Oracle Helps Organizations Make B2B Buying Experiences Easier

Rhea-AI Summary

Oracle has unveiled new capabilities within Oracle Fusion Cloud Customer Experience (CX) to enhance B2B buying experiences. The updates provide self-service access to a unified view of commercial relationships, enabling better collaboration between buyers and sellers. Key features include:

1. A unified digital buying channel for quotes, orders, profiles, subscriptions, and renewals
2. Generative AI for contract summarization and seller assistance
3. Unified CPQ, contracts, and order management

These enhancements aim to streamline B2B transactions, support complex revenue models, and improve customer relationships. The solution connects processes from CX and financial applications, supporting various go-to-market strategies including recurring revenue and consumption-based models.

Positive

• Introduction of self-service access for B2B buyers, potentially increasing customer satisfaction and reducing sales team workload
• Implementation of Generative AI for contract summarization and seller assistance, likely improving efficiency and deal closure rates
• Unification of CPQ, contracts, and order management, potentially streamlining operations and reducing errors
• Integration of CX and financial applications, supporting complex revenue models and potentially increasing adaptability to market demands

Negative

• None.

New unified digital buying channel and AI capabilities help B2B buyers and sellers streamline collaboration around quotes, proposals, orders, and contracts

LAS VEGAS, Sept. 11, 2024 /PRNewswire/ -- Oracle CloudWorld -- Oracle today announced new capabilities within Oracle Fusion Cloud Customer Experience (CX) that give buyers self-service access to a unified and active view of their commercial relationship with an organization. The latest updates provide buying groups and selling teams with a collaborative commerce solution that delivers a view of quotes, orders, account and contact profiles, subscriptions, renewals, and assets to help drive better outcomes and revenue throughout the life of a business relationship.

"By unifying buying, selling, ordering, and billing flows across the organization, we're enabling enterprise organizations to bring new value to their customers as they build better long-term relationships," said Kartik Raghavan, senior vice president of product development, Oracle Cloud CX. "We've spent the last year folding our industry-leading Commerce offering into our unified revenue transformation solution, so now our customers can easily activate a buying channel that handles all the complexities of B2B selling."

The new digital buying experience connects processes and data from customer experience and financial applications in Oracle's revenue transformation solution to support increasingly sophisticated go-to-market models such as recurring revenue, usage-based, and consumption-based strategies. New use cases include:

• Self-service access: Helps organizations engage with buyer groups through shared access to quotes, orders, account and contact profiles, subscriptions, and renewals.
• Assisted buying experiences: Empowers buying groups to engage with selling teams and find a solution to their needs by evaluating product fit, negotiating pricing or terms, or assistance with placing orders.
• Full-service sales engagements: Empowers sellers to engage buyers with an intelligent, interactive buying experience from sharing quotes and content all the way through onboarding a new account.

New capabilities in Oracle's revenue transformation solution include:

• Generative AI for contract summarization: Helps organizations reduce contract processing time and close deals faster by providing quick answers to contract-related questions, helping sellers and buying groups to track important milestones and obligations, and enables better internal oversight.
• Generative AI for sellers: Helps sellers quickly capitalize on sales opportunities and efficiently engage with buyers to drive further account expansion by drafting emails, activity summaries, sales executive briefings, and executive summaries for quotes and proposals.
• Unified CPQ, contracts, and order management: Helps organizations increase the speed and accuracy of transactions, manage complex enterprise sales agreements, and honor pre-negotiated terms during the ordering process by unifying contract management, order management, subscription management and configure, price, and quote (CPQ) capabilities in Oracle Cloud CX.

"Revenue leaders are challenged with keeping up with what customers need, when they need it, and how they want to buy it. It gets even more challenging when managing multiple revenue streams, channels, and products," said Paul Greenberg, founder and managing principal, The 56 Group. "It's great to see Oracle consistently investing in its CX solutions that are now able to make B2B buying much easier, better the experience, and ultimately increase revenue."

Part of Oracle Fusion Applications, Oracle Cloud CX helps organizations connect data and workflows across marketing, sales, and service to make every customer interaction matter. To learn how Oracle Cloud CX can help your organization improve the customer experience and build brand loyalty, please visit: oracle.com/cx.

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SOURCE Oracle

FAQ

What new capabilities has Oracle (ORCL) added to its Fusion Cloud Customer Experience?

Oracle has added self-service access for B2B buyers, Generative AI for contract summarization and seller assistance, and unified CPQ, contracts, and order management capabilities to its Fusion Cloud Customer Experience solution.

How does Oracle's (ORCL) new B2B buying experience affect revenue streams?

Oracle's new B2B buying experience supports various go-to-market models including recurring revenue, usage-based, and consumption-based strategies, potentially enabling organizations to diversify and optimize their revenue streams.

What are the benefits of Oracle's (ORCL) Generative AI features in the new CX update?

Oracle's Generative AI features help reduce contract processing time, enable faster deal closures, assist sellers in capitalizing on sales opportunities, and improve efficiency in engaging with buyers through automated drafting of emails and summaries.

How does Oracle (ORCL) unify the buying and selling process in its latest CX update?

Oracle unifies the buying and selling process by connecting data and workflows across marketing, sales, and service, and by providing a collaborative commerce solution that offers a unified view of quotes, orders, profiles, subscriptions, and renewals.