5 Ideas: Social Business

As we wrap up the week, it's pretty interesting to think how far "social business" has come. Technologies like Facebook and Twitter have transformed the online landscape for individual and group interactions, but it’s so much more than that. A few years ago, many were skeptical if this social networking phenomenon could be replicated in the business world. Today, it’s becoming critical for businesses to adopt collaborative technologies to innovate and stay ahead of the competition. Organizations are finding out by using social technologies and integrating them with their applications and business processes, they are adding a new dimension of interaction with customers, employees and partners. Connecting the internal efforts of employees and using collaborative technologies to extend the organization’s reach to others allows organizations to transform to social businesses.

As many of you are aware, in June, Oracle bought FatWire, a leading provider of web experience management solutions. The acquisition enables Oracle to provide a complete customer experience management solution that helps organizations drive customer retention and loyalty through improved online engagement — across web, mobile and social channels. In these five ideas, learn more about Oracle's recent acquisition and other social networking solutions that could transform your company.

“Together, Oracle and FatWire plan to deliver the most complete web experience management solution that will enable companies to fully optimize the customer experience with innovative social tools that enable user generated content in a managed environment. The addition of FatWire products will give Oracle the ability to provide a complete suite of software that empowers web marketers to engage visitors, converting more prospects to customers, and enhancing customer loyalty.” —Hasan Rizvi, Senior Vice President at Oracle

“Social media and networking tools, popularly known as Web 2.0 technologies, are rapidly transforming user expectations of enterprise systems. Many organizations are investing in these new tools to cultivate a modern user experience in an 'Enterprise 2.0' environment that unlocks the full potential of traditional IT systems and fosters collaboration in key business processes...A fundamental promise of Enterprise 2.0 is that ideas will be generated and shared by everyone across the organization, leading to increased innovation, agility, and competitive advantage.” —Kellsey Ruppel, senior product marketing manager at Oracle

“The goal is not to replicate something just like Facebook or YouTube inside the enterprise. It’s to think about how an application such as Facebook engages people to participate, share, connect and drive value. How do you then make that about doing those same things but focus them on a business process or activity?” —Andy MacMillan, Vice president, product management, Oracle WebCenter

“Oracle WebCenter provides Activity Streams—a channel that enables the capture and distribution of knowledge that was once only possible in an enterprise's infancy. Similar to Facebook's wall, Activity Streams collect and broadcast the activities of a specific individual. Activities are collected from business tools across the enterprise such as discussion forums, document repositories, and applications.” —Oracle WebCenter expert John Brunswick

“If you really want to have some influence on buying and purchasing decisions, whether it be for technology or anything else, go in armed with a list of certainties. For example, what do you know about your customers? Because they are changing fast. Then, look at the executives you’re going to be talking to, asking for that budget to expand what you’re doing, and the personal pain they are experiencing. Maybe it’s stockholders or maybe it’s Wall Street. Don’t go in asking for technology, go in understanding that pain. Show them how your tools can be applied to help — and how your plan is based on what you know will happen, versus knowing what might happen. You can sell if you know certainty.” —Daniel Burrus, author of Flash Foresight

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Oracle WebCenter is the center of engagement for business—powering exceptional experiences for customers, partners, and employees. It connects people, process, and information with the most complete portfolio of portal, Web experience management, content, imaging and collaboration technologies.

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