This digital business model enables another form of use of an asset (e.g. software, automobile or machine). It is no longer the possession, but the consumption or use of an asset that is monetarized. Digital technologies make it possible to measure consumption or usage. In the field of car sharing, for example, both the rental and the return as well as the kilometres or miles driven are billed. In the case of machines, payments can be made, for example, according to the operating time, the number of units produced or other data retrieved from the machine.
Digital business models based on the “use instead of buy” principle can help companies to reach new target groups (e.g. those who have been reluctant to invest so far) or to remain competitive and to offer customers an attractive digital business model before potential competitors do so.