Term
Monthly Subscription
For Software as a Service applications or other cloud applications that are ready to use, many times these technology solutions are provided to the users on the subscription model. In a subscription, one does not own the product, but one gets to use the product for a certain fee that is recurring every month.
Apart from monthly, the subscription can also be quarterly, 6 monthly or annually. Apart from the fixed fee, some applications also charge for the number of users or number of log-in accounts that are created to use the system. The major benefit of subscription for customers is the reduced cost of the ready-to-use solution that does not require major preliminary investments.
