SaaS Masterclass | SaaS Business Model explained

Software as a Service, also know as SaaS, is a cloud-based service where instead of downloading software your desktop PC or business network to run and update, you instead access an application via an internet browser. The software application could be anything from office software to unified communications among a wide range of other business apps that are available.

This offers a variety of advantages and disadvantages. Key advantages of SaaS includes accessibility, compatibility, and operational management. Additionally, SaaS models offer lower upfront costs than traditional software download and installation, making them more available to a wider range of businesses, making it easier for smaller companies to disrupt existing markets while empowering suppliers.

The major disadvantage of SaaS applications is that they ordinarily require an internet connection to function. However, the increasing wide availability of broadband deals and high-speed phone networks such as 5G makes this less of an issue. Additionally, some SaaS applications have an offline mode that allows basic functionality.

There is no question, the SaaS industry is growing globally and across platforms.

• 38% of companies say that they are running almost completely on SaaS.

• 73% of businesses plan to make all their systems SaaS by 2020.

• Based on projections by Blissfully, SaaS spending across companies of all sizes will double by 2020.

• 86% of businesses that use SaaS significantly experience relatively higher employee engagement.

• North America is the most mature SaaS market in terms of adoption