Empowering innovative businesses to launch competitive pricing models in the era of digital commerce, Oracle today announced Oracle Monetization Cloud. The new cloud service accelerates time to market for digital and subscription-based products and services by enabling the full life cycle of customer on-boarding, offer creation, robust rating and discounting, billing, customized invoicing and reporting.
Enterprises are increasingly focused on generating recurring revenues and developing lasting customer relationships by extending from one-time purchases to recurring business models. Agile billing capabilities are required to help digital service providers monetize new offerings and differentiate their services in competitive markets. Oracle Monetization Cloud combines the power of scalable monetization capabilities with the simplicity, agility, and security of Oracle Cloud to accelerate time to market for digital services.
“Subscriptions, demand-based price models, pay-per-use, and increasingly complex agreements with a litany of unique entitlements are now the norm,” said Andrew Dailey, Managing Director of MGI Research.
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 these digital service providers 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 today’s competitive business environment, customers are demanding the power to purchase the products and services that they want, when they want them, at a price point that they can afford,” said Doug Suriano, senior vice president and general manager for Oracle Communications. “Oracle Monetization Cloud enables digital service providers to quickly launch innovative offerings and deliver a positive customer experience while reducing revenue leakage and improving financial reporting and compliance.”