Oracle (ORCL Quick QuoteORCL - Free Report) recently introduced Oracle Utilities Agent Service, a cloud application specifically for utility customer service teams. Agent Service combines Fusion CX and utility applications to improve customer service while boosting sales.

It brings billing, usage, and interaction history together in a single dashboard to provide agents with a holistic view of each customer.

Combined with new AI-powered tools that guide agents to the next best action, the application lets agents see how customers are interacting with the utility across all available service channels, including phone, web, email, chat, and SMS.

Agent Service is the latest offering in Oracle Customer Experience (CX) for Utilities, a suite of integrated customer experience and utility-specific cloud applications for billing, rating, payment processing, collections, advanced metering, and energy efficiency.

Oracle Corporation Price and Consensus

Growing Demand for Cloud Offerings to Aid Top-Line Growth

Global cloud adoption continues to expand as business models transform and the demand for secure remote technology accelerates.

The company’s software-as-a-service (SaaS), infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) products are likely to grow strongly over the next few years as enterprises rapidly migrate to the cloud environment.

Oracle’s performance is also gaining momentum across the cloud business, driven by the strong uptake of OCI services and Autonomous Database offerings. The healthy adoption of cloud-based applications, comprising NetSuite Enterprise Resource Planning (ERP), Fusion ERP and Fusion Human Capital Management (HCM) bodes well for the long term.

This Zacks Rank #3 (Hold) company is focused on upgrading and expanding its cloud solutions portfolio to keep up with the rising demand. Oracle shares are down 19.2% year to date compared with the Zacks Computer – Software industry’s fall of 22.8% and the Computer and Technology sector’s decline of 27.1%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

An expanding clientele is enabling the company to maintain its leading position in the cloud ERP market. Management is optimistic regarding the latest Oracle Fusion Cloud ERP, HCM and Enterprise Performance Management ("EPM") applications. The company’s HCM and ERP clientele base also include Morgan Chase, Santander, Bank New York Mellon, HSBC, Lloyds, Macquarie, Credit Suisse, UBS, Credit Agricole and many others.

Apart from Oracle, the HCM space is dominated by the likes of Workday (WDAY Quick QuoteWDAY - Free Report) , SAP SE (SAP Quick QuoteSAP - Free Report) and Automatic Data Processing (ADP Quick QuoteADP - Free Report) .

SAP’s SuccessFactors Solutions’ suite is the mainstay of the company’s HCM solutions. Last year, the company added a new cloud-based solution— the SAP SuccessFactors Time Tracking — to the SAP SuccessFactors Human Experience Management solutions’ portfolio.

Workday’s top line is being driven by high demand for its HCM and financial management solutions. Some of the notable HCM deal wins for Workday include Novartis, DraftKings, and CTBC Bank.

Automatic Data Processing is one of the leading names in the cloud-based HCM solutions space. The company has expanded its footprint in the HCM market through multiple acquisitions that include Celergo, WorkMarket, and The Marcus Buckingham Company.