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The software-as-a-service (SaaS) industry has seen tremendous growth in the past years, and the growth is expected to continue. According to Yi Jin, PhD, the SaaS industry is projected to see revenues climb to US$369.4 billion in 2024. At Nabu Pro, we also believe the industry is about to change radically.
SaaS is a business model where software is distributed to customers through cloud computing on a subscription basis. SaaS offers a lot of advantages to customers because it takes maintenance and updates off their plate. But today, the SaaS industry needs to evolve.
The Origins of Software-as-a-Service
The SaaS was born in the 1960s, around the time of the first personal computers. The original idea behind SaaS was renting IT equipment because computing could be extremely expensive. Companies such as IBM rented computing machines to offer competitive options.
By the 1990s, the Internet was on the rise, and it was making computing cheaper. With more people and businesses adopting computers for everyday use, and with improving technology, the price of personal computers decreased and its use skyrocketed. With more computer users, more software was being built, but we were about to face another problem.
In the 2000s, software was becoming increasingly sophisticated. Typically, software would be installed on computers either through a CD, a floppy disk, or a business server installation. But it was hard for businesses to keep current with the increasing demand of new software on a PC’s hardware requirements.
To keep up with new software, businesses would have to continually buy new equipment. That’s when cloud installation became more prominent. By hosting the software on their own installation, software providers can ensure customers can use it.
Today’s Software-as-a-Service Landscape
Today, the problem with Software-as-a-Service isn’t hardware or accessibility. Cloud hosting has solved hardware problems, and subscription models have solved accessibility issues. The current problem is the quality of service offered outside the software itself.
The reality is that software is designed to solve issues and make the lives of customers easier. However, many software solutions offer little support or consultation services to complement their software. As the SaaS industry grows and options flood the market, the way to stay competitive is to offer better service.
We are seeing changes in market demands. Users no longer simply want software they can use; they want a team they know and trust. After all, every software has its limitations, and software needs to be adjusted to customer needs.
Nabu Pro: a Service-with-a-Software (SwaS)
Nabu Pro prides itself on being a leader in customer satisfaction by going beyond the traditional SaaS offer; Instead, we offer a Service-with-a-Software (SwaS). We provide compliance management solutions through our software and expert guidance through our team. In addition to our exemplary customer support, we offer regulatory intelligence and consultation services.
While the SaaS industry is moving toward more chatbots and automated follow-ups, we are betting against the trend with our team of dedicated experts. Nothing replaces a team of real humans who provide live phone support. Moreover, we want to know what customers think of our software to make it better. The core of a service is never the software, it’s the team that builds and maintains it.