On its quest to become the “world’s largest enterprise cloud company” — as Oracle CEO Mark Hurd recently declared — Oracle unveiled yesterday (June 29) its Oracle Commerce Cloud, an SaaS solution built for the Oracle Public Cloud. Oracle says its new Commerce Cloud utilizes the latest technology to help business innovation and rapid growth, while simplifying IT management and reducing costs.
"Commerce Cloud is a new, differentiating piece of the broader Oracle CX cloud applications portfolio and helps ensure online businesses no longer have to worry about deploying code, upgrading and managing day-to-day infrastructure,” said Ken Volpe, senior vice president of product development at Oracle. “Online businesses can focus on building customer experiences that drive innovation and growth, and an automatically responsive user interface gives brands a limitlessly configurable storefront with proven features expected from the commerce experts."
The new cloud-based tool is designed to allow online businesses to launch responsive storefronts across desktop and mobile devices. No longer limited by cookie-cutter site options, marketers and merchants get a configurable storefront out-of-the-box with pre-integrated core commerce features including: search/navigation, recommendations, promotions, reporting, payments, design templates and SEO. Catalog, content, design and merchandising management are included within the management console.
According to PCWorld, Oracle Commerce Cloud can be priced on a tiered usage model, based on annual storefront page views, or on a revenue share model based on gross merchandise volume. It was pre-released in the spring of 2015 and is expanding to midsize B2C and B2B businesses that are selecting the product to drive their eCommerce strategy in Q4FY15.
Researchers found a market cap of $5.6 billion in 2006 to a tenfold increase of $56.6 billion in 2014. “The depth and breadth of cloud progress is pretty shocking,” said leading cloud investor Byron Deeter, who heads BVP. In a recent interview in April, Oracle Senior Vice President Shawn Price declared the company’s plans to dethrone Salesforce as the leading cloud computing software vendor by the end of the year and to reach a goal of $2.5 billion in revenue while doing so. Looking ahead, the company expects about 90 percent of its products and services to be offered as a cloud service as early as October.