Enterprise businesses around the world are striving to enhance customer experience. An exceptional customer experience can be the difference between a top notch product or service and a mediocre one. One of the defining trends irrespective of industry or customer type for business growth is the adoption of subscription based services.
Most businesses are moving towards subscription commerce and key to running a complex consumption based subscription system is the use of cloud based monetization services. Current systems are crumbling under the pressure of managing a complex monetization solution. This is where the utility of cloud comes into picture. As more and more businesses seek to simplify operations a cloud based monetization system offers agility and quicker marketing of the services. Aarav Solutions is well equipped to handle this need and holds technical expertise in Oracle Monetization Cloud Solutions.
What is Oracle Monetization Cloud?
Oracle Monetization Cloud is a cloud based, charging, billing, payments and revenue management platform. This has been especially designed to help enterprise businesses better handle subscription based products and services. With the help of the Oracle Monetization Cloud solutions a business may –
1. Create new product and service offerings as per customer needs
2. Create new customer accounts by selling the product offerings
3. Bill customers for subscription fees and usage
4. Collect payments
5. Reports about financial activity
Can the Oracle Monetization Cloud boost revenues and profitability?
Oracle Monetization Cloud helps enterprises develop an effective revenue management and billing system which reflects positively on annual revenue figures and overall profitability of the business. Here’s how –
1. Oracle Monetization Cloud allows you to offer bundled products or services, cross product discounts, free trails and other pricing incentives. Bundling products or services together simplifies a customer’s buying experience as they no longer need to select the relevant products or services they need one by one. It also means, that customers are able to buy all that they need under one single billing. Secondly, bundling products or services together gives a business the opportunity to cross-sell. Thus, improving the whole customer experience of initiating the purchase and paying for the same.
2. Oracle Monetization Cloud is not just a platform for better billing and revenue management. It is an overall financial management solution for a business. It provides a business with flexible monetization capability – in other words, increased liquidity by better management of funds.
3. Higher management in every business prefers to work with a single vendor who offers an end to end solution for ease of transacting. The Oracle Monetization Cloud Solution covers all major needs of a business including customer relationship management (CRM), monetization and ERP. Experts at Aarav Solutions speak from experience, when they say that working with a single technology partner reduces costs and delays in service.
All businesses irrespective of industry benefit from technological solutions that provide predictable operational expenses, can easily be integrated with other enterprise systems and allow them to push their new products or services into the market quickly. The Oracle Monetization Cloud Solution is just that and more:
1. A scalable, secure and innovative cloud monetization solution that may also be deployed on Oracle’s state of the art cloud infrastructure.
2. Oracle Monetization Cloud helps your business develop recurring revenue streams that result in profitable customer relationships.
3. Oracle Monetization Cloud Solution creates innovative subscription options for customers on the basis of ratings and usage data across any combination of measurable metrics.
4. The Oracle Monetization Cloud Solution comes with intuitive self service capabilities which can be used to modify existing subscription options and launch new ones as needed.
To make a business future ready it is imperative that the billing and revenue management is flexible, scalable and reliable. The businesses that are able to effectively monetize and bill for their services will thrive by meeting the quickly evolving needs of this dynamic market. By learning from the past and understanding the dynamics of the future, the Oracle Monetization Cloud Solutions help businesses improve client satisfaction and create a sustainable financial system.
Aarav Solutions is a leading name in IT Infrastructure and Telecom Consultancy Services. We provide a plethora of Consultancy services to Telecom businesses across the country and the globe. Our vision is to transform Indian businesses with the help of innovative technological solutions and our expertise. We aim to provide each of our clients with out-of-the box solutions which are customized for their needs and helps their business surge ahead in today’s dynamic business environment. Aarav Solutions helps businesses gain a competitive edge with the best Consultancy Services.