Zuora, Inc., (ZUO) - Get Zuora, Inc. Class A Report the leading cloud-based subscription management platform provider, announced today that CareAR, a Xerox company and augmented reality service, is working with the Subscribed Strategy Group (SSG) to implement the Zuora® platform to launch and monetize its digital customer support services as they enter the global market.
With the launch of CareAR, Xerox is leading an industry-wide trend toward adoption of augmented reality (AR) technology in the B2B enterprise market. A recent Technology, Media & Telecommunications (TMT) Predictions 2021 report from Deloitte predicts that AR -- along with virtual reality and mixed reality, collectively known as XR -- will grow by 100% in 2021 over 2019 levels, as will sales of software and services related to this technology.
In addition to leveraging AR technology to deliver a revolutionary service experience management offering, CareAR leverages a new SaaS business model and relies on Zuora to deliver a subscription experience that goes beyond the product capabilities.
"Increasing access to our services is exactly why we're delivering CareAR through a digital subscription model," said Sam Waicberg, CareAR President. "Zuora is helping us create a seamless subscriber experience so that our customers can focus on enjoying the groundbreaking AR technology rather than operational details."
Zuora is providing CareAR with the technology to power its subscription monetization, revenue recognition, streamlined billing, invoicing, pricing model experiments, and real-time reporting. In terms of payments, Zuora provides credit card capabilities on a global scale, as well as tax handling compatible with the billing process in a wide range of countries.
"The flexibility of a subscription model allows CareAR customers to scale up as needed. The Zuora team has set us up very well as we begin our subscription journey, with support for our customers for the lifetime of our relationship with them," said Samantha Wilmot ,Vice President and General Manager at CareAR, a Xerox company.
Zuora's Subscribed Strategy Group is also helping CareAR define its launch strategy. Waicberg said, "Zuora's expertise through the SSG is providing continuous strategic decision support to our leadership across a wide array of mission-critical topics, including the core offering's bundling, packaging and pricing strategy, go-to-market positioning, subscriber activation tactics, acquisition and adoption projections, performance management, and action planning."
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About Zuora, Inc.
Zuora provides the leading cloud-based subscription management platform that functions as a system of record for subscription businesses across all industries. Powering the Subscription Economy®, the Zuora platform was architected specifically for dynamic, recurring subscription business models and acts as an intelligent subscription management hub that automates and orchestrates the entire subscription order-to-revenue process across billing, collections and revenue recognition. Zuora serves more than 1,000 companies around the world, including Box, Ford, Penske Media Corporation, Schneider Electric, Siemens, Xplornet and Zoom. Headquartered in Silicon Valley, Zuora also operates offices around the world in the U.S., EMEA and APAC. To learn more about the Zuora platform, please visit www.zuora.com.
© 2021 Zuora, Inc. All Rights Reserved. Zuora, Subscription Economy, Powering the Subscription Economy are trademarks or registered trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies. Nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of Zuora, Inc. or any aspect of this press release.
SOURCE: Zuora Financial
CareAR, a Xerox company, is the Service Experience Management (SXM) leader. We make expertise accessible instantly for users through remote, live visual augmented reality (AR) and AI interactions, instructions and insights as part of a seamless digital workflow experience. CareAR sets the benchmark for the SXM category by bridging skills gaps, accelerating knowledge transfers, providing greater operational efficiencies, and enhancing customer outcomes and safety. Learn more at CareAR.com.
Xerox ® is a trademark of Xerox in the United States and/or other countries.
CareAR ® is a trademark of CareAR Holdings LLC in the United States and/or other countries.
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