In a modern economy dictated increasingly by subscription business models, managing recurring revenue streams and customer subscriptions has become increasingly complex for businesses across industries.
From subscription creation and pricing to billing, invoicing, and revenue reporting across various customer touchpoints, Oracle Subscription Management empowers businesses to efficiently manage subscription-based offerings while ensuring compliance with accounting standards and regulations.
In this article, we discuss the transformative capabilities of Oracle Subscription Management, exploring its key features, benefits, and the significant impact it has on revolutionizing subscription models for organizations of all sizes and sectors. We’ll also discuss where our expert Oracle consultants can fit on your team whenever you need a little extra TLC.
Understanding the Oracle Subscription Management Cloud
Oracle Subscription Management is a robust enterprise solution designed to address critical challenges associated with modern subscription services, offering organizations intuitive tools to streamline subscription lifecycle management, optimize revenue recognition, and enhance customer satisfaction.
By connecting CRM and back-office operations in a unified platform and enabling a complete view of customer buying behavior trends, Oracle Subscription Management simplifies the entire subscription lifecycle, leading to better subscription and renewal management and accurate billing models.
Oracle’s Subscription Management solution is also fully integrated with other applications across the Oracle landscape, enabling a more connected customer experience for product-and-service-based companies and greater revenue potential.
Critical Features of Oracle Subscription Management
Order-to-Revenue
By connecting all critical applications and customer touchpoints, organizations can automate and empower real-time oversight of invoicing, billing, and payment processes.
Manage
Reduce the number of different solutions required to complete subscription management tasks, such as creating new revenue models and automating complex payment workflows, by maximizing the power of your existing technology.
Maintain
Consolidate various subscription types, including one time, fixed, recurring, and usage-based pricing models into a single invoice to maintain compliance with critical revenue recognition guidelines.
Recognize
Utilize advanced revenue recognition capabilities to streamline usage calculations, add new subscriptions to an existing ERP system, and drive revenue growth through an API-first approach.
Reporting and Compliance
Oracle Subscription Management enables users to gain a complete view of their subscription lifecycle, including subscription usage, consumption, account health, and all other critical details to support finance, sales, and customer service teams.
Visualize
Leverage a single source of truth and prebuilt reports to view all customer data, user subscription activity, and other critical KPIs across the complete subscription management lifecycle.
Analyze
Outline and analyze KPIs and success metrics to determine the impact of subscriptions on the complete organizational landscape, including recurring revenue, average revenue per user, total contract value, customer lifetime value, and more.
Forecast
Utilize pre-built AI models to predict customer churn probabilities based on historical and current indicators, improve forecast pipeline accuracy, and identify key areas of improvement.
Flexible Maintenance Models
By simplifying complex processes across multiple systems and data sources and eliminating manual administration processes, Oracle Subscription Management makes it easier to support dynamic purchasing and quote management tasks, improve visibility, and enable greater customer autonomy with self-service capabilities.
Engage
Access the tools needed to support various engagement points throughout the customer lifecycle, including modification and management for deployment options and negotiation for subscription-based pricing, usage, or terms.
Grow
Strengthen customer relationships, elevate customer lifetime value, and grow recurring revenue through continuously evolving business models and services.
Envision
Access actionable insights to improve renewal management, identify at-risk customers, reduce customer churn, visualize cross- and up-sell opportunities, and build stronger relationships across the entire customer lifecycle.
Quote-to-Cash
Oracle Subscription Management Cloud enables organizations to take on new revenue streams and maximize existing ones by connecting critical touchpoints, automating invoicing and billing processes, and accelerating time-to-value across the customer payment process.
Key Advantages for Subscription-Based Business Models
- Improved customer satisfaction, trust, and retention
- Intelligent reporting for recurring and consumption-based billing
- Automated revenue recognition, billing, invoicing, and subscription pricing
- Prebuilt integrations between subscription pricing and all critical customer touchpoints
- Comprehensive platform for hybrid sales and business models
- Real-time oversight to track and manage every possible variable for efficient order fulfillment
How Can We Help?
Whether you need help implementing Oracle applications for the first time or just an extra hand maximizing the potential of your current Oracle landscape, Surety Systems is here to help.
Our senior-level Oracle consulting team has the experience and know-how to understand your critical project needs, build plans that align with existing personnel and resources, and lead you to and through the Go-Live finish line.
Contact Us
For more information about our Orale consulting services or to get started on a project with our team of expert Oracle consultants, contact us today.
