According to Oracle, across industries and in scenarios ranging from cloud hosting to digital media to the Internet of Things, enterprises and digital service providers are looking to quickly launch new business models to compete in the digital economy. Whether they are monetizing connected cars, using sensors to aggregate and monetize data, or transitioning to offering their software as a service, they are undergoing a digital transformation that requires flexible new pricing, billing, revenue management, and real-time subscriber management capabilities in order to monetize new offerings and differentiate their services in competitive markets.
As a result, Oracle says, these providers are also increasingly focused on generating recurring revenues and developing enduring customer relationships by extending one-time purchases to recurring business models.
With Oracle Monetization Cloud, users benefit from supports the full lifecycle of subscription services, from onboarding subscribers, to launching and modifying innovative offerings, to leveraging flexible rating, discounting and billing capabilities, to customizing invoices, to analyzing business performance through robust reporting. These functions are available through web-based user interfaces so customers can quickly deploy and modify their offerings to meet market demand.
In addition, newly developed out-of-the-box connectors and standard web-based SOAP and REST APIs enable customers to integrate easily with front-office and back-office systems, including Oracle, Chase Paymentech and other third party CRM, e-commerce, ERP systems and payment and tax gateways. These simplified integration options speed deployment of the cloud service and thereby accelerate time to market, providing customers with the convenience of continuing to use their existing solutions.
The service supports compliance and certification with Payment Card Industry (PCI) and Generally Accepted Accounting Principles (GAAP) as well as supports compliant re-invoicing and recognition of seven types of revenue to allow customers to reduce risk, combat revenue leakage and ensure audit compliance.
The monetization solution is part of a full platform that spans the customer journey from engaging on social channels to tracking a sales lead to creating and offering innovative services to on-boarding subscribers to rating and billing to revenue recognition and compliance.
For more information, go to www.oracle.com/applications/erp/monetization-cloud.html.