Industry Leader

Oracle Named Industry Leader, Shares Fall

By adminMay 9, 2024No Comments2 Mins Read

Baystreet.ca – Oracle Named Industry Leader, Stock Falls<br />

The energy industry is evolving, and energy and water utilities have adapted by diversifying their service portfolios, adopting cloud technologies, and prioritizing customer experience. Recognized for its ability to help organizations meet the expanding needs of residential, commercial, and industrial customers, Oracle (NYSE:ORCL) has been named a Leader in the IDC MarketScape: Worldwide Customer Information Systems and Billing Solutions for Utilities 2024 Vendor Assessment.

According to a news release this morning, “Many utilities using outdated legacy customer information systems (CIS) struggle to keep up with the innovation and regulatory needs of their industry. To address these needs, Oracle has built the most advanced customer platform that offers integrated customer engagement, C&I sales, customer experience, energy management, meter-to-cash, field service, and an expanded array of back-office capabilities.”

“Since our last report in 2016, market shifts have significantly altered utility company expectations for CIS and Billing (CIS&B) solutions to comprehensive technology platforms that help them reduce costs and meet customer demands with innovative products and services,” said Gaia Galotti, research director, IDC Energy Insights.

“Oracle is positioned in the Leaders category in this 2024 IDC MarketScape for CIS and Billing Solutions for Utilities. Oracle Energy and Water customer platform solutions cover a broad range of capabilities and functionality designed to meet the needs of customers navigating the energy transition, including complex C&I customers.”