Yes! Has never been more urgent in the ability to adapt and stay agile.
The COVID-19 crisis has fundamentally changed the way we live and work.
This new reality demands flexibility and transformation like few other moments in history. And this requires accelerating the speed of business.
A reinventive pace of business that keeps you ahead of ever-changing customer expectations, blurring lines between industries, and volatile economic conditions is needed to thrive.
You need to continuously adapt your existing business models and experiences in order to stay ahead of the competition and deliver differentiated value to customers.
Then came the introduction of recurring revenue business models, which have now expanded beyond consumer markets across nearly all industry verticals.
This is because recurring revenue models allow companies to build a loyal, long-term relationships with their customers.
Recurring revenue business models include:
- Subscription services
- Products sold through subscription models
- Project-based services sold through a consumption model
- Project-based services sold through fixed-fee models
The introduction of recurring revenue business models has blurred the lines between and within industries, making it harder to identify exactly what grounds you’re competing on.
Also, a few industries are embracing change:
Professional Services, Financial Services, Healthcare, Manufacturing, and Retail.
By 2023, organizations that have adopted an intelligent composable approach to business applications will outpace the competition by 80% in the speed of new feature implementation.
The ability to adapt and stay agile start here!