An Introduction to Oracle Subscription Management Cloud

Subscription-based pricing models have disrupted many industries over the last decade. From entertainment (Disney+), fitness (Peloton), fashion (Stitchfix), nutrition (Blue Apron) to mental health (Calm), there's a subscription plan for virtually every offering. UBS Wealth Management and Bernstein estimate that the subscription economy will be worth $1.5 trillion by 2025.

The reason behind this shift is simple. For customers, it offers convenience and hyper-personalisation. For businesses, the model helps attract customers, decrease acquisition costs, build relationships and the ability to analyse trends.

We are indeed living in a subscription economy and this model is showing no signs of slowing down. However, the key challenge that many organisations face when scaling for a subscription service model is the lack of infrastructure and systems needed to effectively manage various pieces of customer data such as contracts, upgrades, location, usage, billing, and revenue. Their back-office systems are disconnected, and they don’t have a rich view of customer behaviour. This is where Oracle’s cloud-based Subscription Management helps businesses by taking the complexity out of this transition.

What is Oracle Subscription Management? #

Oracle Subscription Management Cloud is a 360-degree solution that increases customer satisfaction and lifetime value by streamlining subscription lifecycle management. It helps monetise product subscriptions, warranties, extended warranties, and complex service agreements in a single solution.

The technology supports dynamic purchasing, ownership, and maintenance models. These require an entirely new level of real-time oversight to connect, track, and manage every possible variable for efficient and accurate fulfilment and revenue recognition.

Oracle Subscription Management provides businesses with everything they need to break through the typical subscription complexities of usage tiers, contract changes, add-ons, syncing billing, accounting, data handling, overage fees and so much more.

Oracle offers an Open API-first platform that easily connects various applications throughout your ecosystem. It's the central solution to support thousands of customer touchpoints pricing, delivery and billing models across the front and back-end processes, which help your business stay competitive.

Key Features:

• Subscription and service contract management
• Consumption, usage rating and billing
• Partial period billing and revenue recognition
• Comprehensive renewal capabilities
• Timely entitlement verification
• Intuitive Customer self-service

Whether or not you already have CRM or Finance software solutions from Oracle, the open API-driven nature of the Subscription Management solution means it can work within your ecosystem, helping connect all those disparate data and customer touchpoints.

Learn more about Oracle Subscription Management #

Get in touch with us to discover more about Oracle Subscription Management’s capabilities and how it can help plug you into the subscription economy.

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