Adapting subscription services to the industrial market to improve customer engagement and solutions

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Marcellus Buchheit, President and CEO of Wibu-Systems USA, spoke with Scott MacKenzie, host of the Industrial Talk podcast, at the Q1 meeting of the Object Management Group in Reston, VA, USA. Marcellus offered interesting insights into subscription-based services, drawing a parallel between consumer-based subscriptions like those presented for products at the Consumer Electronics Show and similar business models in the industrial and medical world. For example, Marcellus pointed out the advantages of a subscription service for an expensive medical device, which allows the healthcare provider to avoid the heavy upfront costs of the system and pay only on a monthly basis or a usage basis. He also noted that it is advantageous for both parties to maintain ongoing engagement to keep the system up and running as it should for the service provider while continuing the revenue stream for the manufacturer.