The Covid-19 crisis continues to spread its havoc around the world, forcing many businesses to shut down during this tough time. This has widely impacted the current economic state and is also said to be influencing the future of the economy. The businesses were ardently looking for a solution to sustain in this unprecedented environment.
Technology and SaaS have come to rescue organizations allowing them to run their business on the cloud through digital mediums. The innovative and intriguing features that SaaS enterprises are offering are luring more and more companies to shift from on-premise software to a cloud-based system.
Research by Gartner suggests that SaaS revenue is expected to hit $150 million by 2022, and if that happens, then there is no stopping for the growth of SaaS enterprises. To back this prediction with some spectacular reasons, we have compiled a list that explains how SaaS will be the most powerful change-maker in the future economy:
Enables You To Seamlessly Build A Remote Team
Your workforce may consist of a diverse set of teams ranging from marketers and sales personnel to developers and HR teams. Especially during these uncertain times, it is essential that you offer a platform that enables them to collaborate and work together efficiently irrespective of their different geographical locations.
For instance, let’s consider a SaaS-based HR software. This will not just enable your employees to record their attendance or leaves remotely but also act as a repository to access all the information related to the organization. Right from their goals to tracking their productive hours, everything will be available on a single platform.
Supports Various Business Sectors
SaaS-based products gel extremely well to cater to a wide range of needs of different business sectors. The current pandemic situation is very unpredictable and may cause certain markets to disappear or, on the contrary, give rise to anew segment altogether.
SaaS organizations have the capacity to pivot their product according to the demands of the market they are serving to. Moreover, with the cloud-based infrastructure, it becomes even more, easier for remote teams to securely complete their tasks from anywhere in the world. They do not have to depend on a physical entity or unit to scale their business as they can swiftly do it through the digital platforms.
Reduces Dependency by Promoting Self-service and Subscription Based Selling
SaaS products are basically customizable and are sold on a subscription basis. This enables the SaaS enterprises to be scalable enough as they can continue generating revenue from their existing customers while trying to acquire new customers. And they can offer various levels of features based on the subscription the clients opt for according to their business requirements, make it self-serviceable to choose the one that suits them the best.
This could be one of the best ways for businesses to ensure that they have access to the services based on their subscription period, which will help them in the better financial management of their operations.
Effortlessly Integrates with AI and Automation
SaaS companies nowadays build products that can be seamlessly integrated with AI and automation to help their customers provide a better and improved user experience. Right from incorporating Chatbots to integrating with other communication platforms, different tools can be employed with the SaaS platform.
Whether you want to integrate it with a Slack channel for better team communication or opt for an AI tool to improve your audience targeting, all of it can be done simultaneously.
To pave the way to the future, successful SaaS companies are being laser-focused on ensuring that they have the right strategies in place to keep going as always. They are continually looking for ways to optimize their economic units while serving the needs and demands of their customers. The organizations that aim to provide a good customer experience will always have the opportunity to be winners.