Oracle has introduced a cloud-based service for enterprises to manage billing functions and explore new revenue sources in the digital commerce market.
The Billing and Revenue Management Cloud Service works to facilitate product development, bundling and post-launch adjustments for industries such as the financial services, communications and media sectors, Oracle said Tuesday.
The offering runs on Oracle technology that is designed to help businesses move ito a cloud computing environment and meet security requirements.
Bhaskar Gorti, senior vice president and general manager of Oracle Communications, said the company launched the service for businesses that aim to simplify financial operations and monetize new products.
Oracle’s platform works to manage subscription and metrics such as usage, time of day, length of use and delivery method.
The company also intends for the service to guide clients in reporting financial statements in accordance with GAAP frameworks.