Subscription services are increasingly popular both among businesses and consumers. This trend was already emerging pre-pandemic. Subscription boxes, Netflix, etc. Even Amazon is now offering a recurring subscription model for many of the products you can purchase as opposed to a one-off buy.
Consumers enjoy it because it’s convenient and takes repeated shops off their plate. Businesses love it as it guarantees a more predictable steady income.
However, the pandemic did rapidly increase the popularity of this subscription model. It was far easier to utilise subscription services when you could not go out and buy the services.
So, across the board subscription services became more popular. DaaS (Device as a Service) particularly benefitted from wider recognition and usage due to the pandemic and more specifically lockdowns. The Device as a Service market is predicted to be worth $303 billion by 2026!
The reason that this kind of subscription model is having a golden era is because businesses and workers needed swift access to different types of hardware. They also required more remote support for their devices beyond what their in-house IT teams could feasibly muster in such unprecedented times.
The reason why DaaS is such a powerful tool for businesses during the pandemic and beyond is because it provides flexibility and security in uncertain situations.
No normal business challenges had provided companies with so much uncertainty as the pandemic. They didn’t know when restrictions, lockdowns, or the call to work from home would occur. When this did happen, the change was complete, sudden, and jarring, giving businesses little time to put contingency plans in place.
Those who already used the DaaS style subscription model for their hardware found themselves in a privileged position. They could quickly swap their hardware to more portable, work-from-home friendly devices, get them deployed quickly and set up remotely at the click of a button.
Why DaaS Is More Than A Lease
DaaS isn’t merely a lease since it comes with extensive support as part of the subscription. For those already utilising DaaS during the pandemic, those businesses could be supported with cyber security and with configuring each device for each employee.
The result was far more flexibility, security, and productivity in the wake of a disaster that was making everyone else unproductive and stuck.
The cyber security aspect was an especial boon, as increased home working brought more business cyber security breaches.
How Could DaaS Help Businesses Generate Growth?
A lot of the known benefits of DaaS focus on its financial benefits, operational benefits, and situational benefits.
It is true that some of the big advantages are:
- Spreading the cost of hardware – Financial
- Tax benefits – Financial
- Greater productivity – Operational
- Upgrades to the latest tech – Operational
- The ability to swap devices – Flexibility
- Greater ability to react and shift operations to changing circumstances – Flexibility
However, DaaS can also actually help businesses generate growth. This is because it removes the burden of sourcing and managing hardware from your IT department. This allows them to focus on profit-driven projects.