The “subscription economy,” in which pay-per-product companies are transitioning to subscription-based business models, has transformed the ERP software industry . Software as a Service (SaaS) as a percentage of total enterprise software revenue rose from just 6% in 2010 to 75% in 2018 , totaling more than $380 billion annually. These days, the subscription model has spread well beyond software to a wide array of other industries, from airlines to health and wellness. What's less appreciated is how the subscription economy can be weaponised against sales teams that fail to adapt to the changing landscape. The results of a recent EY study show that only 55% of respondents feel their businesses are ready to shift to the subscription model. Respondents were concerned their sales teams lacked the talent, skills and infrastructure needed to successfully sell their products on a subscription basis. No department within a company will be more affected by th...
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