My mantra is that it’s all about service. I don’t really care what technology you use to deliver the service to me. I am only interested in the service and I will pay you money for the service.

From a consumer perspective, the as-a-service model gives me the opportunity to pay now only for what I use. Usually that means it’s a lower initial cash outlay. I don’t have to pay for the whole product. It’s very convenient. I buy the outcome.

It also enables what people are calling the sharing economy. The Uber rides where you can split the cost, the food bills where you can split the cost.

For the organisation, for the supplier, the provider, potentially, it’s higher customer lifetime value because there’s a greater stickiness to the customer relationship. Once you’ve bought into paying for something on a monthly basis, let’s say, it’s easier to stay with that and not move to the next providing organisation.