Overcoming the Transaction Management Challenges in the On-Demand Services Market
Presented by Aria and THINKStrategies
For many years, economists have been suggesting that the world is moving from a manufacturing to a services economy. In recent years, it would be more accurate to say that we have been moving from a product-centric to an on-demand services economy.
Everywhere you look, new forms of 'on-demand' services are popping up. These ondemand services span the entertainment industry, from on-demand music services pioneered by Apple's iTunes to on-demand video services popularized by YouTube. You can buy books on-demand from Amazon or start a business on-demand at eBay or Yahoo. And, you can find almost anything else on-demand at Google. Ondemand services have already transformed the gaming industry from console-based play to online "experiences", and the same is expected to happen in the software industry.
At the same time, users of these services are increasingly accessing them via mobile devices rather than traditional desktops or television set-top receivers. This is creating a virtuous cycle in which more powerful mobile devices are creating greater demand for more on-demand services.
While these trends are producing exciting new opportunities for entrepreneurs and established players alike, they are also creating a new set of business challenges. Customer loyalty is becoming more tenuous as competition escalates. Easy access to services also means easy abandonment when the "fit" is no longer right. Customer 'churn' is, perhaps, the biggest concern of on-demand service providers.
In the increasingly price competitive on-demand services market, the accuracy and efficiency of a service provider's transaction management capabilities can mean the difference between success and failure. Although registering and billing customers may seem simple and easy, it is neither in a rapidly growing market facing the realities of the on-demand marketplace.
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