From Incubation To Reality (Accelerate East)
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The document discusses Borderfree's launch of a new business model called BoxHop. BoxHop allows international consumers to purchase directly from US retailers by providing them with a US shipping address. Borderfree built BoxHop using the Zuora subscription billing platform to manage subscriptions, payments, and customer profiles. The implementation followed Zuora's "Nine Keys to Subscription Success" framework and allowed Borderfree to quickly launch BoxHop, diversify its revenue streams, and expand its total addressable market.
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From Incubation To Reality (Accelerate East)
- 1. From Incuba,on To Reality Business Model Innova/on Within An Enterprise Mary Ransom SVP, Consumer Products Borderfree 1 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 2. Agenda 1. Borderfree Introduc/on 2. Building & Launching BoxHop 3. What Comes Next 4. QA 2 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 3. Introduc,on to Borderfree Who we are & What we do • Privately held; 190 employees in NYC (HQ), Tel Aviv (R&D), Toronto, Shanghai • Our soIware and services plaKorm extends retailers’ online capabiliOes globally • Sell to100+ countries and transact in 60+ currencies • International Checkout • Fraud/Risk Management • Customer Care Support Marketing • Marketing Strategies • Partnership Sourcing • Global Marketplaces • Carrier Management • Export Compliance • Omni-channel Support 3 Commerce Logistics Insights • Consumer Insights • Merchandising Strategies • Global Shopping Trends Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 4. Introduc,on to Borderfree Our Customers: Retailers & Shoppers 4 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 5. Evolving from B2B to B2C The Business Case for BoxHop CUSTOMER FEEDBACK • • • Shipping Costs too Much! Want to order from U.S. sites Want to place orders from non-‐ Borderfree merchants RESULT: BOXHOP IS BORN Provide internaOonal consumers with a US shipping address to buy directly from US retailers BUSINESS IMPLICATION • • • 5 Need to lower our cost basis Need a new B2C revenue model Need a new plaKorm to support new business & expand TAM Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 6. The 9 Keys To Subscrip,on Success How They Shaped BoxHop $ PRICE NURTURE 6 ACQUIRE ACCOUNT BILL MEASURE COLLECT ITERATE Zuora confidential, shared under non-disclosure and subject to disclaimer notice SCALE
- 7. $ Pricing & Packaging New Services & Revenue Streams REVENUE & RISK DIVERSIFICATION • • 7 Borderfree Profit Streams: • Merchant Service Fees • Consumer FX Fees BoxHop Profit Streams: • Subscrip/on Fees • Shipping Fees • Usage based Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 8. Customer Acquisi,on Partnerships & Promos Partnerships drive value for all: • Merchant: sales & loyalty • Consumer: valuable discount • BoxHop: ‘FREE’ subscribers! • Borderfree: Consumer Profiles 8 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 9. Recurring Billing Storing & Accessing Consumer Profiles • • • • • • 9 100% TransacOonal No SubscripOon Fees No Consumer or Payment Profiles SubscripOon & TransacOonal Upgrades, add-‐ons, renewals All Users have Payment Profiles Future = Hybrid • Borderfree Consumer Profiles • BoxHop as a Shipping OpOon Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 10. Consumer Collec,ons The ‘Cash’ in Cash Flow Preven/ng Failed Payments • • • Account creaOon requires a valid CC Email 30 days before card expires Payments updated in customer portal Managing Failed Payments • • • • 10 AutomaOc retry logic configured Email(s) triggered to consumers Parcels held pending payment Late penalty fees assessed Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 11. Rela,onship Management Visibility & Self-‐Service • • • 11 Zuora + Salesforce = full customer account visibility and easy administraOon for customer care Customer portal allows easy profile, payment & subscripOon updates • Payment details hosted by Zuora • FAQs & web-‐to-‐case support powered by Force.com OperaOonal issues trigger case creaOon & email communicaOons Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 12. Finance & Accoun,ng Keeping the Bean – Counters Calm BUSINESS GOAL: SaOsfy Finance without hindering innovaOon, ceding control or delaying launch PROJECT REQUIREMENTS: • Manage Revenue RecogniOon • Refunds Administered in Salesforce • Easy CyberSource IntegraOon • Connects to our Intacct GL • Financial Controls SaOsfy Auditors • PCI Level 1 Compliance • MulO-‐Currency Pricing (P2) • Supports MulOple Gateways (P2) 12 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 13. Measure & Analyze Consumers, OperaOons, Trends… • • • • • 13 Subscribers GROWTH USAGE SPEND CHURN RENEWAL • • • • • Opera/ons BILLINGS COLLECTIONS PRODUCTIVITY ERROR RATES OPEN CASES Basket A[ributes • MERCHANTS • PRODUCTS • BRANDS • DIMENSIONS • WEIGHT Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 14. Systems & Scale SoluOon Approach – Key Drivers • • Outsource Ini/al Build – partnered with Slalom ConsulOng to architect & build the MMP • Enterprise-‐level Compliance – PCI, accounOng/audit, customer screening, import/export restricOons • Nimble but Scalable & Configurable Pla^orm • 14 Speed to Market – launch and stabilize before holiday season Low Organiza/onal Burden – ability to migrate and manage the plaKorm in-‐house with limited dedicated labor post-‐ launch Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 15. Systems & Scale (cont’d) Primary SoluOon Components • • Hosted checkout; subscripOon billing & collecOons; A/ R sub ledger • Development plaKorm supporOng the Customer portal • 15 Core plaKorm and data repository for customer and parcel management, order workflow & customer care Duty and tax calculaOon; import/export restricOons management; shipping carrier rates and rules Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 16. Systems & Scale (cont’d) Business Process Flow Customer Registers & Orders Goods Order Processed & Shipped Business Flows Parcels Received & Stored Customer Configures Order 16 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 17. Future Enhancements What Comes Next CUSTOMER EXPERIENCE • • • • • 17 Loyalty program Translated interfaces Mobile checkout & tracking DDP shipping opOon InternaOonal returns support MARKETING & GROWTH • • • • Consolidated merchant reporOng IntegraOon into the Borderfree checkout AddiOonal payment gateways FX support Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 18. Q&A Thank You! 18 Zuora confidential, shared under non-disclosure and subject to disclaimer notice