market in less time, with more flexibility and less hassle. Zuora customers are up and running within 90 days and often recognize 200% ROI within weeks. Zuora is built from the ground up by SaaS industry visionaries and veterans from salesforce.com, WebEx, Accenture, Google, eBay, Oracle and Vitria. Zuora customers include Reed Business Information, Coremetrics, InsideView, Marketo, Ricoh, Box.net, Xactly, HD Cloud, Cloud Central and Sun Microsystems.
To learn more about Zuora, please visit www.zuora.com.
For more information about NetSuite, visit www.netsuite.com.
NOTE: NetSuite and the NetSuite logo are registered service marks of NetSuite Inc.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements relating to expectations, plans, and prospects including expectations relating to the future availability and functionality of the proposed joint NetSuite and Zuaora solution. These forward-looking statements are based upon the current expectations and beliefs of NetSuite's management as of the date of this release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements including, without limitation, risks associated with material defects or errors in the Company's software. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and NetSuite disclaims any obligation to update these forward-looking statements.
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