Home topics technology Cloud Datacentre Security Cloud Resolving customer data management issues enables SMEs to evolve their business model Andre Durand April 5, 2017 Accelerated change is the new normal, and for businesses, the rate and the scope is staggering. Not only are organisations dealing with quickly evolving technologies, they’re racing to keep up with shifting customer behaviours and the lightening-fast pace of industry disruptors. To thrive in this environment, many industries are looking at innovative ways to invigorate their business models. Let’s take a look… Software companies are employing subscription models The technology industry in general is moving from one-time product sales to subscriptions. While software immediately comes to mind, particularly enterprise software, the trend also encompasses physical technology products, like ink cartridges for connected printers. This model is convenient for the customer and it affords businesses the agility to quickly respond to customer needs and keep products updated. Financial services companies are offering mobile payment services Banks and lending institutions are rapidly adopting the mobile payment model. Customers no longer need a card, cash or cheque book. All they need is their smartphone. What’s more, financial service companies aren’t the only ones jumping on this trend. Retailers, like Starbucks, Amazon and other non-financial companies recognise the opportunity that mobile payment presents to grow their brand, increase loyalty, and generate revenue. Healthcare companies are building interactive customer portals Healthcare providers are launching new digital channels to improve care and enable more patient participation in their own health management. In