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We are now the unquestioned leader in cloud ERP, as the principal analyst firms all have us leading in both innovation and market share. To some, ERP may be the most complex software on earth, but it is the operational backbone for every mid-sized and large company, and it is the engine that will allow us to overtake the leaders in the market for front-office applications.
This back-office beachhead, combined with our unparalleled expertise in solving problems unique to every industry of consequence, will let us quickly assert our strength in the sales, marketing, and customer service functions that drive revenue growth and customer retention.
We have unified all of the assets from a decade or more of acquisitions of leading cloud sales and service software companies on our Fusion platform—the same platform that runs our ERP cloud. This means that our customers can now benefit from a unified view of their customers, a unified user interface across all these formerly heterogeneous applications, and a unified customer data model allowing for a single source of truth.
While every industry is unique, there is a common challenge facing all organizations: the need to unify data from across business functions to address rapidly changing customer expectations.
This need is not new, but the older solutions that provided heterogeneous, fragmented, point-to-point integrations are no longer sufficient. No more kicking the can down the road. There is a “future of CX” that involves rethinking how to unify data structures, application flows, and common experiences across all your front and back-office processes.
I believe that once you move your back-office data and operations to the cloud, you are ready to light up your front-office.
This leads to very, very concrete applications for problems that our customers need to solve—in real time. For example, our customers will have the ability to use supply chain and inventory data from their cloud ERP suite to optimize the performance of technicians in the field through our Field Service Cloud.
Likewise, our customers can provide their sales reps all the information culled from billing and subscription management data in their ERP system to optimize their offerings to existing customers—including generating custom proposals and automating a lot of the functions that have previously been error-prone CRM processes from the last generation of cloud solutions.
Anyone can integrate applications. But this is more than integration; it’s unification. A unified cloud infrastructure, a unified set of platform services, a unified customer data model, a unified user experience platform leveraging unified data sets for machine learning—this is what a single platform means—from the cloud infrastructure layer through to unique workflows that we help manage industry-to-industry.
Before I launch into the full ramifications of this unification, I want to make sure that our market leadership position in cloud ERP is clear and substantiated.
Using the staid language required by the analyst firm, Oracle was this summer named the sole Leader in Gartner’s 2020 “Magic Quadrant for Cloud ERP for Product-Centric Enterprises” report for the second consecutive time.
Let that sink in for a moment—the sole leader!
What makes this unified suite unique is not just that, well, it’s unique in the market to this point, but that it cannot be equaled by our competitors because our suite isn’t one-size-fits-all. Every industry has its unique set of challenges, and we are helping solve those challenges thanks to our decades-long experience working within those industries, and writing code that helps solve those problems.
We know that business processes and workflows are unique by industry.
We have made over 30 acquisitions of segment leaders across nine industry verticals, have thousands of employees with deep domain expertise, and make millions worth of investments in industry applications every year.
For example, the Communications industry has undergone a tremendous amount of change, moving from a model which relied on retailers to enable subscriptions to the more self-service model that dominates today.
That’s why we developed our first fully unified industry stack for the Communications industry—CX for Communications.
This new offering equips service providers with a deep knowledge of customer buying behaviors and product preferences so they can quickly launch personalized new experiences and service offers to engage customers, while reducing churn and costs. Providers can now create and launch offers, acquire customers, sell across channels, fulfill and monetize services, and deliver proactive care that consumers are demanding.
In the same way that our unification of horizontal back-office and front-office applications on a single Fusion platform is keying success for our customers, unification within industry verticals will propel our key industry customers to greater success, and enable us to take the leadership position in the CX market.
Oracle’s position for the front-office has never been stronger.