Why is XaaS Transforming Business Models?
XaaS simply refers to “anything-as-a-service,” such as software-as-a-service (SaaS) or device-as-a-service (DaaS), where products and services can be purchased in a subscription-based “pay as you go” model. The advent of digital transformation, where more people are turning to digital technology to solve traditional problems, is only increasing customer demand for as-a-service offers.
If you’re looking to keep up with customer demands while growing profitability, TSIA recommends embracing XaaS business model transformation with subscription offers that are anchored on helping customers achieve specific business outcomes. When supported by a customer engagement model that cost-effectively drives the adoption, expansion, and renewal of customer contracts, you can make the shift towards including subscription offers as part of your broader portfolio.
No matter what kind of technology or services business you work for, your world is changing. The way in which you will grow your revenues in the next 3-5 years will not be the same as you have done for the last 30 years. Are you prepared to adapt your business as you know it so that you can continue giving your customers what they want?