Software as a Service (SaaS)  is one of the most popular forms of cloud-based computing software available today. SaaS is essentially a subscription software license that enables enterprises to use the on-demand product as a service over the internet and allows users/customers to access the application via the Internet.According to a study conducted by Gartner, the SaaS industry has grown to a size of about $85 billion. The same study reports that the total revenue for cloud solutions exceeded $175 billion in 2018 and is on pace to reach $206 billion in 2019.

Users become SaaS consumers the moment they use services that are hosted on the Internet but do not require the software to be downloaded to their devices. Here are some examples of popular products that use this model: Google Docs office suite, Canva, Figma, Medium, Slack etc.

Basic features of SaaS products

That being said, let's take a look at the basic features of SaaS products.

1. It is a subscription-based model: Users pay a monthly or annual fee for the app based on the services consumed. This gives users room to simply stop paying for using the service if certain features do not satisfy them or if they no longer need to use it.SaaS applications typically use seat-based billing, where the number of seats purchased determines the price. It can have a range of pricing structures and billing intervals, including monthly, quarterly, half-yearly, and annual fixed. Only a small number of contemporary SaaS apps allow for usage-based charging.
2. SaaS applications allow for a single sign-on: To authenticate the various systems that users would use, a company would want to have a single identity system in place.   Additionally, it's crucial for businesses to have a single page where users can input their login information and access all of the Software as a Service app that has been assigned to them. As a result, the Software as a Service application ought to be able to seamlessly interface with different identity management systems. This crucial component is typically enabled by Software as a Service application using impersonations of the SAML or OpenID kind.
3. It makes Integrations possible: This enables both users and developers to get more out of a product.  The greatest SaaS platforms for the long term consider an ecosystem of expansion. For instance, Slack has hundreds of potential connectors. Think of integrations as a "marketplace."
4. Simple to use: Users do not need to install, configure, or upgrade any hardware that might require support, because SaaS products are essentially cloud platforms. According to reports, companies that used enterprise SaaS capabilities saw a 15% decrease in IT spending and a 20% decrease in IT maintenance costs.
5. Optimized Security: According to IT experts, safety is the main concern for businesses, hence why Security in cloud computing is one of the most important considerations for SaaS products. In essence, the SaaS service provider is wholly in charge of ensuring the security and preservation of any data that clients and users permit them to preserve. Due to this, data security is given massive importance, and customer data is kept confined.

Advantages of SaaS products

In general, moving everything to the cloud has a lot of advantages. Cost and usability are factors that apply to SaaS products. Let's dive straight into the advantage you'll undoubtedly enjoy after you switch to SaaS.

1. Users of SaaS applications can quickly access the program from any location with an internet connection. Users are not required to use the program only on a specific device or at a specific workplace.
2. Using a cloud infrastructure, you do not need to install, update, and maintain hardware and software.
3. The service provider regularly backs up every piece of data kept in the cloud. Enterprises don't need to worry about data integrity in 99.9% of circumstances because all the data is protected.
4. As a general rule, SaaS solutions are cross-platform, which means they don't need a particular OS or browser to function with the app.
5. SaaS programs can be updated more often than conventional software. The lack of numerous backend versions, central hosting, distinctive configuration, and provider access to the app are some of the elements that contribute to this characteristic. Agile software development techniques also facilitate timely releases, enable quicker feature delivery,

Conclusion

SaaS applications have successfully improved the startup sector, and they are now beginning to influence the business community.SaaS services are an excellent option for businesses because of features like security, accessibility, and the ability to adapt them to meet your specific needs.

Do you need SaaS-based solutions with all the necessary functionality to elevate your business to a new level? We can develop high-performance SaaS applications for you in record time. Contact us, and one of our professionals will give you timely advice on any matter.