Another successful Oracle OpenWorld has come and gone. Over 60,000 customers and partners from 175 countries descended on San Francisco for most of last week. They came, they saw, they learned.
In fact, there was more to see and learn than any one person could possibly handle—the keynotes, the sessions, the demos, the exhibition hall. Choices had to be made. If you were like me during several possible time slots, you had to choose which one of multiple sessions you wanted/needed/should attend. It was indeed a juggling act.
So if you were not able to see (or hear) everything you wanted, here is a rundown of the top six announcements in regards to Oracle Cloud applications and their benefits to high-growth small-to-medium businesses (SMBs):
To keep up with the pace of change, companies have to start looking at “tomorrow’s” technologies (those that are built on machine learning, chatbots, intelligent process automation, etc.) to immediately start automating as many back-office functions as possible. In the finance function, for example, too much time is spent on non-value-add work: transaction processing, reconciling numbers, chasing and waiting for information. If this sounds familiar, your finance team is not able to provide the level of insight, speed, or automation required to keep up with today’s pace of change. Growing companies need an enterprise resource planning (ERP) cloud with features like expense reporting assistants, supplier recommendation engines, intelligent payments, and data pattern recognition. And because it’s built in the cloud, future-ready ERP is updated every 90 days with the latest functionality. It is literally the last upgrade you will ever need.
Many fast-growing SMBs are dealing with a “cloud hairball.” They have implemented several point solutions from multiple cloud providers that aren’t fully integrated with each other. The hairball is an issue on two fronts: it hinders the flow of information between solutions, and it prevents process automation, keeping costs high. In fact, research firm IDC advises companies to reassess cloud vendors based on a proven ability to deliver full SaaS integration, as well as their ability to provide a head start with innovation and digital transformation.
Sales and service is a continuous process, and the wall that companies have built between them is artificial. Nothing happens in a sales interaction that does not benefit from service interactions and resolutions (and the other way around as well). Therefore, Oracle has introduced Engagement Cloud, providing our customers with everything that was in sales cloud as well as some service capabilities. It is the perfect solution for those growing companies that recognize that sales must be a service organization and service can also be a sales organization.
Today, nearly every consumer-facing industry offers a subscription model, from tires to gas to automobiles. It just makes good business sense, by providing customers with the purchasing models they desire and allowing companies to create new revenue streams. This move to recurring relationships can be very profitable, but companies must tweak their internal systems and processes to manage subscription consumption effectively. Oracle Subscription Management Cloud brings together the back-office and front-office to help high-growth SMBs manage recurring revenue, subscription billing and revenue recognition, and provides front-office employees with a full view of their customers’ buying behavior.
Companies that are looking to truly transform customer experiences need customer data, and they need to be able to make sense of all that data. Pre-integrated with Oracle Customer Experience (CX) Cloud, CX Unity is a unique approach to managing all the behavioral, transactional, financial, and demographical customer data that resides in a variety of systems inside and outside the company. CX Unity solves this data challenge, by helping growing companies connect their data sources and enrich the data (using AI and machine learning) to gain the insights needed to deliver highly personalized experiences at every single touchpoint of the customer journey. No more data siloes. No more customer blind spots. Just increased sales, higher levels of customer satisfaction, and growing customer lifetime value.
Your employees have expectations (and so do your candidates). To help small-to-medium businesses effectively compete (and retain) the talent they need, Oracle has added new AI-powered innovations to Oracle Human Capital Management (HCM) Cloud. The goal? To make work smarter (smart sourcing that includes factors such as likelihood to accept, performance predictions, and expected tenure), make work simpler (for example, employees can use an HR-trained bot to get answers quickly and easily), and make work more agile (for example, strategic workforce planning).