Oracle Billing and Revenue Management Cloud Service Announced
New Cloud Service Helps Enterprises Deliver and Monetize Innovative New Product Offerings and Capture Recurring Revenue Streams
ORACLE OPENWORLD, SAN FRANCISCO – September 24, 2013
Oracle unveiled Oracle Billing and Revenue Management Cloud Service to provide enterprises with a robust and highly scalable billing solution to capture recurring revenues from new digital services. This advanced cloud billing service is suited for multiple industries including financial services, media, and communications; and offers sophisticated subscription management and rating using any combination of measurable metrics including usage, time of day, length of use, delivery method, device, medium, volume, etc.
Building on the hundreds of customer deployments of its billing application across multiple industries, Oracle today unveiled Oracle Billing and Revenue Management Cloud Service to support the evolving digital goods and services market. The Cloud service enables enterprises – from financial services and high tech organizations to media and entertainment providers – that are offering digital services to rapidly deploy a comprehensive revenue management system with predictable monthly operational costs and minimal capital expenses.
As businesses transition from physical to digital goods to meet changing customer expectations, reduce cost of goods sold, and simplify product delivery, they need sophisticated billing capabilities to manage and monetize increasingly complex service and subscription bundles.
Oracle Billing and Revenue Management Cloud Service runs on the Oracle Cloud, which provides the premier product, support and services enterprises need to transition to the cloud, while delivering the demanding security, compliance and operational requirements of the digital goods companies.
Oracle owns, manages and certifies the underlying technology for Oracle Cloud, providing customers with the extreme performance, scalability, availability and security needed to run a mission-critical billing solution.
Cloud Service Details
Oracle Billing and Revenue Management Cloud Service:
Facilitates rapid creation and validation of new products, bundles and offers, helping to make it fast, simple and low-cost to define new products and make post-launch adjustments
Offers robust functionality to support globalization of digital commerce across new and existing lines of business
Provides rich and comprehensive support for billing and invoicing functions, including trial offers, rebilling, bill corrections and flexible bill cycles, across multiple metrics, such as volume, time, transactions, events and downloads
Streamlines tax computation – with simple internal tax support or easy integration with third-party tools – and financial reporting in accordance with generally accepted accounting principles (GAAP)
Supports quick, low-risk adoption of new digital commerce initiatives by outsourcing billing and financial management functions to an expert vendor with an effective operating model and robust functionality
Virtually eliminates in-house maintenance and upgrade costs with predictable, automatic upgrades that maintain customizations
Ø “We are excited to leverage our experience in high-volume and complex billing to offer our customers the flexibility of a cloud billing service with the reliability and security of an Oracle technology environment. With this solution, customers across a wide range of transaction-heavy industries can quickly and easily innovate and monetize new and sophisticated product offerings and service bundles to help maintain a competitive edge, while also streamlining financial management,” said Bhaskar Gorti, senior vice president and general manager, Oracle Communications.
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About Oracle Cloud Solutions
Oracle provides the industry’s broadest and most complete portfolio of public, private and hybrid cloud offerings. Oracle Cloud delivers a broad suite of subscription-based, enterprise-grade Application, Social, Platform, and Infrastructure Services. Oracle also provides a comprehensive portfolio of cloud products and managed cloud services for IT providers to build and manage clouds.
Oracle engineers hardware and software to work together in the cloud and in your data center. For more information about Oracle (NYSE:ORCL), visit www.oracle.com.
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