Growing and established businesses across the world are now embracing the SaaS business model. The cloud-based tools are gaining more traction as the most effective alternative to the on-premise software and hardware development. A report by Computer Economics indicates that over 60% of companies utilize a section of these solutions in their day to day operations, with about 36% working to increase their investment in the subsequent months. These statistics emphasize the need to implement innovation in your growing business.
What is SaaS?
Also known as Software-as-a-Service, this is a system that offers centrally hosted applications and tools through the internet - but as a service. Instead of the long installation processes and expensive maintenance, you can access any tool via the internet. Due to the convenience it offers, it is now a popular method used to deliver business applications such as:
- Office communication software
- Accounting and payroll programs
- Customer relationship management (CRM) tools
- Enterprise resource planning tools
- HR management programs
Why SaaS could be the real deal for your growing business
Adopting a SaaS business model offers more advantages than using regular software installations within the premises. The most significant benefit is that you do not have to purchase, install, update, or maintain software or hardware. Instead, you can easily access them through the internet.
Here are more benefits of SaaS to small and medium businesses:
- Lower costs
SaaS software is sold through subscriptions, and you will find it more economical in the long run due to its multitenant nature. The subscriptions eliminate the hefty licensing fees that are paid upfront when acquiring on-premise solutions. Also, it allows your growing business to utilize efficient software that you could not get due to the high licensing costs. Finally, the system is inexpensive to maintain since it is only the provider who owns it and splits it among different customers.
- Flexibility and scalability
Adopting the SaaS model in your business also offers greater flexibility and is the reason why smaller companies have gotten a competitive edge over the older and slower competitors. Its prices are based on your usage metric, so you will only pay more if you are getting extra benefits from the product. Over time, you will be able to scale without the fear of paying huge upfront charges for a product that may not match your needs in the long run. Also, you do not need to keep upgrading your hardware regularly since your provider will handle that.
- Speed and ease of use
Selection, deployment, and implementation of the software model is easy with factors like effort and time stacked up. Since cloud applications are faster to deploy, your installation and administration efforts will be reduced. The quick deployment gives you a competitive edge while also increasing your ability to speed up the benefits to your business.
SaaS delivers excellent value to users fast, and companies can quickly implement changes when they need them.
- Less time to benefit
Buying the software and utilizing it are two different things. For traditional solutions, it may take you months or even years between licensing and readiness for use. SaaS tools, however, are cloud-based, and you can begin to benefit immediately. Usually, you will only be required to sign up using your name and email address to have instant access.
- A range of updated features
Using business apps with efficient features makes work more enjoyable, leading to high productivity among your employees. These tools can guide your team to make informed decisions instantly as opposed to traditional systems that heavily rely on upgrades. Since the provider manages the upgrades, you can focus on new capabilities while the functionality and security improvements take place in the background.
- Improved performance and time efficiency
The deployment time for SaaS solutions is less than what it would take with standard systems. Also, you can deploy the system across different regions, so you can avoid the expenses associated with the roll-outs. Furthermore, you do not require additional hardware, and you can increase the users without any hardware improvements. Also, the maximum network performance of the applications is adaptive to your requirements. With providers handling issues like availability, security, and performance, this should be a necessary improvement if you aim to grow your business.
- Higher adoption
The less time required to begin benefiting and the ability to use the tools from any location lead to increased adoption rates. If you see immediate benefits from this tool, there are high chances that you will stay engaged. Subsequently, a viral effect could take hold in your company, and the number of users can increase rapidly. Finally, some of these tools have their free tier, so your employees can begin utilizing the software without approval from any higher management.
Software as a service should be your next move if you are looking for solutions that can meet the requirements of your growing business. However, you may not realize all the benefits without the right knowledge. For guidance on how you can utilize cloud features, download this e-book for free.
Whether you need additional information on how to get the most of SaaS tools or want to request a proposal, feel free to contact us today!