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 (NYSE:ORCL) was named a Leader in the IDC MarketScape: Worldwide Customer Information System & Billing Solutions for Utilities 2024 Vendor Assessment.
According to this morning’s news release, “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.”
“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.”
ORCL shares shrank 26 cents to begin Thursday at $117.12.