infoTECH Feature

May 31, 2016

Monetization Optimization Paramount in NOW Economy

A few weeks ago I posted an item that described the NOW Economy and why if your organization is not literally and figuratively not in the moment creating and sustaining competitive advantage and ultimately revenue growth and profitability could, to say it kindly, be problematic.  As I noted then, we already live in a world where real-time (aka NOW) is the only time.  It is what I have characterized as, “The Age of Acceleration,” where the only constants are change and the increased speed it is coming at us.

It was also noted that there are several big inexorable changes speeding our way.  These include:

  1. Software really is eating the world, and the way in which it is doing so is being facilitated by the move of almost “E”verything to the cloud.
  2. As a result of #1, having the having the agility, extensibility, scalability, visibility, and control to be able to see everything of value have become ever more critical for a host of reasons regarding packing, pricing, planning and compliance just to name a few.
  3. In a NOW economy, where “X-as-a-service (XaaS)” offerings, i.e., subscriptions, are becoming a preferred way individuals and organizations consume software-based services, having next-generation billing and revenue management via a cloud service is becoming a business necessity and not just a nicety.  

The later point about subscriptions is important. First is because business is shifting toward recognition of the desirability of having recurring revenue streams.  Second, and why this is such a challenge is that that legacy licensing and entitlement management systems and billing and revenue management systems were not designed for an increasingly cloudy world.  In short, they are inadequate for assuring organizations are in a position to optimize the monetization of their digital assets. 

That said, realities are that transforming your organization to optimize its revenue potential in the NOW economy is complicated.  There are a lot of moving parts, people and processes that need to be taken into account. Plus, the goal needs to be that you as the administrator have the tools to make the complicated simple so that you can provide your organization the returns on investment and rich customer experiences it is counting on.

All of this was the subject of the recent webinar, Monetizing the NOW Economy: Cloud Billing for Enterprise Subscription Services

In case you missed it, not to worry since it is available for downloading and review. During the live presentation Jean Lawrence, Product Marketing, Billing and Revenue Management Cloud Service, Oracle (News - Alert) and Brian Kracik, Senior Director, Product Marketing, Enterprise and Cloud Services and I delved into:

  • What’s driving subscription commerce and what capabilities are required for the NOW economy
  • Pathways, deployment models and considerations for cloud billing
  • How cloud billing can deliver new subscription services quickly and cost-effectively, provide real-time views of your customer base, and achieve financial compliance

As an inducement to spend some time with the webinar, and understand why making the complex simple is so important, the following slide from the presentation is illustrative of all of the things from a functional perspective that need to be managed. 

Source (News - Alert):   Oracle Communications, May 10, 2016 webinar, Monetizing the NOW Economy: Cloud Billing for Enterprise Subscription Services.  

Yes, it is complicated but the Oracle solution can be a powerful, easy-to-use (dare I say simple) way to assure your organization is ready not just for whatever the future holds in terms of being to bill and manage the explosion of services being created by an acceleration of apps, and the enormous opportunities the Internet of Things (IoT) and next generation mobility are rapidly bringing to the market.  

Edited by Maurice Nagle

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