Oracle Redefining Customer Experience With Cloud
To thrive in today’s customer-centric environment, brands need to deliver the best customer experiences, in other words, just the way customers want it. At the recent Oracle Customer Experience Summit held in Delhi, Shailender Kumar, Managing Director, Oracle India mentioned, “Technologies such as social, cloud, in-store, mobile, and call center are driving customer experience and at the same time, raising the bar for companies that are increasingly competing in a digital world.”
He mentioned the three key trends companies should focus on are personalization, connectivity and consistency, when delivering unparallel customer experience.
While delivering an unprecedented customer experience in India, Oracle said it is witnessing a strong demand for its cloud solutions in the country. Its Software as a Service (SaaS) business is witnessing the fastest adoption rate till date, with Platform as a Service (Paas) fast catching up, said the company.
According to Kumar, the Oracle Customer Experience Cloud (Oracle CX Cloud), which includes Oracle Sales Cloud, Oracle Service Cloud, Oracle Marketing Cloud, and Oracle Social Cloud, had the highest uptake in customer adoption and accounts for more than half of the company’s SaaS customer base.
A chunk of its SaaS business comes from Oracle Human Capital Management Cloud (Oracle HCM Cloud) customers. The rest of its business includes customers using ERP in the cloud or PaaS, among others.
Over the last few years, Oracle has gained several cloud customers in India, notable among them are Airtel, Flikart, Jabong, MakeMyTrip, L&T, Birlasoft Limited, iGate, Indiabulls, Kotak Life Insurance, PolicyBazaar.com, PVR Cinemas, Reliance Commercial Finance and Thomas Cook, to name a few.
The company is also reportedly working with the India government in areas of cloud and social engagement, and is contributing to the country’s Digital India projects. Kumar believe with a comprehensive portfolio and specialized go-to-market strategy, the company can become a top cloud vendor both in India as well as globally in next one year, offering unprecedented customer experience.
Oracle’s global SaaS and PaaS revenue grew by 30 percent to $375 million while IaaS revenue was $155 million, up by 32 percent in the third quarter of FY 2015. The company’s cloud revenues comprise more than $1 billion in half a year, with a run rate of more than $2 billion per year, according to a statement issued by the company in April.
According to the respondents of an Oracle CX Survey, the average potential annual revenue lost as a result of not offering a positive, consistent, and brand-relevant customer experience is 18 percent of annual revenue.
“In the age of mobile and e-commerce, siloed channels and systems are creating greater customer dissatisfaction and this is a gap that needs to be addresses,” said Joe Fuster, VP- Oracle CX Cloud at the summit.
“There is a significant correlation between customer satisfaction and customer loyalty as both are essentially coupled for the long-term growth of any company. Customer experience plays a pivotal role in the making of a satisfied customer,” Fuster commented.
He believes that today every industry can leverage great customer experiences to build lasting customer relationships through positive service and sales interactions. “This also helps businesses revenue and adding customers, while selling more products to current customers.”
Read more: The Future Of Cloud Is Hybrid
Business impact of digital disruption including social, mobile and cloud is changing our world, said brand expert & CEO, Harish Bijoor Consults Harish Bijoor, a key speaker at the summit. He believes with this, the demand for personalized and customized experiences is accelerating and this trend will continue to grow.
“In the age of smart, connected customers, personalization is the future of experience. As more companies get better at using data to truly understand their customers, the more important personalization and customization is going to be, he concluded.
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