New service complements Oracle ERP Cloud and Oracle Customer Experience Cloud Suite to provide monetization across the customer journey
Empowering innovative businesses to launch competitive pricing models in the era of digital commerce, Oracle today announced Oracle Monetization Cloud. The new cloud service accelerates time to market for digital and subscription-based products and services by enabling the full life cycle of customer on-boarding, offer creation, robust rating and discounting, billing, customized invoicing and reporting.
Enterprises are increasingly focused on generating recurring revenues and developing lasting customer relationships by extending from one-time purchases to recurring business models. Agile billing capabilities are required to help digital service providers monetize new offerings and differentiate their services in competitive markets. Oracle Monetization Cloud combines the power of scalable monetization capabilities with the simplicity, agility, and security of Oracle Cloud to accelerate time to market for digital services.
“Subscriptions, demand-based price models, pay-per-use, and increasingly complex agreements with a litany of unique entitlements are now the norm,” said Andrew Dailey, Managing Director of MGI Research.
Across industries and in scenarios ranging from cloud hosting to digital media to the Internet of Things, enterprises and digital service providers are looking to quickly launch new business models to compete in the digital economy. Whether these digital service providers are monetizing connected cars, using sensors to aggregate and monetize data, or transitioning to offering their software as a service, they are undergoing a digital transformation that requires flexible new pricing, billing, revenue management, and real-time subscriber management capabilities.
“In today’s competitive business environment, customers are demanding the power to purchase the products and services that they want, when they want them, at a price point that they can afford,” said Doug Suriano, senior vice president and general manager for Oracle Communications. “Oracle Monetization Cloud enables digital service providers to quickly launch innovative offerings and deliver a positive customer experience while reducing revenue leakage and improving financial reporting and compliance.”
With Oracle Monetization Cloud users benefit from:
- Full life-cycle capabilities: The service supports the full life-cycle of subscription services, from on-boarding subscribers, to rapidly launching and modifying innovative offerings, to leveraging flexible rating, discounting and billing capabilities, to customizing invoices, to analyzing business performance through robust reporting. These functions are available through intuitive web-based user interfaces so customers can quickly deploy and modify their offerings to meet market demand.
- Easy integration: Newly developed out-of-the-box connectors and standard web-based SOAP and REST APIs enable customers to integrate easily with front-office and back-office systems, including Oracle, Chase Paymentech and other third party CRM, e-commerce, ERP systems and payment and tax gateways. These simplified integration options speed deployment of the cloud service and thereby accelerate time to market, providing customers with the convenience of continuing to use their existing solutions.
- Risk and cost reduction: Full compliance and certification with Payment Card Industry (PCI) and Generally Accepted Accounting Principles (GAAP) as well as support for fully compliant re-invoicing and recognition of seven types of revenue allow customers to reduce risk, combat revenue leakage and ensure audit compliance.
- Full suite of monetization capabilities: The monetization solution is part of a full platform that spans the customer journey from engaging on social channels to tracking a sales lead to creating and offering innovative services to on-boarding subscribers to rating and billing to revenue recognition and compliance. Oracle is unique in offering an end-to-end suite of best-in-breed cloud services that work together in monetizing the entire journey.
The Oracle Cloud offers complete SaaS application suites for ERP, HCM and CX, plus best-in-class database Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) from data centers throughout the Americas, Europe and Asia. For more information about Oracle (NYSE:ORCL), please visit us at oracle.com.