Project management software and productivity tooling is a huge, competitive market to be in. And it’s growing and predicted to be worth a whopping $122.7 billion by 2028 .
Until recently, growth by companies in the industry has been achieved mainly by product-led growth (PLG) . That is, by targeting individuals, professionals, and small teams and allowing them to sign-up and purchase access to the product through a self-serve checkout on your website.
But as SaaS adoption continues to increase in the wake of the pandemic, IT and SaaSOps (and finance) teams are getting a little savvier. They’re waking up to the fact that each team signing up to - and paying for - separate sets of tools isn’t efficient – for budgets or collaboration.
As companies look to consolidate the 110 SaaS apps they use on average , 56% now only use one project management software (PMS) .
So, how do you make sure that your tool is the one that survives the cull?
Well, there’s something that helped the Miros and Mondays of the PMS world stand out – and that is hybrid billing.
In this article, we’ll take a look at what hybrid billing is, why it’s the secret sauce for project management software, and how to implement it in your business.