Gets handful of new patents to bolster subscription platform
On the heels of unveiling insights gleaned from its latest Subscription Economy Index (SEI), Zuora, a provider of cloud-based subscription management, has announced the addition of five new patents to its portfolio.
The Lowdown: The U.S. Patent and Trademark Office has awarded Zuora with new patents for technology aimed at enhancing the company’s flagship subscription billing and revenue-recognition offerings.
The Details: The five new patents include:
• A method for projecting recognizable revenue based on the likelihood of deviation • A method of triaging system assets in multi-tenant architectures • Several methods for optimizing product and system performance and security
Background: According to Zuora’s most recent SEI, sales for subscription-based businesses in North America, Asia-Pacific, and Europe have grown 300 percent over the past seven years – from Jan. 1, 2012, to Dec. 31, 2018. Those businesses have increased their revenue about five times faster than S&P 500 companies.
The findings underscore the channel’s need to embrace subscription and recurring revenue-based business models as companies transition away from traditional transactional purchases. For solution providers, the subscription economy also presents a tremendous opportunity to help organizations of every size and stripe repurpose their businesses, drive efficiencies, and boost profitability.
The Buzz: “We’re excited to be solving the most challenging engineering problems that will enable companies around the world to transform their business models and benefit from these innovations for the next decade of their growth,” said Brent Cromley, senior vice president of technology at Zuora, San Mateo, California. “Zuora’s latest patents reflect the consistent execution of our technology team to continuously innovate our two flagship products—Zuora Billing and Zuora RevPro®.
Added Jennifer Pileggi, Zuora senior vice president and general counsel: “Zuora’s patent portfolio has seen exciting growth, reflecting the continued investment in our best-in-class technology, the continued growth and sophistication of our engineering teams, and unparalleled value for our customers.”