Why pay-as-you-go models are beneficial for businesses right now

Options that flex around your business.

Right now, things are a bit uncertain (to say the least) so it’s natural if you, as a business, have some reservations around commitment. This year has brought a lot of changes and if anything, it has shown us just how essential it is to be flexible

In a pre-Covid world, businesses had a lot of long-term commitments on their plates — from offices, to teams, to subscriptions. And I’m not saying there isn’t a benefit to that, there absolutely is and I’m sure that when things eventually go back to normal we’ll see more of that returning. But what do businesses do until then? 

Pay-as-you-go models are pretty self-explanatory; you pay for what you use. No more, no less. An example would be, hot desking, or getting help from our virtual experts who can offer support only when you need it. This way of working can be hugely beneficial for businesses right now and here’s why…

Go with the flow

Sometimes business is busy. Sometimes it isn’t. Sometimes a job requires that one piece of software. Other times it doesn’t. 

No two days are the same when it comes to running a business, so why are some systems so rigid? With a pay-as-you-go model you can flex what you use, around what you really need

Cancel anytime

Hit the breaks! We need to press pause on a few things. Sh*t happens (uhh like a global pandemic) and when it does happen, a business has to go into survival mode. That means bringing everything back to basics and spending as little as humanly possible. 

You know what makes it hard to reduce your expenses quickly? Cancellation policies. You don’t get those with pay-as-you-go models. 

No contract

Contracts aren’t a bad thing — they often make things more secure for you and the other party in the long run. However, contracts often come with terms and conditions which make it more difficult to pivot when you need to. With pay-as-you-go, things are pretty simple — you just pay for what you use. 

Set your own limit

There’s a common misconception that pay-as-you-go models can result in some unexpected spending (remember when your parents would tell you off for that broadband bill?). Well, thankfully, things have changed — you can still have the predictability of contracts and subscriptions if you set yourself a limit. This can either be done on your side, or you can ask your pay-as-you-go supplier to give you a nudge when you’re starting to edge close to your budget. 

Say goodbye to forecasting fear

To anyone reading this who deals with financial forecasting, I salute you. You’re probably looking at last year’s forecasts and thinking ‘well, I certainly didn’t predict this’. We all didn’t. 

Working with pay-as-you-go models can take a lot of pressure off a business’s finances — because they can be step-changed at any second.  

Know what you really need

When you’re paying for the exact time you use, it simultaneously gives you a tonne of insight. The more you work with a pay-as-you-go model, the more you’ll decipher a) how much you need that support/tool/office b) how often you use it c) what can be done in-house and what definitely needs outsourced. 

Prep for the transition period

Some day in the future, things will go back to normal. When they do go back to normal, it’ll take time for you to build up all the processes, subscriptions and teams that you might’ve had before or now require. Pay-as-you-go models help you to cruise through that transition period, until you’re up and running as you’d like to be. 

I think one of the biggest misconceptions of running a business is that it’s all or nothing. You either hire a team or you don’t have any support at all. You work from home, or you tie yourself into a 10 year contract for an office. When really, it doesn’t have to be that way. With pay-as-you-go models, like what we’ve built with ibLE, you can have the best of both worlds when you need it. And why not? 

With our ibLE experts, you only pay for the support you need. No contracts. No small print. Want to get started with your virtual team? Get in touch