Cloud computing has gained significant popularity over the years because its applications continue to skyrocket in big data and artificial intelligence. Changes in the cloud computing services are now steering the technology into a complete new phase of innovation and development. A fact states that 90% of the web has been created in the last two years. This humongous influx of information is making rounds in the modern business world and would even continue to do so.
SaaS, Software-as-a-Service is treading into the mainstream as even the enterprise IT organizations are making use of the cloud computing services. Moreover, the software companies who used to sell standard software are espousing this cross-industry phenomenon. So, what exactly is triggering even the top players adopt SaaS? How are enterprises deriving benefits from moving data analysis to the cloud?
Inception of SaaS
SaaS stepped in the digital market arena back in the early 1990s when employees used to connect with a company’s in-house system in order to access all the applications and data of the company that was stored on a central server.
SaaS has been gaining importance ever since and today there are thousands of applications all across the Internet offering a wide range of opportunities and solutions designed to meet the rising expectations of the customers. Transparency Market Research states that the overall SaaS market will touch $164.29 billion by 2022.
How is SaaS Transforming the Modern Business?
Recreating the Nature of Work
Cloud computing platform comes up with a common platform where the application users can easily collaborate and manage their supply chain without nay hassle. For instance, with the help of cloud, technologies whose sole purpose is to optimize transportation planning can be widely used to create transportation planning community.
So if you are not using the cloud IT services, you will be unable to share information or business processes with other vendors and participants.
Providing Financial Perspicacity
More and more businesses are gearing from the complex world of ERP to the cloud so as to connect seamlessly with the project management, supply chain, design, and purchasing. Moreover, many businesses are showing up to a cloud-based EPM (Enterprise Performance Management) making it a cynosure of their quotidian operations. This will assist them in planning their finances in the long run and accomplish their long-term goals.
Superintending the Workforce
Cloud computing services also had a prodigious impact on the way people actually work. An enhanced communication flow has made thousands of business processes and functions more transparent and simplified. Everything, right from training and learning to project management and recruiting; all have taken a complete new form. In addition to this, the focus has shifted from organization or senior management team to the employees. Because the workforce is the main strength and the building blocks of the entire system, organizations will be looking to find the most effective way in managing and engaging their employees.
Use of Analytics to Understand Customer Satisfaction
With the exponential rise of digital technologies in the business landscape, customer satisfaction has turned out to be of top priority for most of the organizations all across the globe. Companies now are using cloud based analytics to identify the customer behavior and in finding out the profitability and the overall performance. The essence of cloud analytics is not only in making valuable decisions faster, but also it simplifies complicates tasks and diminishes costs sustainability.
What are the Benefits of SaaS?
SaaS possesses a faster processing power along with scalable data analysis. Hence, this considerably reduces the time required to complete a project.
You can pay only for the service that you need without making any upfront investment.
One of the major benefits of the SaaS system is that it is highly accessible in nature. The only thing you require is a good internet connection and you can work on your own device no matter where you are.
SaaS will never take off due to security concerns and this is why most of the enterprises are now moving to SaaS. Since it is highly secured in nature, you can benefit from the level of security.
The feedback of the customers gives an insight into the customer’s needs and therefore, offers timely upgrades.
The omnipresence of SaaS technology are becoming a preferred delivery model for software, offering enterprises a wide variety of cost and efficiency advantages. The future of SaaS is looking pretty illuminating as it will be able to address critical issues like making predictions and forecasts about which the customers will churn, and will help you discover which cross-selling practices will help your business grow and prosper. Therefore, it can be concluded that SaaS Cloud Computing’s Future Looks Dazzling.
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