The subscription (or "as-a-service") business model came to the forefront with cloud-based software licensing. During the COVID-19 pandemic, customers fully embraced the as-a-service model, with subscriptions for digital media and entertainment, education, software, and consumer goods seeing growth. In April 2020 alone, subscriptions saw a peak weekly growth of 85 percent with the weekly data staying above 60 percent the entire month. In an October 2020 survey, 62 percent of companies said they've responded to an increased demand for online interactions and services. And more than half of respondents (53 percent) believe the change will stick after the pandemic subsides.

To ensure a return on investment, CFOs and their teams are an essential part of decision-making for new business model innovation. The finance team must evaluate lines of business, geographies, and products to shift to the most profitable investments. But assessing the performance of a subscription service is not the same as evaluating traditional products and services. Finance needs new measurements and new tools.