On-demand software company, LeadMaster Australia, has deployed a cloud-based billing solution from Zuora which it claims cut average customer invoicing and receipt times by two weeks.
LeadMaster rolled out Zuora’s Z-Business platform in September 2012 to manage, streamline and scale its subscription offerings, beginning with its software-as-a-service based CRM offering. The solution automates client invoicing and replaced a manual process.
LeadMaster said the new cloud-based solution also gives it the ability to manage and create deferred revenue schedules and track subscription sales of its products in a monthly, quarterly or annual fashion.
In December last year, the company also signed up for Zuora’s Z-Finance platform, which provides traditional financial services while also helping to generate business metrics including annual and monthly recurring revenue, accounting rate of return and churn.
LeadMaster CFO, Socrates Jimenez, said invoicing subscriptions used to be a manual process that wasn’t completed until the first or second week of each month, dragging payments out to 35 days. With the automated billing system, revenue return times have been cut to 10 days under net seven day returns.
“We’ve reached a stage in our growth where we need to see more than just six months ahead,” Jimenez continued. “We need to plan 12, 24 or 26 months ahead. Zuora takes us where our accounting package can’t. It helps us to automate the baseline and for the first time gives us the ability to analyse and report subscription information.” Zuora is a US-based firm focused on subscription solutions in the cloud. Other customers include Dell, Informatica, ZenDesk and Marketo.
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