eMoney has approximately 57,000 subscribers and is in the midst of rapid growth and expansion both internally and externally. In 2016, the company came to a crossroads realizing that the offline environment that had led to their current success was not capable of scaling.

As Barrie Effron, VP of Business Analytics Systems and PMO at eMoney, explained: “Picture this: a billing team sitting around a conference room table with literally piles of contracts – physical contracts – all of which had to be scanned, recorded, processed and faxed. It simply wasn’t sustainable. We couldn’t hire finance staff fast enough and our customers demanded a better way.”

Adds Megan Murray, Head of Finance at eMoney, “We knew we had to move our business systems online, but it was a huge undertaking and a cultural shift.”

After a team of eMoney executives attended Zuora’s Subscribed conference, said Murray, they “knew that Zuora was absolutely the right partner to help guide [them] through the organizational and financial changes required to transform from a traditional service model to a subscription-based business,” — and specifically to help with the billing and finance aspects of their online business.

As Rachel Kaplan, Program Director for Internal Systems at eMoney says, “While we have always operated under a SaaS model in some sense, we never really thought of ourselves as a subscription business — and our operations and technology weren’t aligned to a subscription model. It wasn’t until Zuora that we realized that our manual offline processes for billing and payments weren’t scalable to support the pace of our growth.”

From day one, eMoney was all in on Zuora. “Our sales, billing, contracts, legal and client services teams were trained on our new Zuora workflow from the start, and it’s been very successful,” says Effron.

Adds Kaplan, “We redesigned our entire sales process around Zuora, which has led to many improvements on our end — and for our customers.”

Just six months after implementation, eMoney has already seen vast improvements with Zuora at the center of their billing business model transformation:

• More productive sales teams. They’ve created an easier quote-to-cash process for their sales, contracts, and billing teams which has slashed the time from signature to payment from 500 hours to 34 hours – a 93% improvement.
• Extensible self-service platform for a better customer experience. eMoney has created a self-service framework for its customers to view contracts and update payments online. From order-to-revenue, Zuora manages all financial processes, working seamlessly with Salesforce and Docusign. “Our site is embedded in Zuora so customers don’t feel bounced around,” says Effron. “It’s a seamless, end-to-end experience for customers.”
• More efficient financial processes.The flexibility of the Zuora platform enables eMoney to continuously adjust internal processes and improve efficiencies. They’re now invoicing 100X faster, collecting payments 75X faster, and provisioning 127X faster.