Many OEMs in Industrial Equipment domain are moving from product selling model to outcome-based model, where equipment is leased out to customers based on either production-based selling or outsourcing. This new business model is called Equipment-as-a-Service (EaaS) or Product-as-a-Service (PaaS) model. In this whitepaper, we will discuss the impact of PaaS business model on OEM’s existing operations and understand how OEMs can reap the benefits through the adoption of the PaaS proposition.