Press Release

Oracle Helps High Tech and Manufacturing Businesses Automate Prevention of Asset Downtime

Asset-Based Service for High Tech and Manufacturing helps businesses predict and prevent asset downtime to reduce costs, optimize service efficiency, and enhance the overall customer experience

Oracle CloudWorld, Las VegasOctober 19, 2022

To help businesses enhance service efficiency and the overall customer experience, Oracle is introducing a new asset-based service solution for Oracle Fusion Cloud Applications Suite. Part of Oracle Fusion Service and pre-integrated with Oracle Fusion Cloud Supply Chain & Manufacturing (SCM), Asset-Based Service for High Tech and Manufacturing helps businesses improve customer satisfaction, reduce costs, and grow revenues by optimizing the service lifecycle management of an asset.

Disconnected processes and systems make it difficult for customer service teams to operate efficiently and effectively. In fact, according to a recent report, the average customer service organization completes only 75 percent of service activities on the first try. These obstacles need to be addressed as organizations look to grow revenues through “As-a-Service” business models. For these business models to be successful, it is critical to connect service agents, field technicians, and assets with automated and intelligent workflows to help prevent—or urgently fix—issues, reduce costs, maximize asset uptime, and enhance the customer experience.

“Connected devices and machinery are paving the way for new revenue models, which create a massive opportunity for businesses to transform customer service from a cost center to a growth engine,” said Jeff Wartgow, vice president product management, Oracle Service and Field Service. “With Oracle Asset-Based Service, manufacturers and high-tech businesses can better manage the service lifecycle of an asset to minimize unplanned downtime.”

Asset-Based Service for High Tech and Manufacturing provides:

  • Proactive Monitoring and Maintenance: Service departments now have visibility into equipment health via remote monitoring of IoT connected assets and can be set up to automatically send alerts and schedule activities to maintain assets and prevent problems before they happen.
  • Automated Field Service: Remote monitoring can now activate self-healing routines, send communications to customers, and automatically schedule urgent on-site service. If a service technician is on-site fixing a problem, the application can automatically address contractual compliance, such as billing adjustments.
  • Depot Repair Automation: Service departments can now automatically generate repair estimates and authorizations, create work orders, and order parts from their workspace. Activities are linked to service orders, charges, shipments, and invoices to help maintain accurate billing.

Oracle Fusion Cloud Applications Suite provides everything a business needs to optimize processes, make faster and better decisions, and outpace change. With applications for finance, supply chain, HR, and customer experience, Oracle provides the most complete suite of enterprise applications on a single integrated cloud platform. Oracle’s self-updating platform gives customers access to continuous innovation, as new features are added every 90 days, without downtime or business disruption.

Learn more about Oracle Asset-Based Service for High Tech and Manufacturing here.

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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. Many factors could affect Oracle’s current expectations and actual results, and could cause actual results to differ materially. A discussion of such factors and other risks that affect Oracle’s business is contained in Oracle’s Securities and Exchange Commission (SEC) filings, including Oracle’s most recent reports on Form 10-K and Form 10-Q under the heading “Risk Factors.” These filings are available on the SEC’s website or on Oracle’s website at http://www.oracle.com/emea/investor. All information in this article is current as of October 19, 2022 and Oracle undertakes no duty to update any statement in light of new information or future events.

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