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6 ways how SaaS can benefit corporates in Fin-Tech

August 17, 2015 Lisa Perales 0 Comments
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The Software-as-a-Service (SaaS) model has flourished in many sectors in the last few years, one being the financial sector. SaaS is a software delivery method that provides access to software and its functions remotely as a Web-based service and is regarded as an alternative for on premise software. The SaaS model is becoming one of the biggest drivers of change within the financial landscape and according to Gartner, the adoption of SaaS will only continue to grow. The SaaS model offers many benefits to corporates of all sizes and types. In this blog, we set out what the benefits of SaaS applications are.

1. Cost savings

SaaS application models usually operate on a subscription basis and hence there are no large up-front costs. Moreover, having the SaaS provider manage the IT infrastructure means lower IT costs for hardware, software, and the people needed to manage it all. Since the SaaS provider owns the environment and it is split among all customers that use that solution, maintenance costs are reduced as well.

2. Fast deployment

Deploying on-premise applications in a large company can take month or even years and requires a great deal of work. SaaS applications aren’t deployed on the users’ physical machines. The user simply gets a username and password and starts using the application. As a result, SaaS applications are fast and easy to deploy.

3. Seamless integration

SaaS solutions are web-based, which means they can be accessed with a secured internet connection. With SaaS, users canplug in and subscribe to services built on shared infrastructure via the Internet. SaaS deployments can be provisioned almost immediately, allowing a company to get back to work. Instead of worrying about installation and maintenance, IT teams can focus on other priorities.

4. Easy upgrades and faster bug fixes

SaaS vendors upgrade their solution centrally. This upgrade then becomes available for all customers. Costs and effort associated with upgrades and new releases are lower than the traditional model that usually forces the user to buy an upgrade package and install it, or pay for specialized services to get the environment upgraded. Moreover, when a single user identifies a problem with a SaaS application, the SaaS vendor can typically have a fix deployed for all customers within a very short amount of time.

5. Work anywhere, anytime, anyplace

SaaS gives you the ability to access your system from anywhere in the world. To access SaaS solutions, all you is a secured internet connection. The ability to transact business from smartphones, tablets and virtually any connected device provides intrinsic business continuity afforded by an instantly mobile workforce. For multinationals, the need for only a web browser and internet connection enable easy roll out to the field locations and ensure standardisation for multiple sites scattered across the globe.

6. Integrated Partner Networks

Another important benefit of SaaS solutions in the financial world is the value added services that SaaS vendors provide. SaaS vendors keep expanding their partner networks, which offers clients future opportunities to maximize their initial investmentwith minimal additional capital. This can be a significant benefit not only in the required time to market but also in reduced future maintenance.

Want to know more about the benefits of centralizing corporate payments? 
Read what our CEO has to say about Centralizing Corporate Payments.
Read it here

 

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