Drivers and Benefits of changing the Business Model
Hardware technology companies that have started offering software based revenue models are already reaping substantial benefits. 94% see an increase of 11% in revenue on average. They expect further growth in the next five years, with the revenue from software projected to rise to 18%. These changes are also having a positive impact for employees. From the companies that have started changing their business models, 64% retrained their employees, 58% hired new ones and three in five intend to reshuffle employees into different roles.
While it may bring substantial benefits and new opportunities, changing from a hardware-based to a software-based selling model isn't without its challenges.
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