5 Essentials That Every SaaS Company Needs

My Post (32)Cloud computing services are three words that most business professionals are now used to hearing at once.

The 21st century, where the evolution of the world of business has been bringing along changes to everything about how an enterprise functions, all the operations are shifting to online platforms from the offline database. eCommerce and e-networking are two of the most important components of online operations that are playing major roles in the expansion of sales. Along with that, the system of computers is also changing.

The biggest change is in the form of SaaS. Software as a Service or more commonly called as SaaS is a way of providing companies with an online software licensing and delivery model instead of offline computer pre-install method.

Just like how various online subscriptions work, from Netflix to Amazon shopping, SaaS is usually based on a similar subscription model and is also called an on-demand software. Some might call it like a rental service where the user himself doesn’t exactly pay but borrows the service from a provider. It is gaining a huge amount of popularity due to the various following advantages:

1) Low cost – Completely online and subscription based, this model saves sellers from overhead transport and installation costs hence, in turn, reducing the selling price for the product. Usually, you have to pay 15-20% as maintenance and support fees if you buy an offline model. Those costs are completely avoided in SaaS.

2) Scalability – Since it is based on an online model, it is usually a feature that is available for expansion and extended usage. There are usually different packages which can be subscribed and then it is flexible and open to change as the business grows.

3) Accessibility – The online model makes things very simple. Anyone with a computer and a decent internet connection can subscribe and access their software whenever and wherever.

Everyone ranging from finance to Human resource employees is now using SaaS in their departments. Not only these reduce the cost of installation but also require lesser IT infrastructure to be maintained in the long run. Moreover, the service is very easy to procure and available in the markets which makes it a good deal for companies looking to reduce their financial burden.

It is probably because of all these advantages and the high market demand that new companies providing SaaS models are popping up around the world. Moreover, SaaS sales were predicted to grow by 23% in 2018 to reach a value of 72 billion dollars. Furthermore, Tapping this high-growth market is a win-win situation. However, SaaS models and the success of your company during providing the same depends on various other factors.

In a market with high competition and high user base, it is vital for every SaaS provider to have these following 5 essential features – Read more