You already know that as a Service (aaS) refers to a business model where companies provide a subscription-based service, rather than selling a physical product. We’ve talked about the use cases, challenges and customer experience (CX) considerations. Now it’s time to explore the future of aaS.

Driving growth

There are several key ways that aaS will drive growth for industries across the globe. Here are just a few of the key focuses when it comes to the benefits of aaS.

We see artificial intelligence (AI) and machine learning as game-changers and are excited about the benefits they could bring to aaS models. When aaS is integrated with AI and machine learning tools, it can enable businesses to automate processes, make better data-driven decisions and deliver a personalized CX.

Cybersecurity risks remain at the forefront across industries and markets. In an increasingly digital world, protecting against cyberthreats and data breaches is paramount. We anticipate a more proactive approach to cybersecurity in the aaS space, with firms leveraging advanced technologies to predict and prevent attacks.

AaS models are all about productivity, too, making your teams more efficient by providing optimized technology solutions that allow you to gain less costly access to new markets and boost revenue. With Software as a Service, teams can access software on a subscription service and avoid having to install and maintain the software locally. In Banking as a Service, nonfinancial brands offer banking services without having to stand up a bank operations department. By partnering with a financial institution, they can work more efficiently and collaborate on features, which reduces time spent on operational management.

Evolutions

With so much at stake, how will aaS evolve to meet the ever-changing needs of your customers? Some evolutionary directions are clear.

As we look ahead, sustainability is another area where we expect aaS models to make a significant impact. Many firms are focusing on green energy and environmentally friendly solutions. Offering services in a more sustainable way not only aligns with consumers’ values, but also contributes to a healthier planet.

We’re also predicting an increase in cross-industry collaboration as diverse sectors come together to create platform ecosystems that cater to a variety of needs. This trend opens opportunities for firms to expand their services and reach new customer segments.

New opportunities

In the end, aaS models offer opportunities for growth and innovation. Whether it’s expanding into emerging sectors or finding new ways to serve customers, the possibilities are endless. And the best part? It’s a win-win as firms leverage aaS to boost their own success while customers benefit from enhanced services and experiences.