Oracle has announced the general availability of a new all-in-one customer experience management solution.
The Oracle Communications Digital Business Experience promises to drive revenue at “every stage of the customer journey.”
The tool has been engineered to enable telcos to unlock the full potential of their AI and automation innovations by housing several customer service and experience features within one comprehensive platform.
These features include a commercial and billing product catalog, configure-price-quote (CPQ) and order capture features, Siebel-powered customer relationship management (CRM), central order management, and monetization capabilities.
In bringing these systems together, Oracle believes that the solution will “simplify deployment complexity,” and provide users with the foundation to explore new services.
The ability of the new tool to deliver a smoother, more user-friendly experience was discussed by Andrew Morawski, Executive Vice President and General Manager of Oracle Communications:
Oracle Digital Business Experience makes it easier than ever for telcos to automate the delivery of new offers and experiences for their customers, whether that means traditional network services or becoming vertical industry service providers.
“Regardless of the path they take, Oracle’s new offering, powered by best-of-breed industry CRM capabilities gives providers the advantage of AI-powered applications and services to support a broad range of use cases from concept-to-cash-to-care.”
But how exactly does the Oracle Communications Digital Business Experience deliver these revenue opportunities?
Concept-to-Cash-to-Care
While Oracle’s latest solution offers several appetizing features and benefits, it is the revenue driving aspect of the tool that is sure to catch the eye of potential customers.
In order to achieve this, the company deploys an intuitive, GUI-based enterprise product catalog that allows 1-click publishing to downstream applications like CRM, billing, and order fulfillment.
This ensures accurate and efficient order delivery across channels through central order management, and enables providers to monetize any network, service, or business model with a robust billing and monetization engine.
Away from the tool’s revenue capabilities, it also claims to be able to enhance customer loyalty through the company’s customer data management feature, which enables businesses to deliver more personalized and meaningful customer experiences by eliminating data fragmentation.
By leveraging Oracle AI on Oracle Cloud Infrastructure, the solution provides proactive customer care, redirects calls from contact centers, improves customer service agent efficiency, and boosts first call resolution rates – ensuring a seamless customer journey across all lifecycle stages.
Additionally, the solution offers out-of-the-box capabilities that simplify IT complexity for telecom providers by supporting all lines of business.
Described by Oracle as “highly configurable,” the solution is aligned with key industry standards such as 3GPP, Cloud Native Compute Foundation (CNCF), TM Forum Open APIs, and Open Digital Architecture.
This alignment allows service providers to maintain and enhance their business agility, adapting quickly to industry changes.
As well as simplification, the tool also boasts efficiency-boosting capabilities.
Service providers can deploy this fully containerized, cloud-native solution on private, public, or hybrid infrastructures, with immediate support for open-source tools to optimize cloud performance.
Developed with a solution-driven design, the offering enables automation across business processes, reducing process proliferation and streamlining operations for improved efficiency.
For John Abraham, Principal Analyst at Appledore Research, Oracle’s innovation is a sign of where the telco sector is headed:
Telcos are digitalizing their business and investing in capabilities to help them better serve and forge deeper relationships with their B2C and B2B customer base.
“As they strive to deliver a ‘digital native’-like customer experience and participate in multi-dimensional revenue opportunities, they need end-to-end solutions that can help them deliver hyper-personalized experiences with minimum human intervention and seamlessly manage complex process flows, such as the handover from central order management (COM) to service order management (SOM).”
More News from Oracle
Earlier this month, Oracle announced that Syniverse’s personalized messaging tool, the Syniverse Communication Gateway, would now be available on the Oracle Cloud Marketplace.
The tool has achieved “Integrated” status with Oracle Cloud Expertise, enhancing its accessibility to Oracle customers.
This solution, designed for customer engagement, will allow businesses to securely interact with potential employees via SMS.
Additionally, it will integrate with Oracle Cloud Recruiting, enabling companies to automate and personalize communication with candidates globally.
Customers will also benefit from instant, personalized communication; improved security; global availability; and turnkey support.
Elsewhere, Oracle has introduced new AI features to its Fusion Cloud Customer Experience (CX) suite, which covers areas beyond traditional CRM, including service, sales, marketing, commerce, and more.
Following a major AI release in September 2023, Oracle has now enhanced the Service and Sales applications with AI capabilities.
In Oracle Service, a new Generative AI Assisted Answer Generation feature automatically creates relevant responses to customer inquiries, allowing agents to review and edit them before sending.
This speeds up response times and lets agents focus on more complex issues.
The new features also include an Assisted Scheduling for Field Service capability that uses AI to optimize scheduling for field technicians by considering factors like availability, location, and skills.
