Zuora, Inc. (ZUO) - Get Zuora, Inc. Class A Report, the leading cloud-based subscription management platform provider, announced today that customer F5, a multi-cloud application security and delivery company, has enhanced its ability to sell software products with a subscription model on the Zuora® platform.
Deloitte's Everything-as-a-Service (XaaS) Study found that in 2020, 75% of organizations reported consuming more than half its enterprise IT as-a-service, up from 71% in 2018. "The companies that think beyond the typical as-a-service use cases and leverage XaaS for advanced or emerging technologies, like new hybrid services that combine on-premise services and cloud, may be able to stay a step ahead of the game," said report author Jeff Loucks, Managing Director, Deloitte Services LP; and Executive Director, Center for TMT at Deloitte.
F5 is one of those companies. Its application security and delivery solutions help customers be more agile. F5 technologies, including as-a-service offerings, enable the delivery of digital experiences that let consumers everywhere complete everyday tasks, such as online banking, purchase groceries, or stream videos from their mobile devices.
Two years ago, F5 engaged Zuora and global systems integrator Deloitte, to realize the vision of a broader software subscription portfolio and better meet customers where they are and how they want to consume F5's services.
"To deliver on our customers' expectations, we knew we needed to improve capabilities around amendments, choice of subscription durations, and recurring billing—functionality that has become table stakes for subscription software offerings," explained Charles Chen, Director, Product Management at F5. "Since that time, we've come a long way with Zuora."
Zuora worked closely with F5 to support customer demand for its subscription-based offerings, seamlessly enabling features like staggered start dates, ramp up subscriptions, and performance metrics calculations. "We were able to put the options customers wanted right at the fingertips of our account managers, eliminating purchasing friction—all made possible by Zuora's out-of-the box capabilities," added Chen.
F5 has adopted a variety of products on the Zuora platform, including Zuora Billing and Zuora Collect. They have also invested in Zuora University, a subscription training service that provides classes and certification to help F5 team members optimize usage and obtain maximum ROI from the Zuora platform. In addition to day-to-day operational benefits, F5 is now better able to serve customers seeking the value and flexibility offered by a subscription model, with specific offerings based on F5's traditional technology areas as well as those from acquisitions such as NGINX and Shape Security.
"Businesses, enterprises, financial institutions, services providers, governments, and consumer brands worldwide bring extraordinary digital experiences to life each day with F5," said Chen. "Zuora has played a significant role in evolving our subscription-based software portfolio, and we look forward to exploring additional opportunities with them in the days to come."
To read more about F5, read the case study.
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 seamlessly across billing 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.
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SOURCE: Zuora Financial
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