Subscription services have outpaced other services in major business sectors with a steep increase in subscribers and growth rates. This indicates the deepening of customer relationships with the service providers.
It was found that with subscription services, nearly two-thirds of subscribers felt more connected to the companies from whom they receive direct services. Major business sectors are planning to shift to subscriptions as they prefer the ability to pay for what they consume rather than a flat fee.
One such industry is the D2C manufacturing sector, which has shown promising growth with its substantial shift to subscription services and the pandemic as an additional boost to its business model.
SAP Subscription Business Management in Manufacturing
The manufacturing industry is looking for digital solutions to help it reinvent its business models and adapt to changing market trends. This solution must have the capability to single-handedly bring in all the requirements that are unique to each company.
For instance, the home appliances business would have benefitted a lot from subscription services throughout the pandemic period and continues to have radical growth. But the services offered by each home appliance organization must have some exclusive factors to make it stand out in the competition.
SAP Subscription Business Management provides solutions that are tailored to company-specific needs. These include customized recurring models for convenience and better perception of subscription services.
Why choose SAP Subscription Business Management?
- Flexibility in subscription packages- pay per use, time-based, and volume-based
- Scalable User Interface and User Experience.
- Manage subscriptions via API or self-service.
- Employ new business strategies through experimentations.
- End-to-end subscription services (streamlined O2C cycle).
- Flexible billing and invoicing without having to save the payment details.
- Enhance customer engagement and loyalty
- Recurring revenue stream
- Space for future innovations
- Increase turnover and enhance company profits
The D2C manufacturing industry could benefit significantly from subscription services offered by SAP BRIM. B2B manufacturing could utilize SAP subscription business management. This could help them focus more on product uptime and enhance the supply chain infrastructure. It could also help them expand their business across the globe.
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