This episode is sponsored by Binary Stream Software.

The thinking around service-based business models has moved far beyond traditional scenarios. Today, forward-thinking businesses in a range of industries are taking service-oriented (or XaaS) approaches that require all corners of the organization to embrace changes in process and technology.

Our guest, Khaled Nassra of Binary Stream Software, a global software and services firm focusing on subscription management, consolidation accounting, and lease administration, helps us unpack some of the reasons why subscription-based business models are succeeding today. We discuss recent research on the performance of forward-thinking firms compared to their traditional counterparts, regulatory pressures, and the technical fundamentals that make new subscription and service models possible.

Show notes:

•  1:30 - Describing the origins and concepts around a service-oriented approach to business
• 4:00 - What does the market really want in terms of a pivot to a service mindset?
• 5:30 - Research on subscription-based models and their growth potential
• 7:00 - The legacy vs new market potential for innovation around services and subscriptions
• 9:30 - Technical fundamentals of new business models
• 11:45 - The organizational support required for services-focused execution
• 15:30 - Key regulations for revenue recognition and financial management
• 18:45 - Microsoft's message on subscription-oriented models to the market and to partners
• 21:00 - How are partners adapting to offer more subscription-focused offers to clients?
• 23:00 - Recommendations on getting started with digital tools to support transformation

From Binary Stream:

Binary Stream is a global solution provider for Microsoft Dynamics 365 ERPs with over 20 years of experience supporting over 2500 customers. The company recently cemented its status as an expert in subscription management and completed a licensing agreement with Microsoft for its Subscription Billing Suite solution for Dynamics 365 Finance; and continues to develop leading services and solutions in the space. You can learn more about Binary Stream or get in touch with the team here.