Oracle Subscription Management

2018: Announcement of the business application

On November 2, 2018 the Oracle corporation announced the business application of Oracle Subscription Management which will help the organizations to adapt from the different industries to quickly changing behavior of buyers thanks to implementation of business models on the basis of a subscription. Thanks to integration the front - and back office business processes on a single platform, the solution Oracle Subscription Management provides the end-to-end management of subscriptions including drawing of accounts, recognition of income and also provides the personnel working with clients, complete idea of behavior of buyers that will allow business to create models of the predicted and consecutive profit, consider in Oracle.

"Technologies are already integrated into all directions of life of society, they changed not only our expectations, but also re-structured our brain and our values. Modern consumers appreciate freedom, a possibility of the choice, convenience and flexibility, but not constancy, stability and determinancy. This shift in a set of values radically changes behavior of buyers in all industries. To help our customers to be guided successfully in these changes, we propose the complete solution for management of subscriptions". Rondi Ng, senior vice president for development of business applications of Oracle

The flexibility, possibility of the choice and efficiency became the minimum requirements both for business customers, and for buyers. As a result, the concept "ownerships" is called into question. It forces the organizations to rethink from the different industries the settled business models taking into account the changing behavior of buyers and consumption patterns. To help business to accept these changes and to meet the changing requirements of buyers, Oracle Subscription Management supports the end-to-end management of a subscription covering sales, service, performance of agreements, drawing of accounts, revenue recognition, management of customer satisfaction and prolongation of a subscription, noted in Oracle.

According to the statement of the developer, Oracle Subscription Management opens to the organizations an opportunity to use hybrid business models of products and services/subscriptions within a single platform. It allows the organizations to work in all industries with the changing consumption patterns for receiving an additional income from goods and services. The solution for management of subscriptions allows the organizations:

• Manage a subscription in each point of customer interaction: support of omnichannel provides specialists in resuming of a subscription, service experts, consultants for sales and clients with uniform and logical experience of management of a subscription.
• Raise income from a subscription thanks to deep customer analysis: Multifunction tools for analytics and the reporting provide complete idea of client software programs by means of uniform representation of key performance indicators and the comprehensive analysis for optimization of a funnel of conversion. The continuous analytics helps to stimulate transactions, giving to agents an opportunity to initiate, update, stop and expand cooperation with clients.
• Manage complete lifecycle of the client: unification of business processes the front - and a back office — from outgoing communications before resuming of a subscription and service charges - provides deep understanding of habits of buyers, actions according to potential and new transactions. Clients can perform plenary confession of revenue in the main ERP systems, calculate difficult and cyclic pricing models and simplify processing of the mixed orders including periodic services and physical products.