Redwood Shores, Calif.—Sep 20, 2017
A new Oracle Communications survey announced today “Monetization as a Competitive Advantage: New Services, New Opportunities,” highlighted the need for enterprises to move quickly to monetize new services to enhance customers interactions. The study found that enhancing customer experience is the most critical business objective for enterprises today and 75 percent of respondents see launching subscription-based services as a top priority as they look to digitally transform their customer engagement strategy.
To learn more about the study download the Infographic.
“Delivering an unmatched customer experience is now the source of competitive differentiation in all industries,” said Doug Suriano, senior vice president, general manager, Oracle Communications. “Today’s subscription monetization goes well beyond simple billing and receivables, and has only scratched the surface of what’s to come in the way of new digital services. Companies who create an agile, flexible program that can meet the needs of their customers today and well into the future will win.”
Companies are looking to deepen customer relationships by shifting the delivery of goods and services that require just a single touchpoint, to ones that foster recurring interactions. Whether companies are looking to monetize connected cars, using sensors to aggregate and monetize data, or transitioning their products to a Software as a Service (SaaS) delivery model, they are undergoing a digital transformation that requires flexible new pricing, billing, revenue management, and real-time subscriber management capabilities. However, only 26 percent of respondents have currently implemented a monetization solution. To compete for customer loyalty, companies need to move fast. Those companies that are already launching subscription-based services are reaping the benefits and a competitive advantage – with revenue growth reaching one to nine percent higher than plan.
The survey also found that:
Part of the Oracle Communications portfolio, Oracle Monetization Cloud empowers innovative businesses to launch competitive pricing models in the era of digital commerce. 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.
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 www.oracle.com.
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