Zuora is expanding its platform to enable customers to move beyond subscriptions into point purchases.
The company, which provides subscription management software, launched Unified Monetization, a tool to enable customers to offer one-time offers as well as services. Unified Monetization aims to provide one management experience for subscriptions, products and usage-based services.
Zuora said Unified Monetization is aimed at “monetize anything-as-a-service” models. Use cases would include a car company unifying electric cars with charging services or a media company combining a streaming video subscription with live event tickets. Other examples would include companies selling hardware, installation services and consumable refills.
Unified Monetization will enable customers to bill for subscriptions and services on one platform and deliver one invoice if needed. The platform also has back-end integration and data reconciliation.
Sri Srinivasan, chief product and engineering officer at Zuora, said Unified Monetization will appeal to a broader customer base. “There’s an opportunity for Unified Monetization beyond our current customer base, as companies around the world are looking to monetize as many different product and service offerings as possible to maximize revenue opportunities,” he said.
Ultimately, supplemental services to subscriptions can enhance customer relationships, said Srinivasan. “Subscriptions are about an ongoing relationship with your customers and that relationship may require a variety of offerings and experiences,” added Srinivasan.