SaaS seems to be everywhere these days. If you are not sure what SaaS stands for, it stands for software as a service. Businesses of all shapes and sizes can benefit from adopting SaaS instead of relying on the traditional business software licensing model.
Software as a service refers to cloud-based software that is used on-demand. Today, all businesses rely on software to improve their processes, operations, productivity, and profitability. This is because most organizations need to use so many critical software tools, whether it is CRM, ERP, CMS, HR, payroll, or EHR software.
Traditional licensed software just doesn’t make business sense anymore. So whether you need HR software or ERP, SaaS can benefit your business in several different ways.
Cost Efficient
Software as a service is far more cost-efficient than traditional alternatives. There are several ways businesses can save money by switching to SaaS. First, organizations only need to pay for the resources they use. For example, if you want to buy access to software for one or two users, you can.
Additionally, businesses don’t have to invest in special hardware to run their software. SaaS can be run on virtually any computer or smart device with access to the Internet. Plus, businesses don’t have to spend time and energy installing software on all of their computers. With a SaaS solution, users simply log in online to gain access.
Finally, organizations no longer have to pay for maintenance or upgrades when choosing SaaS. SaaS is automatically updated, and the provider handles all maintenance. As a result, SaaS can drastically simplify your business’s IT needs.
Scalable
Growing businesses need to be concerned with scalability. Demand can seemingly change overnight, and if it does, your business needs to be able to respond quickly to ensure your processes and operations are not disrupted. SaaS is the most scalable software solution a business can choose.
Let’s say that your business only needs minimal access to SaaS HR tools when you start. However, now that your business is growing and your HR needs are evolving, you need more access and features. With SaaS, upgrading and scaling your software is as simple as changing your subscription plan.
Simply pay to instantly gain access for additional employees and unlock additional capabilities. SaaS is software on-demand. SaaS is already ready to match your new needs when it is time to grow.
Guaranteed Data Recovery
Data loss can have significant impacts on a business. SaaS protects your business from data loss, natural disaster, or damage to your computers because it is delivered through the cloud. For example, if a freak accident occurs at your offices or all your computers are destroyed, you won’t lose any of the data associated with your SaaS.
Reliability is a major benefit for businesses. With so many uncertainties, it is beneficial to know that your data is always protected and available from anywhere there is Internet access. Plus, SaaS supports automatic data backups that don’t interfere with daily operations or the integrity of your data.
Improved Security
While it is irresponsible to trust your SaaS provider with all of the security responsibilities, organizations that choose SaaS have fewer security concerns. As is the case with maintenance and upgrades, the bulk of your security will be handled by the SaaS provider. As a result, your business has more time to focus on specific security measures to amplify the security of your data and operations.
Businesses benefit significantly from having an additional partner in their security efforts. SaaS providers are keen on keeping their products secure from data breaches to protect their reputations. SaaS that is not secure won’t get adopted by businesses. So while it is helpful to have additional security from your provider, you cannot trust them to handle everything.
Your business should still invest in IT security for your SaaS solution. However, with multiple parties involved in ensuring the security of your SaaS solution, your software is undoubtedly more secure than traditional alternatives.
Free Trials
Most SaaS providers will allow your business to try their SaaS before purchasing it. Traditional software cannot make these types of offers. Plus, you might be able to access a free version that limits users or actions for some software. If you don’t like a certain SaaS, you can always try another provider before making a final purchase.
Innovative Examples of SaaS
The capabilities of SaaS is truly limitless. Ownup.com is a SaaS that is revolutionizing the way people apply for mortgage loans. This SaaS allows users to compare lenders, apply for loans, determine how much loan they can afford, and even get pre-approval letters.
Another innovative example of Saas is Astrella.com. Astrella is a SaaS designed to help startups and businesses with cap table management. Ownership can get complicated when there are multiple parties involved. Astrella helps simplify cap table management and give all stakeholders a clear idea of each ownership stake.
Final Thoughts
SaaS has revolutionized the business world. This approach to software has quickly become the norm in most industries. However, if you have never tried or considered SaaS, your organization is likely missing out on significant cost savings, among other things.
