We’ve seen how cloud computing services have diversified to serve various customers. One of the hottest trends that rolled out in the early 2000s is Software-as-a-Service (SaaS). And as remote work becomes the norm, SaaS solutions have continued to grow and become dominant. Aside from SaaS, we now have other cloud-based models for running your business, such as Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS). According to Statista, the SaaS market is estimated to be worth 171.9 in 2022.
But despite its popularity, many remain clueless about SaaS. Let’s learn more about SaaS and why it is important for businesses.
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What is Software-as-a-Service (SaaS)?
SaaS is a business delivery model commonly used by businesses in the cloud market. It offers IT solutions delivered through the cloud and managed remotely by cloud service providers. As long as you have a stable internet connection and a browser, you can access software services. To use the software, all you need is to subscribe to the service.
Many business applications are delivered through the SaaS model, such as HRM, procurement, messaging software, management, billing and accounting, and CRM software. These solutions are hosted and managed by vendors. Customers don’t need to rely on their on-premises IT resources and organic IT department for technical needs.
SAAS development companies offer several advantages: cost-efficiency, agility, and flexibility. Delegating the difficult task of managing software unburdens businesses and focuses on more crucial business aspects. Instead of worrying about software-related tasks such as installation, upgrade, management, troubleshooting, and security, the IT team can focus on more crucial tasks.
Why is SaaS Extremely Helpful?
Many organizations rely on cloud-based services for many business processes – and it’s not surprising. SaaS offers several advantages that make them extremely helpful to businesses and end-users. If you haven’t maximized this tech trend, here are some of its benefits that you can harness to help your business.
Cost-efficiency
Compared to building a customized IT solution, SaaS is more cost-effective. You only pay for what you need. You don’t have to invest in additional IT assets to host the solution or hire an organic IT team to manage the solution. Likewise, you don’t have to purchase complicated software with expensive features that don’t apply to your business with SaaS. SaaS products allow you to scale up and down depending on our needs for better cost-effectiveness. This is particularly advantageous for companies with strong seasonal trends, allowing them to trim down subscription costs based on demand.
Access to advanced applications
SaaS products are suitable for everyone, whether a small or large business, for private, educational, and professional use. There is an array of cloud-based software solutions available to users, which gives customers access to powerful tools that they can use for their business. But the best part is that you don’t have to install, update, and maintain these solutions as a third-party provider does that for you. For small businesses, access to advanced applications can be a tall order considering their costs. But with SaaS, it can cost less to access these IT solutions.
Availability
Cloud-based solutions offer 24/7 availability. SaaS vendors guarantee reliability to avoid unwanted downtimes, prevent data loss, and ensure continuity even in natural disasters. SaaS solutions are compatible with any computer system, so anyone can use them if you have a stable internet connection.
Time-saving
With SaaS applications, you don’t need to go through the software development complexity that can take weeks or months. You don’t need to wait for the tedious software development process. These IT solutions are available immediately and are designed for optimum usability. Once you subscribe to the service, you can start using it and work on your tasks.
Better security
Hacking, data breach, and unauthorized access remain a challenge to businesses. Sadly, beefing cyber security infrastructure and protocols requires a hefty investment. SaaS providers put a lot of effort into upgrading and boosting their security standards to protect user data. Reliable security practices are fundamental in maintaining customer trust. The consequences of poor security and data breaches are serious that you need to concentrate your resources on it. SaaS products unburden you from the challenges associated with ensuring data security.
Software-as-a-Service is a key tool that businesses can leverage to grow and succeed in their market. Its usability, availability, security, and costs offer an enormous advantage for companies.
