Cloud computing is one of today's most disruptive technological trends, and because of it, a number of industries are reinventing themselves, improving business operations and cutting IT expenses. The software market, for example, is transforming from traditional point-in-time sales to subscriptions offers because decision-makers see the value in delivering software over the Internet, according to a Business Insider report.
Traditionally, companies were forced to purchase software updates and licenses every few years to continue using innovative tools, the news source said. By leveraging cloud computing, software providers can utilize an online, subscription based business model to deliver the most up-to-date software over the Internet to their customers.
As a result, IT departments don't need to waste time searching for and installing upgrades. Instead, they can access next-generation applications through a payment method that will likely soon become the way all software is purchased, Business Insider noted.
Software providers are also leveraging a pay-as-you-go pricing model. This allows decision-makers to only pay for the software and services they use, meaning companies will no longer need to invest in licenses for legacy systems that are hardly ever used. Software providers benefit by providing exactly what customers need when they need it.