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How Agile Monetization is Changing the Subscription Economy

• Jun 21, 2022

Agile_monetization

The SaaS market is experiencing an unprecedented shift in subscription services. There are a plethora of subscription billing models that drive higher subscriber retention. This shift is quite a buzz across the globe. SaaS players find that subscriber retention drives business scalability and acts as a catalyst for building a new growth strategy. It’s hence imperative to build robust monetization models and transform the ecosystem.

Defining an Agile Monetization Platform – MGI Research

The concept of agile monetization was defined by MGI research five years ago. An agile monetization platform enables subscription providers to sell Anything-as-a-Service (XaaS). It unifies the idea of selling services and products alike. Services selling creates experiences that are equivalent to owning products. For example, jet engine suppliers are now selling flight hours instead of jet engines. Even car manufacturers are seeing a similar trend – Europe is seeing the adoption of subscription-based car usage take off. Agile monetization enables a quick launch of new products and services and builds innovative revenue models. This global desire is exposing weaknesses in the existing processes and functional gaps of legacy enterprise applications, as explained by MGI Research. Watch this video by Andrey Dailey – Managing Director, MGI Research

What can Agile Monetization do for your Business?

A defining aspect of an agile and modern monetization platform is its ability to remove the hurdles for launching new products and services. This could be encouraging for progressive companies that are flexible and scalable, but may not be for organizations with legacy billing systems. Legacy systems lack flexibility and delay the launch of subscription-based products and services. On the contrary, API-driven ecosystems significantly enable agility and flexibility, reduce time-to-market, and push products to new market territories. In simple terms, cloud billing enables flexibility and reduces time-to-market, thereby improving efficiency. They transform billing systems by bringing agility and enabling in-depth functionalities and features. Comparatively, the historically expensive systems could not support configuration and integration. Additionally, change management in these systems was slow and costly.  As of late, small and medium-sized organizations can also leverage tools at competitive prices as large enterprises.  The era of cloud and agile-based solutions is gaining ground and favorability so, with those that previously relied on legacy systems. This is because they promise and deliver agile, quick-to-configure solutions that can rapidly implement solutions for companies of any size.  Want to learn more? The world of agile monetization platforms Take a look at a video outlining the advantages of agile monetization. Let’s talk more about agile monetization and how Evergent can help you reach your goals.

satish garikipati
satish garikipati
satish.garikipati@evergent.com

Satish Garikipati is the VP of Customer Development, heading the Global Solutions function that solves complex business requirements with innovative solutions. Satish has been working with media and subscription services companies across the globe for more than 20 years, helping them adapting agility into their subscription business.