Did you know that the average expenditure on Software-as-a-Service (SaaS) applications for every company has steadily increased each year since 2010 and the market overall is expected to reach $397.5 billion by the end of 2022? But what is Software-as-a-Service?
It is a method to deliver and license software where the software is accessed online on a subscription basis. But how popular and beneficial is this method? This method may not be new, but it is widely popular because of the benefits that it offers, which include affordability, scalability, security and frequent updates.
One of the biggest takers of Software-as-a-Service (SaaS) applications are small businesses. The most recent example to support this claim was evident during the 2020 pandemic, when small retailers and restaurateurs decided to shift shops online to stay afloat during a difficult time. To cut costs while staying relevant in modern times, SaaS was the best option for such businesses.
Let’s look at some of the benefits that Software-as-a-Service (SaaS) applications offer:
- Reduced cost: Foremost and most appealing to small business owners is the elimination of costs. Instead of spending on hardware or software purchases, they can turn to SaaS applications that are easy to deploy and maintain and work on subscription model so costs depend on usage. Moreover, you can use it from anywhere.
- Scalable and flexible: For small businesses, one of the major business goals is to expand and scale their organization. For this, they inevitably need flexibility. Thanks to the subscription-based model, SaaS applications offer you several models from which you can choose the one best suited for your needs. You can easily change it when your business requirements change.
- Easy-to-use: Now, who doesn’t like uncomplicated Apps? Isn’t it why we like a few of the OTTs more than the others? SaaS software and applications are designed with the help of modern technology and tools, keeping in mind user preferences and business requirements making it user-friendly and easily accessible. Another hidden benefit of this is that you can do it yourself and can cut the cost of a technical employee!
- Unique feature updates: The core of Apps is update in features. People are thinking on their feet all the time, before you know it, a new need arises and businesses want to cater to that need. SaaS Applications and software come with a set of unique features and are updated continuously to meet the needs of small businesses as their requirements change constantly according to the dynamic market. This helps businesses increase their productivity considerably.
- Data security: For any business, once the data is breached, it is almost game over. We know that hacking is the biggest threat to any business today. To beat this threat, SaaS providers continuously update their software to eliminate bugs. They ensure that the best security systems are implemented that are more reliable than in-house systems.
According to a report from Computereconomics.com, more than 60% of companies have directly or indirectly implemented at least one Software-as-a-Service (SaaS) solution to their business. We can be rest assured that it will only go up from here and the benefits of using SaaS solutions will also keep increasing.
Aspire Systems’ homegrown methodology, Software Infinity, is a one-stop solution for all your software development needs. It elevates the software engineering strategy to deliver hyper-scalable SaaS software solutions quickly. Learn more about the benefits it offers.
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