Software as a Service (SaaS) is one of the latest software distribution models that allow customers to access applications using the internet instead of custom installations and physical media. Also, it’s hosted by a service provider that updates and manages the solution automatically.
These days, SaaS continues to dominate the market across the world. Businesses of all types and sizes are now adopting SaaS as one of the best and most cost-effective alternatives to traditional software development, IT deployment, and on-premise hardware.
On top of that, more than 60% of businesses these days have integrated SaaS into their software solutions. This significant decision has allowed them to boost their income potential by up to 20%, which may increase further if they use it properly or combine it with many integrations.
If you need help integrating SaaS solutions into your business operations, you may visit IT & Cybersecurity from Isidore Group or any local service provider nearby. With their professional experience, you’ll be able to maximize SaaS to improve a wide range of critical functions.
Furthermore, SaaS comes in different types with different purposes. This article will show you those dominating the industry today and for the years to come.
1. Customer Relationship Management Software
Customer relationship management software, or simply CRM, is one of the most important tools businesses use today. It helps businesses foster strong relationships with their clients by providing excellent customer service based on the data gathered by the system.
The main goal of CRM is simple: improve customer relationships. This software solution helps businesses stay in touch with their customers, improve their business profitability, and streamline their operations through automation.
CRM is often implemented across different departments such as sales, marketing, recruiting, business development, customer service, and others. It allows them to collect customer information, identify sales opportunities, record issues, and manage marketing campaigns in one centralized location.
If your business still doesn’t have this great solution, grab your phone and contact any local provider right away.
2. Enterprise Resource Planning Software
Enterprise resource planning software, or ERP, is a type of software solution companies use to manage a wide range of everyday business activities. These include accounting, supply chain operations, procurement, risk management, compliance, project management, etc. In addition, a complete ERP stack often includes enterprise performance management features, which help businesses plan, predict, and report their financial outcomes.
ERP software solutions combine a myriad of critical business functions and streamline the flow of data across the system. By gathering a wide range of data from multiple sources, ERP software will be able to reduce duplicate data and improve its quality and integrity.
Today, ERP systems provide support to multiple business operations across small-sized, medium-sized, and enterprise businesses, including customizations.
3. Accounting Software
Accounting software is a must-have SaaS software solution for most businesses these days. It’ll help you manage and record everyday financial transactions, including expense management, accounts payable, revenue management, fixed asset management, reports, and analytics.
In addition, fully-built accounting software effectively tracks the organizations’ expenses, revenues, liabilities, and assets. These transactions are registered and recorded in the software’s ledger concurrently, allowing treasurers, finance teams, and CFOs (chief financial officers) to access accurate data.
Aside from being a separate software solution, accounting software can also be found as one of the most crucial components of ERP systems.
4. Project Management Software
Project management software is another in-demand SaaS software solution used in a wide range of project-related business functions such as:
- Project Planning: It’s used to create project schedules by mapping out task interactions.
- Task Management: It’s used to create and distribute tasks evenly, including status reports and deadlines.
- Document Sharing: This software facilitates seamless document sharing to improve collaboration for faster and better results.
- Calendar Sharing: This software is able to create calendar schedules and share them across different departments immediately so that anyone will know what’s about to happen in the coming days.
- Time Tracking: This allows businesses to track the course of their project, update customers, maintain records, and inform project heads.
5. Communication Software
Communication is one of the essential keys to the success of the business. Using communication software will help your business promote effective and efficient internal and external business communication.
With communication software, you’ll be able to send messages to your vendors and customers lightning fast. Also, it’ll help your employees communicate with other team members at the touch of a button. They don’t need to waste time going to and fro just to deliver the necessary information.
Furthermore, most communication software provides chat support, video communications, telephony, and voicemails. There are tons of service providers out there varying in prices and features. Therefore, it’s important to choose wisely by considering the needs of your business above everything else.
Final Words
Software as a Service continues to drive the business world forward with its great features and seamless capabilities. It helps businesses solve different issues and concerns and make the lives of millions easier.
Each type of SaaS serves different functions. That’s why it’s important to have all types at the same time to address varying concerns effectively such as file sending, communicating, receiving payments, etc. If you want to know more about its implementation, the best course is to call your local provider and start improving your operations.