Zuora Becomes a Sovos Certified Compliance
Partner
Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern
businesses, today at Subscribed Connect Paris announced a
partnership with Sovos, a global compliance technology solutions
and services provider, to help global businesses meet electronic
invoicing (e-invoicing) mandates directly through Zuora.
As tax reform becomes more extensive around the world, numerous
countries have adopted or are planning adoption of global
e-invoicing mandates. But companies often struggle to comply with
fast-approaching standards, as requirements vary by country and
mandate timelines differ. Those that fail to meet government
requirements can face regulatory fees and consequences, including
potential lost revenue if they lose approval or licensure to
conduct business in certain regions.
Without the right solution, e-invoicing compliance often makes
the invoicing process manual, and building custom connections to
e-invoicing networks requires substantial IT resources and
infrastructure. In partnership with Sovos, Zuora now provides a
pre-integrated, automated e-invoicing solution that works directly
with its recurring billing.
As part of this partnership, Zuora also joins the Sovos
Certified Compliance Program, an innovative program that enables
transaction management platforms providers to leverage Sovos’
industry-leading e-invoicing compliance portfolio through certified
integrations to solve critical customer compliance requirements
wherever they are.
“By streamlining the process to meet e-invoicing mandates,
Zuora’s partnership with Sovos will enable companies to focus on
global expansion and driving recurring growth,” said Balaji
Subramanian, Vice President, Global Partner Ecosystem at Zuora.
“Now with Zuora, modern businesses can leverage critical data
already available in their modern billing system to reduce
complexity and meet e-invoicing mandates with one solution.”
The new partnership with Sovos enables Zuora customers to:
- Leverage an out-of-the-box solution to address local
e-invoicing regulations
- Meet compliance through country-specific templates, tax
management reports and e-invoice archiving capabilities
- Simplify operations by automatically passing billing
information from Zuora to Sovos to generate e-invoices
- Easily expand into new markets with a pre-integrated
e-invoicing solution, and leverage Zuora’s existing 40+
pre-integrated payment gateways and multi-currency support
“As a strategic Sovos Certified Compliance Program partner,
Zuora is the first in the transaction management category to
provide its customers with access to a global, 360° compliance
solution,” said Alice Katwan, President of Revenue at Sovos. “With
the compliance capabilities and coverage provided through our
partnership, Zuora’s customers are set to meet today's
international tax requirements, as well any changing regulations in
the future.”
In addition to the Sovos partnership, Zuora also provides
out-of-the-box PEPPOL data export, which can be used to submit
e-invoices through a Zuora workflow to the PEPPOL e-invoicing
network.
To learn more about e-invoicing through Zuora and Sovos, please
visit here.
About Sovos
Sovos provides businesses with the confidence needed to navigate
an increasingly regulated world. Offering a modern, IT driven
response to compliance, Sovos’ solutions are scalable, reliable and
secure and provide a great user experience. Sovos has more than
100,000 customers, including half the Fortune 500, as well as
businesses of every size operating in more than 70 countries. The
company’s cloud-based solutions integrate with a wide variety of
business applications and government compliance processes. Sovos
has employees throughout the Americas and Europe and is owned by Hg
and TA Associates. For more information visit http://www.sovos.com
and follow us on LinkedIn and Twitter.
About Zuora, Inc.
Zuora provides a leading monetization suite for modern
businesses across all industries, enabling companies to unlock and
grow customer-centric business models. Zuora serves as an
intelligent hub that monetizes and orchestrates the complete quote
to cash and revenue recognition process at scale. Through its
industry leading technology and expertise, Zuora helps more than
1,000 companies around the world, including BMC Software, Box,
Caterpillar, General Motors, Penske Media Corporation, Schneider
Electric, Siemens and Zoom nurture and monetize direct, digital
customer relationships. Headquartered in Silicon Valley, Zuora
operates offices around the world in the Americas, EMEA and APAC.
To learn more about the Zuora monetization suite, please visit
www.zuora.com.
© 2023 Zuora, Inc. All Rights Reserved. Zuora, Subscribed,
Subscription Economy, Powering the Subscription Economy,
Subscription Economy Index, Zephr, and Subscription Experience
Platform 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.
Forward-Looking Statements
This press release contains forward-looking statements that
involve a number of risks, uncertainties and assumptions, including
but not limited to statements regarding the expected benefits and
releases of the automated e-invoicing solution. Any statements that
are not statements of historical fact may be deemed to be
forward-looking statements. Actual results could differ materially
from those stated or implied in forward-looking statements due to a
number of factors, including but not limited to, risks detailed in
the “Risk Factors” section of Zuora’s Quarterly Report on Form 10-Q
filed with the Securities and Exchange Commission (SEC) on June 1,
2023, as well as other documents that Zuora may file from time to
time with the SEC. The forward-looking statements in this press
release are based on current expectations as of the date of this
press release and Zuora undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. To the extent that this
press release also includes market data and certain other
statistical information, that information is based on estimates,
forecasts, projections, or similar methodologies, and is inherently
subject to uncertainties, and actual events or circumstances may
differ materially from events and circumstances reflected in this
information.
SOURCE: ZUORA FINANCIAL
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version on businesswire.com: https://www.businesswire.com/news/home/20231019735553/en/
Media Contact: Margaret Pack press@zuora.com
619-609-3919
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