Oracle OpenWorld, San Francisco, Calif.—October 22, 2018
To enable businesses in any industry to adapt to changing buyer behavior and embrace subscription business models, Oracle today announced Oracle Subscription Management. By integrating front and back office business processes on one platform, Oracle Subscription Management allows organizations to build predictable, recurring revenue models by providing an end-to-end subscription solution that manages billing and revenue recognition and also informs customer-facing personnel with a complete view of purchasing behavior.
Oracle Subscription Management arms organizations with a better way to build subscription business models.
“With technology now woven into every facet of society, it has not just changed our expectations, but re-wired our brains and altered our values,” said Rondy Ng, SVP Application Development, Oracle. “Today’s consumers value freedom, choice, convenience and flexibility over permanence, stability and certainty. This shifting value set is fundamentally changing buying behavior across industries. To help our customers successfully navigate these changes, we are introducing an end-to-end subscription management solution that builds on our strength in ERP and customer experience management. This uniquely positions Oracle to support hybrid product and subscription business models on the same platform.”
Flexibility, choice and immediacy are now table stakes for both business and consumer buyers. As a result, the very notion of ownership is being questioned. This is forcing organizations across industries to rethink established business models to accommodate changing buyer behavior and new consumption models. To help organizations embrace these changes and meet shifting buyer demands, Oracle Subscription Management supports end-to-end subscription experiences that span sales, service, fulfillment, invoicing, revenue recognition, customer success, satisfaction and renewals.
With the addition of Oracle Subscription Management, Oracle enables organizations to operate hybrid product and service/subscription business models on the same platform. This allows organizations in all industries to embrace new consumption models to generate additional revenue from goods and services. The innovative new subscription management solution enables organizations to:
Support Subscriptions Across All Customer Touchpoints: Omnichannel support provides renewal specialists, service agents, sales reps and customers with a consistent subscription experience.
Increase Subscription Revenues Through Powerful Customer Insights: Rich analytics and reporting tools provide a full view of customer programs through a single view of key KPIs and powerful analytics to optimize funnel conversion. In addition, continuous insights help drive new deal activity by empowering agents to initiate, upgrade, terminate and co-term customers.
Orchestrate the Full Customer Lifecycle: Unified front and back office processes—from outbound communication to renewals and charges—provide powerful insights into new deal activity, opportunities and buying habits. In addition, customers can support full revenue recognition within core ERP systems, calculate complex and recurring pricing models, and simplify the management of mixed order with recurring services and physical products.
With the industry’s broadest, deepest and fastest growing suite of applications, which includes the world’s #1 ERP cloud platform and a complete suite of customer experience applications, Oracle is uniquely positioned to help organizations embrace subscription business models by supporting end-to-end business processes from order to cash.
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.
Oracle OpenWorld, the industry’s most important business and technology conference for the past 20 years, hosts tens of thousands of in-person attendees as well as millions online. Dedicated to helping businesses leverage Cloud for their innovation and growth, the conference delivers deep insight into industry trends and breakthroughs driven by technology. With hundreds of demos and hands-on labs, plus exhibitions from more than 250 partners and customers from around the world, Oracle OpenWorld has become a showcase for leading cloud technologies, from Cloud Applications to Cloud Platform and Infrastructure. For more information; to register; or to watch Oracle OpenWorld keynotes, sessions, and more, visit www.oracle.com/openworld. Join the Oracle OpenWorld discussion on Twitter.
The preceding is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, timing, and pricing of any features or functionality described for Oracle’s products may change and remains at the sole discretion of Oracle Corporation.
Statements in this article relating to Oracle’s future plans, expectations, beliefs, and intentions are “forward-looking statements” and are subject to material risks and uncertainties. Such statements are based on Oracle’s current expectations and assumptions, some of which are beyond Oracle’s control. All information in this article is current as of October 22, 2018 and Oracle undertakes no duty to update any statement in light of new information or future events.
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.