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Productizing a service: Making a recurring revenue business model…a reality

Date: Thursday, November 1, 2018 Date: Thursday, November 1, 2018 Time: 07:45 - 09:15 Location: Gusto, 16 Bothwell St, Glasgow G2 6NU

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Productizing a service: Making a recurring revenue business model…a reality

The recurring revenue business model is the dream many service-based companies strive for. At our November Communications Breakfast, we welcomed business owner and 2018 Glasgow Business Entrepreneur of the year Andrew Duncan, who’s doing just that with his technology company SwarmOnLine.

Andrew is making this a reality and pivoting SwarmOnline, from service to software as a service and at the Breakfast shared his approach on how to achieve this.

Like anything else in business there are always challenges in making change, especially those that affect our customers and how we pitch our business to them. Andrew started SwarmOnline from his living room just 6 years ago, a business which has grown rapidly to become one of the leading App and touch screen technology companies in Scotland, working with organisations including Shell, Clydesdale Bank, NHS and Panasonic.

Andrew and his team have created an App for use by Credit Unions to help them and their members manage their accounts; 80% of all banking transactions are predicted to be carried out via Apps in the near future. The business model, launched through Andrew’s new start-up company ‘CU Soar’, is to license each user of the App thus raising funds to pay for set up and development moving forward. This approach avoids big up front costs for the customer.

Andrew, a self confessed ‘geek’, entertained the audience with his journey from developer to business owner and Entrepreneur. During his journey Andrew has also lectured at a prestigious tech conference in Silicon Valley as the only UK speaker. He has also written two textbooks that are used as technical bibles by developers around the world. Andrew has completed a number of acquisitions including buying over a struggling deli. He also explained about the parent company he has set up to oversee his various business ventures.

Andrew closed on the benefits of surrounding yourself with the right people and skillset to collectively deliver successful projects.

For information on SwarmOnLine and to contact Andrew Duncan:

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