Did you know that software companies have a tendency to grow faster than others because of the ever-evolving nature of their businesses? In fact, data indicated that software companies had a median growth rate of as much as 48-percent in 2016, and the industry’s projected growth rate for 2015 was as high as 44-percent. In fact, companies observing higher growth can potentially return five times as much investment to shareholders, which makes SaaS such a lucrative industry – if you know how to use it. If your business plans are tapping into SaaS as a resource, you can potentially reap a lot of benefits from this venture. Here are some ways you could do it:
1.) Customer-friendly, especially since SaaS offerings are geared towards a lot of customers that may reap a lot of benefits from their features. The rather flexible nature of SaaS allows customers to have complete control of the features they want, and to customize them to make their lives easier. This makes SaaS a potential companion for employees to have their work done in a much more efficient manner.
2.) Ease of use, especially since functions inside a business that normally needs complex software or hardware can simply be done all over the cloud. Services that allow file storage could for instance just have all members of the SaaS offering have access to the entire network or their own private folder. This allows the exchange and creation of documents much easier to facilitate, and file storage is guaranteed given it’s much harder to “mess around” with files that are located inside the cloud.
3.) Cross-device compatibility, as SaaS also allows software normally confined to a single device to be accessible from almost any other compatible device such as smartphones. This mobile-friendly and cross-device initiative has allowed users to modify, create, and share various amounts of data with a vast array of tools that can make them extremely flexible members of the workforce.
4.) Analytics, analysis, as user data can now be better analyzed and assessed through SaaS software. This allows businesses to collect vast amounts of information on leads, prospects, and customers all from a single application. This means relevant and authorized users can access important data and make valuable reports that can help direct businesses to their next course of action.
5.) Flexibility, customizability, given that SaaS offerings are based on subscription, customers also normally have access to a wide variety of “tier-based payments.” These normally allow them to choose the kind of features they want that will be added to the monthly subscription, meaning features can be chosen depending on the preference of the user in question. This can make company operations much easier, as you can now use an SaaS offering specifically for your company’s needs.
6.) Cost benefits, as SaaS now allows users to implement updates and make sure systems are all compatible with the users’ needs. This can greatly improve workflow and reduce costs for everyone. Before the time of SaaS, technicians will have to manually put updates to devices themselves – but now SaaS allows maintenance to be conducted on an entirely departmental level.
The Takeaway: Optimization, Adaptation Is Key
When it comes to making the transition towards SaaS, it’s not a guarantee that companies will see returns right away. This means the main challenge of actually benefiting from SaaS is to make sure your transition focuses on optimizing your SaaS to your current business structure, and to make sure you adapt to your new system first. Understanding how optimization and adaptation blend together can help your transition towards SaaS much more easier, and you can utilize SaaS to its full potential once this understanding has been achieved.
You May Also Like: