These days, SaaS technology is improving nearly every aspect of how the business world is run. You can see the effects across virtually every industry and in every region. In fact, according to a recent IDC report, within the coming year, 67% of business infrastructure and software will be cloud-based offerings. The coming changes because of cloud-based software will be immense.
There are numerous benefits to implementing SaaS applications into your business’ routines. For quickly growing businesses, these benefits are especially important to take advantage of. SaaS applications can be used to help you make the most of your resources and stand out against the competition. Here are some of the benefits of switching to SaaS technology.
Reduce costs and increase efficiency
The price of software subscriptions is typically much lower than alternative options. SaaS also reduces in-house infrastructure costs, because the software is hosted on the cloud. Not only does this save hosting costs, but also the setup and installation process for SaaS applications are much lower.
Additionally, most subscription software services include their own IT support as part of your monthly payment. This means you do not need to train an expert to understand the nuances of each piece of software.
When a bug in the software occurs, you can contact the SaaS company’s support department for help. Usually, this means that issues are solved more quickly because your own IT department won’t get backlogged with huge numbers of requests.
Cloud-based software will also help your company avoid time spent on frequently updating software. In the past, frequently required updates lead to compatibility problems with your software, as it was incredibly difficult to keep all devices in a company up-to-date.
Because SaaS applications typically do not require downloads or installations on individual devices, they can be automatically updated through no effort of your own. The updates happen simultaneously across all computers or personal devices. This will save you the headache of time spent on managing updates, which could add up to hours or even days.
Resolves the inflexibilities of data silos
Using SaaS applications for business operations allows data to be accessed anywhere and not just at the office. This allows employees more flexibility, which can lead to a greater ability for your company to recruit talent, increase employee retention, and add diversity to your team by supporting remote employees and working parents.
Increasingly, the possibility of remote work is a requirement for employees considering job offers. According to an annual IWG Global WorkSpace Survey, 80% of people said, if faced with two comparable offers, they would opt for the one with more opportunities for flexible working.
Because of the popularity of work flexibility and remote work, it will be difficult to recruit top talent without this option. SaaS makes it easier for your business to function even while employees are out of the office.
In addition to the increased recruitment potential that comes with SaaS applications, your ability to retain employees will also soar. Allowing remote work can reduce employee stress, and it increases the ability to be more flexible with vacation time, which in turn helps lower turnover rates.
Employee turnover can cost massive amounts of money. A recent study found the cost of replacing an employee can be anywhere from 10 to 30% of the employee’s salary.
Not only do you have to cover the costs of training new employees, but turnover causes an interruption of workflow, which can be expensive. The more you can improve your business’ retention rates, the better off you will be. Access to data from home through the use of SaaS can help you improve this.
An added benefit of allowing flexible and remote work is that you will be able to increase diversity among your team. Remote work allows you to recruit from a variety of locations, drawing a diverse range of candidates.
In addition to recruiting from various regions, you will be able to recruit more working mothers and fathers. A study from the National Academy of Sciences found that 43% of women leave full-time work for at least a portion of their careers after becoming mothers. Flexibility at work can help retain parents who need to be home with children during certain parts of the day.
So many businesses spend massive amounts of time and money trying to improve workflow. The ideal workflow is organized, efficient, and involves frequent communication. When your business has a solid workflow, collaboration increases and tasks are accomplished with greater accuracy and creativity.
Rather than holding frequent meetings trying to encourage employees to increase their efforts to work efficiently, simply implement a workflow SaaS application. Workflow will naturally improve if employees are given the proper tools.
It’s important when implementing workflow software services to sufficiently train each employee. The software will only be used when it is understood correctly. A misunderstood software can be seen as an extra task and employees may avoid it, but if the whole company receives the proper training, these software services can completely redesign the way your business functions.
Avoids the trap of a disorganized SaaS toolbox
SaaS technology is highly useful, but when mismanaged, it can cost businesses time and resources. Growing businesses should be cutting costs whenever possible, so it’s important to have a system for good management of SaaS.
As the number of SaaS apps at your business increases, it can begin to feel overwhelming to ensure each one is being managed well. Subscription periods must be tracked, onboarding and offboarding processes must be overseen. And it is very important for payment schedules to be well managed.
One option to manage all the SaaS apps is to assign a person or team to track the details of each service. This option can be effective if your SaaS management team is highly skilled and detail-oriented, however, it can be costly to have one or more employees entirely devoted to SaaS management.
Fortunately, SaaS management tools can eliminate the need for a team devoted solely to the management of all the various SaaS apps at your business. There are tools that will help you track spending and payment schedules. These tools will also help you uncover underutilized services that may have been purchased by your company but later forgotten.
SaaS products are meant to completely change old habits in your workplace routines. Your business should function very differently after SaaS has been implemented. If you don’t let that happen, the products can be wasteful. Each new piece of SaaS technology should be utilized to the peak of its potential in order to get the best use out of your money.
For example, if your company has purchased a SaaS app for communicating between employees and scheduling events, be sure each employee feels comfortable using this service. Otherwise, it will be underutilized, which will likely lead to wasted resources.
Similarly, a service that analyzes the impact marketing campaigns should be significantly impacting the way marketing is done. If the data isn’t used for any purpose, it is easy for people to forget why the SaaS product was purchased in the first place. This causes apps to be forgotten, and the money spent goes to waste.
With each purchase of a new piece of SaaS technology, be aware of how it will change the way your business functions. Each employee who is affected by the changes should receive training on the new processes.
SaaS has the potential to increase growth at your business and make you a frontrunner among the competition, but far too many companies take only the first steps toward implementing these services. If you use SaaS effectively and avoid these common mistakes, you can transform your business.