SaaS, owing to its convenience, has been becoming a popular software delivery model. Typically, SaaS products are mobile, and web applications that do not need installation, and users pay yearly or monthly fees for accessing the product. This makes SaaS a great solution for users as well as the company providing the product.
What Is A SaaS Product?
Software as a service is a modern sales model that has been increasingly substituting conventional software licenses. Google Apps or DropBox are among the most popular types of SaaS products. You do not need to install anything on your device to use any SaaS platforms as the application is hosted by the server provider. Moreover, updates and further maintenance are executed by the host site and are not visible to the users. The product is not sold with a lifetime license; instead, it is distributed through a subscription model.
What Are The Types Of SaaS Software?
Cloud-based software services can be applied in any part of human activity. And the COVID-19 pandemic has further added to the popularity of SaaS applications. Before knowing how to develop a SaaS product, you should know the types of these products available in the market. Following are the types of SaaS product –
- Enterprise Resource Planning Software
It is harnessed by enterprises and conglomerates to manage a variety of business processes. These processes include risk management, accounting, supply chain, budgeting, and compliance. SaaS allows you to amalgamate and track a wide range of business processes in one place as the services are in big numbers. The solutions minimize the probabilities of data duplication and offer a single source of accurate and up-to-date information. Benefits of ERPs include –
- Enhanced business insight
- Improved efficiency
- Reduced risk
- Reduced costs of operations and management
- Higher user adoption rates
- Improved collaboration
- Consistent infrastructure
- Customer Relation Management
CRM solutions aim at automating marketing/sales processes and can be a game-changer for developing businesses. These systems enable organizations to develop and grow strong business relationships and address the queries and complaints timely.
Moreover, it also ensures businesses keep up with the expectations of the customers by managing customers’ profiles and offering them a customized experience. A CRM system will automatically collect the information of the customer and keeps track of the communications across various channels such as websites, customer reviews, support logs, social media, etc. Additionally, CRMs that leverage AI can communicate automatically based on past experiences and data.
Following are the benefits of the CRM system:
- Streamlined collaboration
- Proactive service
- Improved communication
- Reliable reporting
- Improved efficiency
- Increased in sales
- Project Management Software
Businesses constantly juggle with a wide range of projects, tasks, plans, and people. Project management software aims at providing a solution that can help companies to keep everything organized when planning and executing projects predictably, accurately, and profitably.
The software is used for planning, resource allocation, time management, and change management. Effective implementation and use of project management software can allow companies to gain competitive advantages. Following are the benefits of project management software:
- Keep the teams connected
- Reduced upfront costs
- More flexibility
- Low-maintenance in terms of project management
- Integrated security as well as disaster recovery
- Human Resource Management Solution
HR-based SaaS solutions allow businesses to manage human resources, payroll attendance, performance, and other important aspects related to HR. It significantly improves the productivity of employees as well as managers and enables them to focus more on strategic initiatives rather than spending a substantial amount of time and effort on administrative tasks.
The system automates HR processes, allowing them to be implemented quickly and provide high scalability. The software includes a wide range of features such as applicant tracking, interview scheduling, recruiting, talent management, people analytics, etc. Following are the key benefits of human resource management solutions:
- Better monitoring of employees
- Overseeing leaves and absences
- Better collection and management of data
- Secure data management
- Saving time and enhancing productivity
When implemented and used in the right manner, SaaS solutions can be highly lucrative for your business. It works to improve the overall performance, offer customer experience, and acquire competitive advantages.Considering it is offered on a subscription basis, SaaS solutions have become more accessible for small and growing companies.