The Severe Cost of Being Left Behind in the SaaS Revolution
September 3rd, 2019 (Updated 03/23/2021) | 5 min. read
By Duncan Hendy
SaaS, or software as a service, is a software distribution model where third-party providers host software in the cloud making it accessible from any location. This effectively removes the need for companies to host pricing management software on their own on-premise systems, and as a result, reduces the cost of hardware and in-house maintenance significantly.
The Advantages of Using SaaS
SaaS models follow a monthly or annual pay-as-you-go pricing plans which remove large upfront costs and have the unique benefit of regular updates and the ability for a company to upgrade or potentially downgrade their package to better suit their needs. SaaS is a modern solution for pricing in the digital age.
In the current economy where cuts are made frequently and tasks are required to be completed yesterday, company time is more valuable than ever. Responsibility over SaaS updates and maintenance lies solely with the software provider. Smaller companies without dedicated IT infrastructure teams now don’t need to worry about installation, licensing, training, hardware or updates. The majority of these become automatic with software as a service, allowing your employees more time to allocate to business-critical tasks and customer service.
The rest is handled by the provider through experienced and dedicated experts. As productivity rises within a workplace so do profits. In this day and age, a business of any size or industry cannot veer away from the latest pricing management technological advancements. Especially not when their competitors are already taking the next steps.
SaaS boasts faster implementation times when compared to traditional software, and, as such, reduces the time-to-value intervals. When combined with the cloud-based nature of SaaS, the supplied business now has the option to take the software out of office with them. Rather than being limited to a desk, SaaS allows a user to access software on their mobile or from a tablet on the road – to events or to another branch of the business. For many businesses, the lack of reliance on dedicated hardware could make all the difference in efficiency and productivity, leading to a more profitable business.
Risks of SaaS
A common worry when it comes to cloud-based software such as SaaS is the potential risk involved. However, risks are mitigated by the provider who typically hosts more secure servers than that of their clients – especially in the case of smaller businesses and enterprises. Whilst some may worry that hosting their data in the cloud through software as a service may be a risk, it may actually be the case that upgrading to SaaS will improve the levels of security surrounding your data, bringing an added benefit to the service.
The nature of software as a service is that it is free to update and improve as the consumer or provider requires it. In the current fast-moving business of pricing management, SaaS helps prevent your business from being left behind and reduces the risk of costly mistakes and hold-ups. Where on-premise software may be released in annual increments and, as such, fall a year behind, SaaS can schedule regular and unobtrusive updates that will help keep your business at peak efficiency. In addition to the updates, SaaS comes with ongoing support, which is amplified by the pay-as-you-go model software as a service utilizes.
Customer service is at the forefront of a SaaS provider’s list. Pay-as-you-go models allow the consumer flexibility and choice all whilst encouraging the provider to improve their product consistently and to maintain a personalized service with their clients. This allows not only for a more stable service than a typical on-premise solution where the software provider has a low stake in the business, but also for flexibility in the form of customized software that is bespoke to the client’s individual needs. Unlike average service providers who monopolize the market and increase prices whilst decreasing service, software as a service models are an open bond between the provider and consumer. This symbiosis promotes shorter and less frequent downtimes, transparency between provider and consumer and ultimately, a reliable relationship built on trust.
There has never been a better time to get onboard the SaaS revolution.
Pricefx is the global leader in holistic price optimization, management and realization software. As the only true cloud-native SaaS solution, our product is flexible to suit the needs of B2B and B2C companies regardless of size, regardless of industry and regardless of your location. The cornerstone of our business model focuses heavily on the loyalty and retention of our customers based purely on their satisfaction. We currently deliver our products successfully to over 95 satisfied clients in over 37 countries across the globe.
We specialize in the fast implementation of our cloud-based solutions. As a business, downtime is the last thing that you want. Our service cuts away your downtime significantly by integrating seamlessly with your current on-premise solution or preexisting third-party systems. It is here where we strive for customer satisfaction by removing one of the major drawbacks of many SaaS systems. Our in-house project leaders alongside our highly experienced customer success team are on hand to ensure that the transition from your existing system to SaaS runs as smoothly as possible and that your team is fully trained and prepared to use Pricefx. Therefore, avoiding any financial implications of downtime with your systems and effectively launching your business into the future.