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SaaS – The Cheek Of A Growing Industry

Posted in Industry News on 21st March 2022

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Do you wish you had tools to help facilitate your day to day tasks? – Try SaaS.

The SaaS community is growing and how it is having such a strong grip of the B2B and B2C space! Looking at the reasons as to how SaaS is benefitting its consumers and why the consumer is looking for help.

What is SaaS?

Software products are everywhere; we have them on our phone, we have them in our house and we use them every day at work – some more than others admittedly. Practically everyone working within the technology industry will have multiple day to day tasks to complete using the assistance of some form of software or web application. What are the essential tools you use to complete your job? Most likely some form of Software as a Service. 

SaaS is a cloud-based software application offering great advantages for any business and more importantly the employees who are going to be using them. As an example, a Human Resources professional would have to consider professional-development training for their staff, talent acquisition, industry compliance and much more. With this comes a lot of data, a lot of information to collate and track. Excel spreadsheets work-ish… But what is the functionality?

You must manually craft each equation/algorithm to auto-generate results which is time consuming and some employees may not know how to do that. In addition, with all the data and the number of people all working towards that one spreadsheet; it can cause corrupt data or miss-saved data which can lead to all kinds of issues. Don’t get me wrong, spreadsheets can work on small-scale data but what happens when it comes scaling the business?

How Can SaaS Help You?

Well this is where things get interesting; SaaS providers tend to offer flexible packages which enables growth within the company.

This growth could be company-wide so the current HR team needs to have more data-storage capabilities or even if the HR team is getting bigger so you need to have more users, SaaS offers the flexibility to do so. As it is hosted on the cloud, multiple users can update simultaneously without any data-loss issues. Further to this, accessibility is important when you are constantly managing data and metrics – you can access any SaaS platform as long as you have the ability to go on to the internet whether that is from your phone, your tablet, laptop or desktop. No access key is required, no need to be connecting from a particular IP address, it makes working from more viable and with the way the work force is currently demanding more flexible working options, this is a huge positive. 

Quickly set-up and easy upgrades means a less time waiting for updates which can disrupt your day-to-day tasks. The SaaS providers deal with all the updates and launching them centrally to the hosted applications and removing this workload and responsibility from you.

SaaS includes applicant tracking systems, customer relationship management systems, employee scheduling software, reporting software and other tools. Due to the structure of these services they are monthly subscriptions which means no big upfront cost! So, this type of service can work for start-ups through to enterprise level companies.

Where is the proof?

You are probably thinking, where is the proof? Well there is an abundance of stats to support the ever-growing SaaS industry:

  • As of 2018 there were 6823 SaaS companies, this suggest there is a company which is offering a service you will need.
  • 73% of companies have indicated most of their apps/tools will be SaaS by 2021.
  • 93% of MDs/COOs/CIOs/CTOs are using or planning to use SaaS.
  • Initial projections were that SaaS revenue will hit $100 Billion mark by 2019 – It happened in Q3 2018.
  • 85% of small business will invest in SaaS Solutions.

To conclude, the stats suggest that SaaS is a growing sector, and it has the revenue to match. The drawbacks of utilising a SaaS platform certainly do not out way the astronomical benefits. The variety of products is immense, to wit, any problem you or your company may face is more than likely to be covered by a SaaS application.

SaaS – Developed for the user, by the user, to help the user grow! 

If you would like to keep up to date with information like this please give Candour Solutions a follow: https://www.linkedin.com/company/5149129/admin/

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