Hardfin guide to HaaS operations
Effective hardware-as-a-service models connect eight operational areas. Every HaaS business takes a bespoke approach on this foundation.
Solution definition
Define equipment, software, services, and bundle offerings.
Ex: automated forklift, robotics subscription, maintenance plan.
Subscription plans
Develop pricing plans and manage active subscriptions.
Ex: flat-fee, fixed monthly, pass-through, usage-based billing.
Asset tracking
Track individual assets and activity in the field.
Ex: Forklift #123 in Warehouse A, Robot #456 with Customer B, return process.
Billing
Send invoices and reconcile payments.
Ex: one-time, recurring, ad-hoc, bank transfers, cards, fee management.
Accounting
Automate complex accounting for hardware subscriptions.
Ex: ASC 842 embedded leases, ASC 606 revenue recognition, asset depreciation.
Funding
Connect to a funding facility to cover cost of goods up front.
Ex: asset-backed loan to cover the BOM in advance.
Business reporting
Report on analytics for hardware subscriptions.
Ex: recurring revenue, churn, utilization, availability, quality, service.
Integrations
Keep business systems connected to ensure consistent data.
Ex: CRM, ERP, accounting system, IoT data, and proprietary dashboards.
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