To enable businesses in any industry to adapt to changing buyer behavior and embrace subscription business models, Oracle has 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.