Technology is all about innovations, and SaaS or Software as a Service, is perhaps the most innovative solution to maximize business productivity while saving on operational expenses. In a nutshell, SaaS is an example of cloud computing wherein software becomes ready to use without installing anything on a computer. Contrary to what one may immediately think, SaaS is not a simplified version of the software but rather a more accessible model. Cloud storage can be accessed anywhere with a stable internet connection, so, technically, any business on a SaaS platform can run anywhere and anytime.
More than accessibility, running SaaS applications can bring a lot more advantages. There are plenty of SaaS software varieties that can help complete a ton of business tasks. Cloud-based SaaS solutions also carry a cheaper up-front cost compared to hefty-priced old school software. On top of that, a SaaS company can easily integrate customer relationship management (CRM) software and Professional Services Automation (PSA) that can help boost customer service levels.
Managing Business in the Cloud
Companies tend to implement new technologies in order to succeed. Knowing about SaaS proves to be useful, especially with new small and midsize businesses because, unlike homegrown technologies, they are inexpensive to maintain and are quite manageable even with a small organization. SaaS technology typically offloads the company from tedious maintenance work, allowing the team to focus on your business expertise.
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Utilizing SaaS technology also frees up more time from technical work and support because the developers are expected to understand how the platform works inside and out. Your team can afford to focus on tasks that can help give your company a better ROI.
When trying to accommodate the changing demands of the business, companies tend to be limited by location. For example, in-person training would require plenty of resources and travel costs alone can be hefty. Whereas with a SaaS company, the same learning experience can be deployed to multiple locations and all the learning tools and files can be accessed through the cloud.
These reasons are valuable enough for you to consider running a SaaS company but did you know that there are six more awesome ways where SaaS can help boost your business growth?
Six Awesome Ways to Boost Your Business Growth with SaaS
1. Minimal Investment is Required to Start
The lower up-front cost is perhaps the most important advantage of using SaaS software. IT infrastructure and maintenance costs are expected to be on the steeper side, but SaaS solutions significantly lower these. SaaS business models are usually tailored according to specific needs so you are to pay only for the technology that you can really use. Most often than not, payments are subscription-based, so you can have a payment schedule that will work with your budget. It would largely depend on the agreed terms whether you will pay for a monthly, semi-annual, or annual subscription fee.
Inevitable start-up costs, like setting up an online store and preparing product photos, used to be expensive. With SaaS, however, starting up a website and make it look professional is much cheaper. You can get popular tools, like Shopify, for as low as $13.00 a month or have a background remover for a stunning background removal service at only $0.07.
The cloud platform offers innovative features that work great as business solutions. The best thing about it is that you have the power to control which features to have for your company. Because of this flexibility, you can fully customize the features in order for them to work to your advantage.
This can be best appreciated when you consider buying full software with a ready set of features. While it can be useful, not all of the features are usable or applicable to your business model. Well, you can have a custom software built, but then it can be pretty expensive, and you will also need to factor in the costs for maintenance. With a SaaS platform, you can choose from among a variety of features and mix and match them to see which mix can give you a competitive edge. It is easy to add new solutions without having to hire an IT professional to modify software for you. The bonus is that these cloud-based applications require almost zero learning curve to understand and operate.
3. Remote Business Access
Running a business from anywhere with a stable internet connection and from any device is possible with SaaS applications. Since it does not require software or hardware installation, you can manage your company remotely. You can access all files reports and any business-related information within the SaaS framework. Other business solutions may also be integrated if you want to have an enhanced information-sharing system. This works perfectly if there is a need to collaborate with both internal and external departments.
Being able to do business at any time of the day can improve overall business efficiency no matter where you are. You can attend to immediate concerns without having to wait for a technical team to sort it out for you. It also serves as a great opportunity to improve customer satisfaction, knowing that you can easily communicate with business concerns straightaway.
In fact, with cloud-based solutions, the need for a physical location can be eliminated. Everything can be managed online and the SaaS providers easily address maintenance needs.
4. Reduce Insignificant Manpower
As a business owner, you are after reducing costs while still maintaining the highest business standards. IT personnel, for example, is no longer needed when you have a SaaS company. Paying someone just to monitor and maintain software is not applicable since the SaaS provider is tasked to ensure that the applications run smoothly.
Removing the business’s technical side can be a good opportunity for you to maintain a certain number of staff members, focusing on being creative, efficient, and productive.
5. Utilize AI-Powered Tools
A huge innovation that is related to SaaS business models is the use of AI technology. AI-powered tools personalize the experience in using SaaS platforms.
Computer algorithms improve the existing SaaS features and can make any SaaS application more dynamic. In eCommerce, for example, there is a huge impact on being able to do certain functions that you can only expect from expensive professional service providers. Take, for example, preparing product photos for an online shop. You will have to pay for a photo editor to get the photos ready for upload in recent years. With AI-powered tools, however, automatic background remover for product photography makes it easier and more affordable.
There are also other areas where AI-powered tools can make a SaaS company more efficient. They are great with marketing campaigns as they can be used to personalize the approach across all types of customers. They can be a huge help when you need to collect customer data for your CRM system. Most of the time, AI-powered tools prove to be useful in automating labour-intensive tasks such as fulfilling orders, troubleshooting problems, and providing in-app support 24/7. More importantly, AI technology has excellent analytical capabilities that can be advantageous if you want to arrive at actionable conclusions. It is perfect for analyzing huge volumes of information from customer behaviours and actions.
AI-powered tools are not only effective but may also be considered affordable upgrades when you are running a SaaS company. They ensure that you can benefit from the true potential of using SaaS in the business.
6. Data Security
Storing data in the cloud may sound sketchy, and many people might think it to be unsafe. It is, however, a false notion. With the traditional business models, data are stored within the physical business premises where any unforeseen disaster can easily wipe out all your data. However, with cloud storage, data loss is avoided because everything is saved on the SaaS provider’s servers.
As far as data security is concerned, SaaS providers are stringent when it comes to data encryption. They are extra-vigilant, especially to both old and new threats, and are ready to learn from and adapt to emerging security risks.
Although cloud service providers are rarely prone to security breaches, you must also be aware that the responsibility in safeguarding your data is split in two ways. As an end-user, you need to be aware of your roles to keep a safe environment for your business files. The devices that you use, for example, should be installed with internal security solutions, like antivirus and malware software.
Migrating into the cloud as a SaaS company should be considered a smart investment for technological advancement. It is a cost-effective solution to boost both efficiency and productivity. This makes it possible to save your precious resources in order to maximize your profits and even encourage faster business growth.
SaaS applications are also constantly updated, allowing you to adopt the best solutions for business-specific needs. With the innovative solutions that are being offered by these cloud-based applications, it will be easier to tackle the ever-evolving business challenges.
More than addressing emerging problems, SaaS technology offers plenty of opportunities to support your business growth. Success in any business used to be too difficult to achieve. With SaaS, however, you are given a ton of smart solutions so that success becomes more attainable through effective communication and smart collaboration.