Businesses are increasingly turning to cloud computing as a means to build strategic competitive advantage and drive profitability. Cloud services enable businesses to be more agile and efficient, cut time to market and respond speedily to changing market trends.
More importantly, businesses gain the flexibility to adapt and scale for growth. Central to their success will be the ability to make timely decisions and provide a superior customer experience.
To accomplish all of these, stakeholders and parts of the business have to work closely together. This is where cloud technologies enhance communication and collaboration (C&C) among staff, customers, suppliers and partners across geographies and time zones. The melding of knowledge and capabilities and the sharing of vital information among stakeholders of the business can sharpen its competitive edge.
Given the ease of adopting cloud-based voice and video conferencing, organizations can simply harness C&C technologies in all spheres of daily business. For example, business processes and workflows can be improved to support users from multiple business functions or lines of business. This is evident across multiple industries.
Physical to digital
In the education sector, online learning initiatives provide students with access to teachers, course materials, assignments, and class schedules, among others. Such initiatives can be enhanced by platforms that have built-in collaboration and scheduling capabilities.
Cloud-based C&C has also prompted a paradigm shift in corporate learning. Human resource, business leaders and subject matter experts can now create, assemble, and publish high-quality content, and encourage social recommendations, online discussions and discovery, while curating content from both internal and external sources, including YouTube and Massive Open Online Courses.
In the healthcare sector, secure cloud platforms help facilitate patient-provider and provider-provider secure communication to greatly enhance collaboration in a cost-effective manner. Life sciences organizations harness cloud technologies to support the design and delivery of personalized communications across multiple channels to engage customers and patients.
In connected homes, scalable IP platforms facilitate connectivity and communication between physical locations and end users. For example, home security systems leverage communication platform middleware that is scalable, secure, reliable and cloud-ready as the core of their solution which leads to better customer satisfaction and lower cost of ownership.
These examples reflect organizations’ transition beyond physical goods to digital goods and subscription-based services including the integration of communications which enable the new digital services to thrive. Indeed, in the era of subscription commerce, the ‘anything-as-a-service’ business model appeals to organizations that wish to create recurring revenue streams and ongoing relationships with their customers. New revenue models have created new billing requirements including real-time usage processing, non-currency discounting, generally accepted accounting principles (GAAP) compliance and any metric billing where charging by time, volume, click, views, or CPUs can be required by the digital service. Additionally, organizations have to meet changing customer expectations, reduce cost of goods sold, and simplify product delivery.
To that end, cloud billing becomes a strategic advantage by accelerating time to market, enabling growth by supporting multiple business entities, and lowering cost and risk.
The Oracle Billing and Revenue Management Cloud Service supports this evolving digital goods and services market. The cloud service, which runs on the secure Oracle Cloud platform, enables enterprises to rapidly deploy a comprehensive revenue management system with predictable monthly operational costs and minimal capital expenses.
The robust and highly scalable cloud billing service helps to capture recurring revenues from new digital services and offers subscription management and rating using a combination of metrics, including usage, time of day, length of use, delivery method, device, medium and volume.
This enables organizations in multiple industries, including financial services, media, and communications, to collect revenues, compute taxation and provide financial reporting while fulfilling the security, compliance and operational requirements of digital goods companies.
Built on the hundreds of customer deployments of Oracle’s billing application, the Oracle Billing and Revenue Management Cloud Service provides pricing management, account management, debt management, rating, discounting, usage processing, billing and invoicing, and financial management. The subscription-based service can be used in accordance with GAAP.
“With these solutions, organizations across a wide range of transaction-heavy industries can quickly and easily innovate and monetize new and sophisticated product offerings and service bundles to help maintain a competitive edge, while also streamlining financial management,” says Brian Kracik, director of Product Marketing for Oracle Communications.
This is a QuestexAsia feature commissioned by Oracle Communications.