As I listened to Oracle’s recent industry analyst briefing on the future of Oracle’s front office software, Oracle Cloud Customer Experience (CX), I wondered if the ongoing debate about finding the best application was finally resolved. I couldn’t help but wonder. For all functionality rather than using the integrated suite. This question applies to all advisory practices for my company’s software, services, and of course hardware.
It’s true that a best-of-breed approach can be a consolidation effort with separate upgrade cycles for each software package. Then you can troubleshoot the integration each time. There really isn’t a “magic API” for large enterprise apps. Companies should weigh these challenges outlined above against the potential orders of magnitude added value of point products. I’m not saying it’s worthless, but it would be nice to have.
Oracle has a suite and issues quarterly software upgrades. The underlying Software as a Service (SaaS) platform is integrated so businesses can immediately take advantage of new features without additional application updates or integration testing.
For many people, the debate is teeth And Oracle has carved out one of the most unique positions in the market as a leading enterprise application with an integrated suite of front- and back-office applications (Oracle Fusion Cloud Applications) running on Oracle Cloud Infrastructure (OCI). I was. Suite. believe me. All major enterprise software and services members are headed in this direction and are investing capital to get there. Oracle is already here.
Against the backdrop of changes in the CX division last year, we wanted to confirm that the state of the Oracle nation under Oracle founder and CTO Larry Ellison is still strong.
Consumer expectations favor an integrated approach to CX
I agree with the logic behind a unified approach to CX. Consumers want their channel choice, whether it’s mobile, online agent chat, or face-to-face, and they want the ability to easily jump from one channel to another without losing the context of the interaction. .
Consumers also want to be able to purchase products and services through any channel. Consumers are concerned about safety and privacy, but are willing to trade insights about their digital identities in exchange for the perfect customer experience.
Businesses must respond to these trends by managing data from multiple sources in a scalable and secure manner and by providing one voice for consumers across the organization. Solutions with a cloud-based, integrated approach provide adequate risk mitigation and cost control without sacrificing required functionality.
Traditional approaches to CX are likely to stop working in the future
In the past, bespoke processes covering specific functions such as sales and call centers often led to many single-purpose applications. In new markets, this makes perfect sense. Over time, many of these single-purpose solutions become unsustainable. This is because all businesses should focus on reducing operational costs through simplification. There is also the concept of excess needs. To fully meet customer expectations, ensure that information and data are aligned across front and back office systems such as Enterprise Resource Planning (ERP), Human Capital Management (HCM), Supply Chain and Manufacturing (SCM) I believe it is necessary.
Oracle believes that single-purpose CX technologies are not sustainable. Efforts to modernize CX include leveraging Oracle Fusion. Application platform Infrastructure, operations, security, and data to support end-to-end flows and native cloud services. An integrated approach enables customers to break down organizational silos, standardize and automate processes, and manage financial, supply chain, human resources, and customer experience data in a single, unified cloud platform.
For example, I believe that CX processes that facilitate the transition from sales opportunities and service escalations directly to Zoom video conferencing can unlock people’s ability to solve problems in a variety of ways and places. The value gained from integrated systems will be even more appreciated in the light of new work habits as the workforce becomes more urbanized, distributed and globalized.
A unified CX suite enables innovation
By linking it with back-office functions and data stored in Oracle Fusion Cloud ERP, we believe that sales automation will be greatly enhanced, allowing sales to spend more time selling and not forecasting.
As another example, a recommendation engine can use customer data to inform sales reps of prospect profiles that share key characteristics with customers who have previously purchased a particular product. The recommendation engine not only identifies potential companies to approach next, but also automatically launches targeted digital advertising. An automated lead qualification and generation system can also generate proposals for customers. The system tracks all products and related references, while machine learning and AI identify the best sales opportunities for specific products.
Such innovation is only possible through the integration of a complete suite of applications from sales to service, marketing to advertising, front office to back office.
Oracle tailors integrated offerings for specific industries
Oracle is in the next stage of maturity with its integration suites, tailored for specific industries. For example, an integrated package of sales, service, and marketing automation, known as Digital Experiences for Telecommunications, is now available specifically for the telecommunications industry.
Oracle offers hybrid solutions where legacy technology and modern systems coexist. Legacy systems serve as systems of record until companies are ready to replace them with modern cloud-based systems. Given our scope and history as an application and technology provider, Oracle is uniquely positioned to lead the transition from legacy to modern solutions.
For example, Oracle cites the telecommunications industry as an example. During the pandemic, Telefónica had to adjust its service routing process to be more efficient and reduce the amount of time spent at home for its clients. This is important considering the company is in Brazil and he handles over 50,000 calls a day. Service and maintenance also require a large parts inventory and skilled technicians. Oracle demonstrated a complex but seamlessly orchestrated flow across digital engagement channels, IoT services, field service, logistics, and repair. This resulted in a streamlined flow that represents his one view of data across CX interactions, such as part logistics or technician dispatch to the field. All of this facilitated his work for one of the world’s largest telecommunications companies.
Are the “best of breed” and suite debates over? I think people still debate it, but companies want and need features that look, feel and operate like integrated suites. You can get there with a lot of integration work that takes a lot of people and time, or you can adopt a suite. those are the options.
As markets, consumers, and employee expectations mature, businesses will have moments of introspection and introspection to determine if all the extra work is worth the perceived benefits of the “best of breed”. We have to make sure. Do your employees and customers really need that 500?th new function? Are your needs overfilled? Can your employees stick with the same tools for 10 years without significantly increasing your ROI? You should strongly consider moving from building and maintaining to more cost-effective, efficient and innovative products that seamlessly connect front and back office business processes.
A best-of-breed approach would have separate ERP, HCM, and CRM systems, managed by multiple suppliers. Updates from multiple suppliers typically result in complex, costly, and error-prone integrations. There’s no magic API, but I wish there was an API for hardcore enterprise applications. Oracle delivers Fusion applications through a SaaS model, with upgrades released every 90 days and full integration testing. I’m not cheerleading here, just pointing out the facts.
In summary, Oracle’s CX development focus is on next-generation solutions for sales and service supported by an integrated application platform running on OCI. The bet is that the latest version of the integrated suite will retain Oracle’s existing customers while also attracting new customers who are challenging their existing investments in best-of-breed solutions.
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