Oracle updates Fusion Cloud CX with CDP, B2B buying features

Oracle has updated its Unity Customer Data Platform (CDP) with new features to help enterprises improve customer experience and engagement, and optimize marketing spend.

The latest updates made to Unity CDP — announced at the CloudWorld 2024 conference — are designed to offer marketers and sellers actionable account views that leverage customer intent data from marketing, sales, and service combined with finance, product usage, contract, and supply chain sources to help enterprises engage buying group members at target accounts with precise upsell and cross-sell opportunities, the company said.

Unity CDP is part of Oracle’s Fusion Cloud Customer Experience (CX) suite.

The new updates include an account profile explorer, and features, such as native Oracle Analytics cloud integration, industry onboarding accelerators, and buying group and opportunity scoring.

The new account profile explorer is designed to help marketing and sales teams deliver upsell and cross-sell engagements to grow revenue opportunities.

“This feature provides a view of an account from a foundation of connected business and customer data that drive native AI recommendations and can pinpoint recommendations for the best offer,” the company said in a statement.

Separately, the buying group and opportunity scoring feature is designed to help sales teams identify opportunities within a buying group faster with the help of AI to detect signals, based on role, tile, and aggregated topic engagement.

According to Oracle, these AI recommendations will include suggestions for taking actions or steps to close the sales opportunity.

A native integration with Oracle Analytics Cloud will help enterprises’ marketing teams to get insights and enhance the decision-making process, Oracle said.

Other new features of Unity CDP include industry onboarding accelerators that are designed to help enterprises accelerate time-to-value on CDP implementations with industry-optimized templates, data models, and attributes, said Natalia Rachelson, group vice president of Oracle Fusion Cloud Applications.

“Oracle CX Unity CDP now has industry accelerators for high tech, industrial manufacturing, professional services, telecommunications, utilities, financial services, travel, and retail,” Rachelson added.

Self-service for buyers in Cloud CX

Oracle has also added new capabilities to Fusion Cloud CX that will allow self-service for buyers, streamlining collaboration related to quotes, proposals, orders, and contracts.

These capabilities would allow enterprises to engage with buyer groups through shared access to quotes, orders, account profiles, subscriptions, and renewals.

The self-service capabilities also have been laced with AI models that combine the entire buying process along with a customer’s historical data, and data from the financial applications in the Fusion Cloud Applications Suite, Rachelson said, adding that the financial application data is underpinned with historical data based on recurring revenue, usage, and consumption.

Due to this combination, enterprises can offer their customers an assisted buying experience, the vice president explained.

Other updates include the introduction of generative AI for contract summarization and sellers.

The generative AI features inside Fusion Cloud CX will allow sellers to identify and capitalize on sales opportunities by helping them draft emails, activity summaries, sales executive briefings, and executive summaries for quotes and proposals.

Separately, the contract summarization feature will help enterprises reduce contract processing time by providing quick answers to contract-related questions, helping sellers and buying groups to track important milestones and obligations, and improving governance and compliance.

Fusion Cloud CX, according to Rachelson, also offers unified CPQ, contracts, and order management.

“This feature will help enterprises increase the speed and accuracy of transactions, manage complex enterprise sales agreements, and honor pre-negotiated terms during the ordering process by unifying contract management, order management, subscription management, and configure, price, and quote (CPQ) capabilities,” Rachelson explained.