Preparing your business for the subscription economy

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Today’s businesses seek convenience, flexibility, value and control, and their purchase patterns are shifting accordingly – moving away from buying to renting and subscribing to business solutions. This has given rise to the ‘subscription economy’, a frequently used buzz-word in which a customer pays a subscription fee to have access to products and services for a given time period, opposed to paying a one-off transaction fee for ownership.

Although the subscription economy is not a new concept, it has experienced a strong increase in adoption within the B2B environment in the recent years – businesses can now subscribe to a wide variety of offerings, ranging from manufacturing equipment to media to transport solutions and cloud software. But why, you may wonder? Subscription-based solutions offer clear benefits – they provide a high degree of flexibility and scalability, where businesses can choose, change, upgrade, renew and opt-out of subscription plans at any given point, allowing for a high-degree of control and visibility. Subscriptions also reduce financial risk, where subscription costs are spread out over multiple payment periods, instead of having to fork out a large one-off payment – enabling your business to also spend on other important things.

Businesses expect personalised solutions– in the subscription economy they are actively involved in self-selecting the level of subscriptions, tailored to their needs and objectives. Also, in a dynamic business environment in which products and services are constantly developed and modernised, subscriptions offer value as they allow for the use of cutting-edge products/services without having to worry about technological obsolescence – imagine not having to worry about buying the latest version of office suite software, and always having access to the newest features and versions.

Vodafone offers a range of subscription-based software-as-a-service (SaaS) apps, where you can self-select from a range of cloud-based SaaS apps, paying only for what is required for your business through a pay-as-you-go subscription model. Being cloud-based, your business can truly embrace the ‘always-on’ philosophy, as employees can access these apps from anywhere, 24/7, using any device. You will always have access to the latest and greatest technology with world-class security, and no longer have to worry about the costs of software obsolesce. All of this from one place in one bill, along with the best network and tariffs for your business.