08 January, 2020

Technology has witnessed a rapid expansion and quantum of innovation over the past couple of years. Technology has already changed the way we communicate with each other and our lifestyle altogether.

With the swift advancement of technology, small businesses have an opportunity to adopt the latest technology for their business model. Implementing the right technology in the right place can help the businesses mitigate their operational expenses and at the same time help them grow rapidly.

Many small and mid-sized companies have already switched to cloud computing but many still hesitate because of the traditional mindset that makes them worry about data safety and cost.

SaaS, otherwise known as Software as a Service, is a popular business model in which companies host and license their software from a cloud-based server on a subscription basis.

Many companies focus on developing the software solutions internally which adds to additional working capital requirement, maintenance cost and additional manpower requirement. SaaS helps the companies by minimized investment requirement, limited tailor-made and moderate benefits.

Let’s explore how SaaS has changed certain functions in business operations.

1. Unified Commerce Platform 

Ensures that solutions are always working together and the web store is completely in sync with the store, without any trouble. It is a scalable software that reduces costly inefficiencies, increases profitability, and adds new revenue streams while speeding up transaction times to create great customer experiences.

2. Omnichannel Order Management 

Need to leverage enterprise inventory at different locations more effectively and take advantage of cross channel opportunities. The most sought after benefits of distributed order management are optimizing inventories at individual locations and improving order profitability.

3. Omnichannel Marketing 

SaaS plays a major role in omnichannel marketing. It helps to personalise the offer at the right time in the right way and make the payment process seamless. It involves training staff, integrating operations and customer experiences at various levels.

4. Omnichannel Returns 

Possible to have hassle-free returns by centralising return transaction data, which means the data can easily correlate returns from several channels and retailer systems. Solution plays a large role in shrink management for omnichannel retailers, especially in BORIS situations.

SaaS also provides support tool that offers omnichannel functionality to manage one of your channels (like email or live chat). Primary goal should be to make it easy for support team to access and resolve inquiries, regardless of the channel a customer uses. Centralised dashboards eliminate the need for agents to waste time switching between platforms or tools so that they can assist customers as efficiently as possible.

SaaS is continuing to evolve, and will continue to have an impact on how the average business operates. The notion of subscription-based, cloud-accessible applications is unlikely to vanish anytime soon. As SaaS businesses begin to solve the problems they have with fragmentation and difficulties with integration, the market for these tools will only widen, as will their impact on our work.