Oracle recognized for excellence in complex
billing, commercial and industrial customer management, demand
response, and innovative programs for limited-income
consumers
AUSTIN,
Texas, May 9, 2024 /PRNewswire/ -- In the
evolving energy landscape, energy and water providers have adapted
by diversifying their service portfolios, embracing cloud
technologies, and prioritizing customer experience. In recognition
of its ability to help organizations meet the expanding needs of
both residential and commercial and industrial customers, Oracle
was named a Leader in the IDC MarketScape: Worldwide
Customer Information System & Billing Solutions for Utilities
2024 Vendor Assessment.1 Read the report
excerpt here.
"Since our last report in 2016, market changes have drastically
shifted utilities' expectations for CIS and billing (CIS&B)
solutions toward comprehensive technology platforms that help
reduce costs and satisfy customer demands with innovative products
and services," said Gaia Gallotti,
research director, IDC Energy Insights. "Oracle is positioned in
the Leaders Category in this 2024 IDC MarketScape on CIS &
Billing Solutions for Utilities. Oracle Energy and Water's Customer
Platform solutions cover a wide breadth of features and
functionalities designed to cater to the needs of customers
navigating the energy transition, including for complex C&I
customers. In particular, Oracle was recognized in our report for
its broad portfolio of integrated solutions and deployment options,
specialized capabilities in demand response and predictive
analytics, and advanced analytics and AI focus."
Modern, flexible options
Many utilities using dated, legacy Customer Information Systems
(CIS) are struggling to keep pace with industry innovation and
regulatory needs. To address these needs, Oracle has built the most
advanced customer platform that provides an expanding array of
integrated customer engagement, C&I sales, customer experience,
energy management, meter-to-cash, field services, and back-office
capabilities.
Utilities of all sizes, including Portland General Electric, Gas
South, Lubbock Power & Light, and Lower Colorado River
Authority, use Oracle's integrated customer billing and MDM
platform to enhance service offerings, support smart meter
rollouts, and have a 360-degree view of customers to help deliver
exceptional service. Customers can choose between the convenience
and lower total cost of ownership of SaaS with Oracle Utilities
Customer Cloud Service or the on-premises CIS deployment, Oracle
Utilities Customer to Meter.
A key strength recognized by the IDC MarketScape is Oracle's
flexible support for utilities managing complex C&I customers.
The IDC MarketScape noted, "Oracle Energy & Water's Customer
Platform solutions are implemented and supported around the globe
and have solid customer footprints where operating models and
regulatory structures enable utilities to make significant
investments in CIS & billing products, namely North America, Europe, the Middle
East, and Asia."
Future-focused analytics and AI
With Oracle, utilities streamline operations and reduce
cost-to-serve with AI-enriched workflows and automation across
customer, back office, and field operations. Built-in analytics and
insights place the most relevant information in front of both call
center agents and customers upon request. The IDC MarketScape
noted, "There are additional extended functionalities that are
available as part of Oracle Energy and Water's larger portfolio of
integrated solutions, including tools to analyze customers' ability
to pay and provides predictive analytics to identify financially
vulnerable customers and predict eligibility for low-income
programs, rate analysis, rate comparison, and complex quoting."
The IDC MarketScape also highlighted Oracle's forward-looking
investments in transformative technologies, noting, "Oracle is
investing in GenAI and developing use cases that integrate GenAI
capabilities to simplify the creation of knowledge articles,
summarize customer calls, generate responses to email support
requests, and suggest answers within a chat."
"As global energy and water companies evaluate their current
CIS&B capabilities and future strategies, it's critical to
consider modern solutions that offer easy integration, flexible
support for new business models, and AI-powered CX innovations,"
said Creighton Oyler, senior vice
president and general manager, Oracle Energy and Water. "We believe
Oracle's recognition in the Leaders Category in this vendor
assessment is a result of our commitment to constantly expanding
the ways utilities can transform their business with progressive,
end-to-end technologies."
Read the report excerpt here.
About the IDC MarketScape:
The IDC MarketScape vendor assessment model is designed to
provide an overview of the competitive fitness of ICT (information
and communications technology) suppliers in a given market. The
research methodology utilizes a rigorous scoring methodology based
on both qualitative and quantitative criteria that results in a
single graphical illustration of each vendor's position within a
given market. IDC MarketScape provides a clear framework in which
the product and service offerings, capabilities and strategies, and
current and future market success factors of IT and
telecommunications vendors can be meaningfully compared. The
framework also provides technology buyers with a 360-degree
assessment of the strengths and weaknesses of current and
prospective vendors.
1 IDC MarketScape: Worldwide Customer
Information System & Billing Solutions for Utilities 2024
Vendor Assessment," (Doc # US49060523),
March 2024.
To learn more about Oracle Energy and Water solutions visit
here and join the discussion on LinkedIn.
About Oracle
Oracle offers integrated suites of applications plus
secure, autonomous infrastructure in the Oracle Cloud. For
more information about Oracle (NYSE: ORCL), please visit us
at oracle.com.
Trademarks
Oracle, Java, MySQL and NetSuite are registered trademarks of
Oracle Corporation. NetSuite was the first cloud company—ushering
in the new era of cloud computing.
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SOURCE Oracle