Why SaaS has become the Go-to Option to Build a Digital Ecosystem?
Software-as-a-service or SaaS, as it is known, is a cloud-based software model that allows for a licensing or a subscription model where users access their organization’s data from any device connected to the Internet.
With more sectors gradually adopting technology into their systems to boost operational efficiency and to bring about a structure to their processes, SaaS capabilities are also being tested and pushed beyond our imagination. SaaS platforms are being designed to accommodate the increasing requirements of enterprises as they attempt to solve a new challenge every day. Businesses are transforming digitally, and SaaS solutions are helping in the process by creating an adaptable and flexible environment that is profitable to both the enterprise and to the end consumer.
Here’s why businesses should leverage this cutting-edge technology and drive towards excellence:
1. Planned Outsourcing- At a time when businesses are required to address several business challenges and opportunities on a daily basis, it is sensible to assign a sizeable portion of the work to a vendor who specializes in developing a technology infrastructure that supports business operations without any hitch. This helps the company to focus on core business processes more efficiently, without having to worry about intricate IT requirements.
2. Configurability and Cost-effectiveness- Due to the explosion of SaaS services within the last decade, it has now become convenient for businesses to choose a solution that can easily achieve specific industry goals within the apportioned budget and integrate the same with the existing digital system.
SaaS solutions being customizable, also enables businesses and enterprises to add extra features that can be readily plugged to the current processes and focus on a “mobile-first approach”. Since SaaS are based on subscription models, businesses can dodge pricey commitments to on-premise software packages and hosting, and instead, opt for pay-as-you-go (PAYG) model.
3. Favourable Data Storage- In this era of big data, organizations of numerous verticals collect and store high volumes of information assets, in the form of numbers, text or images and videos, for further processing. To put things into perspective many small and medium enterprises are making the switch to public cloud services provided by SaaS vendors who can effectively manage Big Data storage and computing.
A report by Gartner forecasts the growth of the worldwide SaaS market at 17.8 per cent in 2019, amounting to a sum total of $85.1 billion, as compared to $72.2 billion last year.
4. Sustainability- The notion of sustainability is composed of three pillars: economic, environmental and social—also known as profits, planet, and people. SaaS solutions in a similar way are cost-effective that empower businesses to be more goal-driven and productive; they conserve energy and resources that are otherwise futilely spent on organizing and managing an IT infrastructure setup.
SaaS platforms have undoubtedly become a game changer in the last few years. Currently, several companies of different sizes and verticals are starting to see the potential in SaaS to make their business more profitable. By integrating an effective SaaS platform, user-experience can be made more fluid responsive, internal resources are being better managed, and the possibilities of business expansion are multifarious.