Benefits of a Subscription Model with Peter Critchley

So looking at all existing clients and looking at the benefits of moving to a subscription service, the thing that we do look at, we're looking at two sides. We look at the benefits to the customer and the client and we look at the benefits for the business.

For example, in the veterinary industry, you know, every time you go into your vets, if you're a pet owner that you can get your wallet and you can turn it upside down, you know, you're expecting that. But if you knew the cost and it was a fixed cost, that was it, then that gives you some form of assurance.

You can budget for it. You do it on a mobile phone, you can do it for personal health care. What would you do for your pet? So I think for a client or for a customer, I think it's a fantastic opportunity and a fantastic product because you pay your monthly subscription and actually a lot and everything else is included for a business. The annual recurring revenue line is where the benefits come from.

You know what that annual recurring revenue is, you can predict your revenue and you can calculate your cost against that because there's always a, you know, customer and customer income ratio, which is very consistent generally. But you could probably make that more efficient because you know what your revenue is so therefore you can resource correctly, for example. So it would be more to do with predicting the financials.