Asset-as-a-Service (AaaS): or pay-per-use is a usage-based financing model and therefore a form of leasing. As with leasing, ownership of the asset is not transferred to the customer/user in asset-as-a-service models, but remains with the manufacturer. The advantage: the customer/user does not pay a fixed leasing instalment for ownership of the asset, but only pays when they actually use the asset ("pay-per-use”), thus protecting their liquidity. This gives the customer financial flexibility. Billing can be automated by networking with the manufacturer's Internet of Things (IoT) platform. To ensure that the manufacturer does not have to bear the sole risk in terms of utilisation and profitability, it uses financing partners. (Publication date 01/09/2021)