Effective data management is critical when organizations are inundated with massive amounts of data. Adopting digital technologies in processes and services is essential for big data organizations to manage data effectively. Many businesses have turned to SaaS (software as a service) to help them navigate the Digital Transformation Process. Software as a service is a software delivery model that provides customers with subscription-based software.
This journey or navigation, however, is complex and requires the efforts and collaboration of various teams. As a result, understanding the capabilities of SaaS applications and offerings is critical to reaping its full benefits. The surge in SaaS solutions is unsurprising given the global pandemic, which forced companies to switch to remote work in order to stay connected and afloat in the shattered business world.
Statista report shows that the global software as a service (SaaS) market is expected to grow between 2020 and 2025. The United States is expected to increase tremendously, from 92 billion euros in 2015 to 191 billion euros in 2025. In short SaaS market is exploding and is sure not to stop soon.
What is SaaS Management?
Today we do not purchase software; instead, we buy service. In this context, we purchase (software as a service) SaaS applications.
And the act of managing and tracking all cloud applications used within an organization is known as SaaS Management. A SaaS Management system is commonly used to improve onboarding and offboarding, monitor expenditure, discover which tools employees use, and automate complex or repetitive tasks.
But why do we need SaaS management?
We have discussed the explosion of SaaS applications, and you may be wondering why this shift necessitates a new practice and tool.
We require SaaS Management because the increase in decentralization results in an increase in Data Security risk, Waste, Cost, and Creating silos (of knowledge, resources, and talent). Despite these drawbacks, we cannot return to centralized decision-making for every tool that stifles innovation and growth.Instead, we require SaaS Management to keep optimizing and growing while avoiding risk, cost, waste, and silos.
IT’s role in the company is changing, but it has never been more critical. IT can use the power of a SaaS Management tool to unify and coordinate the company’s growth while also reducing risk exposure.
Rise of SaaS Management
The adoption of SaaS apps by businesses has increased efficiency, cost reductions, expandability, and business flexibility. SaaS solutions have transformed the workplace, from reduced costs, IT load, and maintenance investment to simplified employee collaboration and easy implementation of task-critical tools. However, information technology, security, finance, and procurement leaders face challenges in integrating and implementing it. Organizations are either unaware of or undervalue this issue.
An unchecked SaaS (for example, “shadow IT”) makes software management impossible. Employees and teams have access to dozens to hundreds of applications, which they can activate in minutes through free trials and straightforward credit card purchases. SaaS solution is viewed as a competitive advantage by modern workers. Problems are resolved more quickly and in more sophisticated ways. This desire for a competitive advantage only fuels the buying madness.
Importance of SaaS Management in Digital Transformation
So why is there a surge in SaaS management? Though there are numerous advantages, let us know a few:
With a SaaS solution, businesses can allow their employees to access software data and tools from remote locations without installing the software. It also eliminates the need for a VPN connection. This SaaS app benefit is critical for organizations in order to maintain operational efficiency and enable an effective, distributed workforce.
E.g., Imagine a sales rep having access to the CRM tools on the phone that enables them to search for customer data and pitch to them while traveling. This access can lead to unstoppable sales revenue for the organization.
Scalability in SaaS solutions is broad, increasing the number of users who can access the software. SaaS applications can scale hardware requirements in real-time and grow on cloud infrastructures.
One of the key benefits of SaaS solutions is accelerated innovation, which allows organizations to provide their customers with convenient and faster access to advanced technologies. It does away with the traditional weighing of software updates against implementation costs.
SaaS solutions help businesses reduce the total cost of ownership associated with upgrading and running traditional software. They eliminate infrastructure costs associated with scaling or implementing software, IT resources required for software upgrades, and scheduled downtime.
Ways to leverage Enterprise SaaS
The cyber-first architecture of cloud-based services ensures a secure online work environment, eliminating the possibility of breaches, leaks, or data theft. A few more fundamental advantages that SaaS provides a business over its competitors are as follows:
Rapid Workforce Mobilization
SaaS, by definition, is available on any device that can connect to the internet. Employees of your company do not need to be present on-premises to deal with organizational emergencies or urgencies; they can also access the SaaS app component via their mobile phones or home computers. Send a single message to get everyone on the SaaS platform and mobilize your workforce across geographies.
The typical purchase-based software has a few drawbacks that will put you behind the competition:
Most enterprise-level software is
- Has limits on the users
- It comes with unnecessary extra features and packages that your company may not need but must pay for anyway.
- They take up space on your machines and may cause a slowdown when running.
While in SaaS apps, you get the benefit of choosing and picking the essential functionalities you require. For example, if your company does not need a full-fledged CRM, it can opt solely for Sales Automation. Choosing a SaaS solution saves a valuable business investment that they can redirect to competitive strategizing, business development activities, head-hunting, and other activities. Customizing your software and delivering it in real-time on any screen adds significant power to your organization.
Updates and support
Access to cutting-edge technology is essential for making a mark in the competition and staying ahead with the newest, most efficient tools. And you agree when we say that technology, innovations, and updates are frequent. The same concept applies to today’s software; regular releases of new and improved versions have quickened the obsolescence of purchased, on-premise products due to a lack of post-purchase updates and support.
SaaS applications give you access to the most recent software and plugins, allowing your workforce’s productivity to soar. Any competition can be handled when your workforce works to its full potential. Isn’t it?