Low volume enterprise software is effectively selling perpetual professional services for a company, with access/using a very specific proprietary tool. Selling the software is a lot like dating, the company buying your professional services wants to know who you are and how effective you'll be, before the commit to you for 3-5 years, maybe longer.
If you were just selling an API to a voice transcription service, that's great but there's very little economic moat and now you're in a Race To The Bottom with every other voice transcription API service out there. At least with professional services, there's options for customization and the revenue stream becomes more sticky.
If you were just selling an API to a voice transcription service, that's great but there's very little economic moat and now you're in a Race To The Bottom with every other voice transcription API service out there. At least with professional services, there's options for customization and the revenue stream becomes more sticky.