The company said its boldly-named Monetization Cloud targets the digital commerce arena. The platform provides the full lifecycle of customer on-boarding, offer creation, rating, and billing.
Oracle said that agile billing capabilities are required to help enterprises generate recurring revenues and develop long-term customer relationships. Its Monetization Cloud includes the billing component combined with its traditional Oracle Cloud functionality and security.
The platform’s lifecycle support is available through a web-based user interface that allows for customer control over deployment and management. The system can connect with data from various front-office and back-office systems from Oracle, Chase Paymentech, and other third-party customer relationship management (CRM), e-commerce, and payment systems.
Oracle said the platform is fully compliant with Payment Card Industry and generally accepted accounting practices (GAAP).
“Subscriptions, demand-based price models, pay-per-use, and increasingly complex agreements with a litany of unique entitlements are now the norm,” said Andrew Dailey, managing director of MGI Research, tied to the Oracle announcement.
Oracle last week added services to its private cloud platform in an attempt to make enterprise data centers look and feel like the Oracle Cloud. The move expanded the Oracle Cloud at Customer portfolio to include Oracle’s platform as a service (PaaS) categories, and for the first time its software-as-a-service (SaaS) offerings.
Oracle claims organizations across six continents and more than 30 countries have started using its cloud services. This includes AT&T, Bank of America, the city of Las Vegas, and State Bank of India.
The company’s cloud business contributed to one of Oracle’s strongest quarters in years. Last month the company reported total cloud revenues increased 58 percent year-over-year to $1.4 billion in fiscal fourth quarter 2017.