SAN MATEO, Calif.--(BUSINESS WIRE)--Zuora, Inc., (NYSE:ZUO) the leading cloud-based subscription management platform provider, announced today at its Subscribed for IoT event in Chicago, IL, that Sensormatic Solutions, a global retail solutions portfolio of Johnson Controls, Inc., is using the Zuora® Central Platform to automate its existing retail solutions and launch new digital subscription offerings for retailers worldwide.
Today’s consumers are demanding highly personalized, digital shopping experiences. As a result, retailers are turning toward new technologies to reinvent their existing transactional businesses into innovative retail experiences. In fact, in its “Forecast on Enterprise IT Spending for the Retail Market,” Gartner forecasts global retail spending on technology to reach nearly $203.6 billion in 2019. However, as retailers attempt to rapidly evolve their businesses to meet shifting demands, they require a flexible, iterative digital solution to help them better understand their customers.
Sensormatic Solutions helps retailers enhance and build upon the entire retail experience with real-time data and insights -- from loss prevention to in-store foot traffic to inventory management -- and to fully digitize retail assets for a 360 degree view of the customer.
“Our vision is to provide retailers with the technology they need to offer smart and connected shopping experiences,” said Subramanian Kunchithapatham, VP Engineering at Sensormatic Solutions. “Zuora will be a core element in helping us transform our existing portfolio of retail solutions into ongoing, valuable services for our customers.”
Sensormatic Solutions recognized the need to expand and evolve its offerings with Zuora to meet these customer demands and ultimately realize its full retail market potential. With the Zuora Central Platform, the organization now has the ability to seamlessly automate its existing retail service offerings and launch new, flexible, subscription-based technology solutions for customers with a single, centralized subscription system of record. Sensormatic Solutions will leverage Zuora to manage the complexities of launching its forthcoming subscription offerings and become more agile, quickly iterating its solutions to help retailers meet dynamic market demands and provide better retail experiences for consumers globally.
Kunchithapatham will speak at today's Subscribed for IoT event, leading a session titled, “Subscription Business Model Innovation: The 3 Plays and How to Successfully Launch.”
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-cash process, including billing and revenue recognition. Zuora serves more than 1,000 companies around the world, including Box, Rogers, Schneider Electric, Xplornet and Zendesk. Headquartered in the 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.
About Johnson Controls
Johnson Controls is a global leader creating a safe, comfortable and sustainable world. Our 105,000 employees create intelligent buildings, efficient energy solutions and integrated infrastructure that work seamlessly together to deliver on the promise of smart cities and communities in 150 countries. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. We are committed to helping our customers win everywhere, every day and creating greater value for all of our stakeholders through our strategic focus on buildings. For more information, visit www.johnsoncontrols.com or follow @johnsoncontrols on Twitter.
About Sensormatic Solutions
Sensormatic Solutions is the leading global retail solutions portfolio of Johnson Controls enabling smart and connected shopper engagement. By combining critical insights into retail inventory, shopper traffic and loss prevention, Sensormatic Solutions powers operational excellence at scale and helps create unique shopping experiences. Our solutions deliver real-time visibility and predictive analytics for accurate decision-making across the enterprise, enabling retailers to confidently move into the future. With more than 1.5 million data collection devices in the retail marketplace, we capture 40 billion shopper visits and track and protect billions of items each year. Our retail portfolio features the premier Sensormatic, ShopperTrak and TrueVUE brands. Please visit Sensormatic Solutions, or follow us on LinkedIn, Twitter, and our YouTube channel.
© 2019 Zuora, Inc. All Rights Reserved. Zuora, Subscribed, Subscription Economy, Powering the Subscription Economy, and Subscription Economy Index 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.
SOURCE: Zuora Financial
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 growth and trends in the global retail sector, consumer buying trend expectations, the expected growth and trends in the market for subscription businesses, and the expected benefits of any such trends. Any statements that are not statements of historical fact may be deemed to be forward-looking statements, and actual results could differ materially from those stated or implied in forward-looking statements. This press release also includes market data and certain other statistical information and estimates from industry analysts and/or market research firms. Zuora believes these third party reports to be reputable, but has not independently verified the underlying data sources, methodologies or assumptions. Information that is based on estimates, forecasts, projections, market research or similar methodologies is inherently subject to uncertainties and actual events or circumstances may differ materially from events and circumstances reflected in this information.
