Zuora Launches Collect AI for Subscription Businesses

Zuora has launched Zuora Collect AI as part of its subscription management suite of applications, powered by the Zuora Central Platform.

Zuora Collect AI leverages machine learning from billions of dollars in transactions to automate smart payment retries. Its machine learning model looks at more than 15 characteristics of a transaction and ingests new data daily.

Zuora Collect AI is purpose-built for recurring and usage-based business models. Automated payment retry abilities are powered by machine learning that continually creates insights from more than 35 payment gateways, 20 payment methods, and 180 currencies.

"Zuora's decade of expertise driving subscription businesses, while handling billions of data points, enables us to inject this intelligence directly into the product," said Sri Srinivasan, chief product and engineering officer of Zuora, in a statement. "Collect AI is a true expression of our unique value to the market. Our technology is constantly learning from the largest ecosystem and data set in the subscription economy to help our customers maximize returns from their subscription services."

"By unifying all subscription revenue processes on a common platform, Zuora is helping customers to ensure predictable revenue growth, customer retention, and bottom-line efficiency," said Kevin Permenter, research manager of enterprise applications at IDC, in a statement.

Customers who piloted the technology have seen very positive results.

"Zuora Collect AI has helped us recover more revenue and keep more subscribers. We put an end to the rule-based payment retries and replaced it with machine learning that adapts to every customer. Our payment success rate has already increased by 18 percent in just two months," said Daniel Wette, CEO at software company rankingCoach, in a statement.

"With Zuora Collect AI, we've increased our average payment recovery rate by an additional 10 percent from what it was when the product had no machine learning. Using an AI-driven retry strategy also prevented us from starting a time-consuming research project that would have required testing to parse out the most optimal times to retry payments," said Susanna Wright, fraud and payments manager at Whitepages, in a statement.

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