Companies of all sizes across the globe are embracing Software as a Service (SaaS) business model for their operations. According to forecasts, the global SaaS market will grow by $60.3 billion between 2019 and 2023, with SaaS organizations now operating in over 100 countries.
With the help of marketing consultants for SaaS providers and businesses constantly evolving the way they operate, the integration of SaaS in enterprises is likely only to grow further.
But what exactly is SaaS?
If you’ve been looking for ways to automate your operations, you’ve probably seen or heard SaaS mentioned. Simply put, it is a cloud-based service that allows you to access the applications you use for your daily operations via an internet browser instead of a piece of software downloaded to your computer.
This type of business model has many benefits for businesses. We list them down here:
1. Low Installation and Maintenance Cost
With SaaS applications, you will save on software installation and hardware procurement costs since they’re cloud-based. Even the cost of supplies like paper, printing, and physical storage, which all add up, reduce with the use of SaaS. And because there aren’t software and hardware to maintain, your business’ IT budget can considerably go down.
What’s more, SaaS providers offer the use of the application on a subscription basis, so you only pay for applications that you use based on your business’ needs. You and your team can also use an application without the individual product license fee you need to pay with the installation of traditional software.
2. Compatibility Across Multiple Devices
Mobility is essential in workplaces today, which means that applications that allow you to work on a project on one device and access that project’s files on another are extremely helpful. This is why more and more businesses are switching to a SaaS business model. The applications your company is using are compatible across multiple devices, as long as these devices are connected to the internet.
3. Automated Updates
Technology develops rapidly, with applications updating frequently to keep up with users’ demands and security issues. With traditional pieces of software, you would have to disrupt normal operations to update and reinstall them before you can continue your workflow. SaaS applications, on the other hand, update automatically, keeping them running smoothly and securely, and compatible with whatever device you use to access them.
4. Flexibility and Scalability
As previously mentioned, SaaS platforms are cost-effective, accessible, and full of benefits, all of which help a business grow. As your company sees growth, your operational needs will evolve, too. The good thing about SaaS applications is they are flexible and scalable to suit your ever-changing business needs. If you need to increase the number of users of an application, expand your data storage, or access premium features you didn’t need before, all of these are possible with SaaS.
These show that a SaaS business model provides you with endless opportunities for business expansion. If you want a solution that meets your organization’s performance, security, and cost-efficiency requirements, SaaS applications are worth considering.