Over the last few weeks and months, we’ve been watching the updates from Oracle and it now appears that the company is in fact sunsetting its commerce solution, Oracle Commerce Cloud.
And the big question for retailers that have been using the platform to sell their products, engage with their customers and offer personalised experiences, is what now? What does it mean for the future of their business? And could it be an opportunity in the making?
So, what is the latest news from Oracle?
Oracle Commerce Cloud was recently named a leader in the 2022 Forrester B2B Wave and won 11 medals in 12 categories of the 2022 Paradigm B2B Enterprise Combine. It is a strong product that serves B2B commerce extremely well.
But not for much longer. The platform will still exist, but there will be no new product development and no future roadmap, which seems to end abruptly. You may remember when IBM discontinued WebSphere a few years ago, but this was sold to HCL Commerce which offered a solution for existing customers. For Oracle customers there currently is no soft solution such as this.
And in the B2B sector, this is something that will put businesses at a key disadvantage. B2B commerce relies on innovation even more than B2C commerce, meaning a B2B platform will lose its edge if the provider isn’t 100% committed to driving innovation.
It’s therefore key that businesses look to providers that demonstrate a foundational commitment to eCommerce. Something which is clear Oracle no longer has.
What are the drivers behind the decision from Oracle?
We don’t yet know the whole reasoning behind Oracle’s decision, but the organisation’s existing portfolio is likely a heavy contributing factor. Currently, Oracle covers ERP, CRM, SCM and many other technologies. Commerce was only a small part of the portfolio for Oracle and clearly isn’t a priority.
For many people, it seems a strange decision. It was a market-leading product with a wide range of customers. Customers who will now be asking key questions about what comes next for their organisations.
What are the options for businesses?
Re-platforming is the first option that businesses have, and it’s a sensible decision to take.
For example, BigCommerce offers a B2B edition whilst the open nature of the platform also means that you can create additional functionality around its core offerings. The customisable nature of HCL Commerce on the other hand makes it an ideal fit for a bespoke B2B solution. And these are just two of the many possibilities.
It makes sense that re-platforming would be top of the agenda, but would a simple switch to another platform mean businesses are actually missing out on an opportunity? It seems a strange thing to say, but we believe it to be the case.
How can businesses turn this hindrance into an opportunity?
For businesses to succeed in the online retail world – whether B2C or B2B – they need commitment. Yes, this translates into using a platform provider with a foundational commitment to eCommerce as we’ve already mentioned, but it also requires a commitment to innovate from the business itself.
Which is why we truly see this as an opportunity. If your existing platform provider is ticking along and providing new updates with a thorough roadmap in place, it’s easy to just coast along yourselves. And for us, simply coasting along is the antithesis of innovation.
For businesses currently on Oracle, this is a timely opportunity to look at the full digital ecosystem and leverage a lot of the capabilities that have come about in the last couple of years. It’s a time to consider where the weaknesses are in their current offering and look at where technology can plug the gaps. If your business finds itself in this situation, there’s never been a better time to modernise and digitally transform your organisation.
Whether that’s through upgrading your enterprise resource planning (ERP) capabilities, looking into blockchain for transparent supply chains or using AI to automate inventory management. There is so much technology available now that can create market-leading solutions for your business and help you innovate for the future. Looking critically at your organisation in this way is the first step to building your competitive advantage.
It’s time to take that opportunity
The world of eCommerce never stands still, and businesses can’t afford to stand still either. Now is the time to take the opportunity to innovate.
At DeeperThanBlue, we specialise in B2B eCommerce, helping our clients to better serve their customers and stay ahead of the competition. Get in touch with one of our specialists today to discuss the future of your business.