SaaS Applications Businesses Need in 2020 and Beyond
The cogs of the business technology revolution have been in motion for some time now. Each passing year sees businesses rely more heavily on digital technologies. The adoption rate of Software as a Service (SaaS) applications has steadily increased recently, but the events of 2020 have accelerated uptake beyond prior expectation. The future of business is digital, and the future is now. Businesses that are unwilling to make the transition to digital technologies and software run the ever-increasing risk of becoming obsolete.
SaaS applications operate on a subscription model in which the software is hosted in the cloud. SaaS applications:
- Are accessible from anywhere with an internet connection;
- Update automatically, eliminating the need to manage downloads;
- Sync data in real time for all users; and
- Are usually powered by the providers’ data hosting centres instead of local servers.
In a global market becoming more competitive every day, it’s difficult to argue against modernising business with SaaS solutions. Here are our top three SaaS applications businesses need in 2020 and beyond:
Microsoft’s quintessential SaaS offering for both organisations and individuals is Office 365 (O365). The scope of programs and functionality offered by O365 make it a must-have for many organisations. O365 provides a useful suite of tools for business operations, regardless of industry. The offering includes Word, Excel, Outlook and other essential Microsoft applications. SaaS suites offer the ability to work remotely whilst also being able to instantly share and collaborate on work. By taking advantage of cloud storage, businesses can also eliminate some of the security risks that arise when working with local files and backups.
Recent years have seen a surge in the adoption of cloud-based accounting SaaS products. Considering the rise of online shopping throughout the pandemic in conjunction with the SaaS adoption trend, it’s obvious that more businesses will be shifting their accounting to the cloud. Xero sets the industry standard for cloud-based accounting applications – as an innovative platform disrupting global business. For any business owner looking to modernise, it’s hard to look past the benefits of an accounting SaaS like Xero. Xero offers an impressive catalogue of benefits to its users. Some of the most important include regular cloud data backup, instantaneous overview of finances and elimination of various bookkeeping processes’ wait times.
Concerns of cybersecurity and data backups have inevitably become central to the conversation as more businesses adopt SaaS applications. Data backup solutions are increasing in usage as more businesses realise how they comprehensively address their particular backup and recovery needs. Few things are more detrimental to a digitally modern business than a serious data loss event. Such an occurrence can cause severe reputational and financial losses, as well as inhibit an organisation’s ability to operate. Modern SaaS backup solutions provide secure cloud storage, instant accessibility and shareability, facilitating collaboration and increasing productivity.
The bottom line of digital adoption is that businesses that fall behind get left behind. Work with your internal IT staff, outsourced IT department or consultant to identify the best solutions for your business and plan your implementation. For more information on SaaS applications and their increasing role in business, get in contact with the team from Provide Finance.