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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.

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SOURCE Oracle