The Advantages of SaaS For Asset-Intensive Industries

Now more than ever, businesses are becoming increasingly digitised. It makes sense – digital technology allows an organisation to streamline processes, increase efficiency, supercharge productivity, and of course, save a whole lot of money. 

Software as a service (SaaS) was first coined in 2005 but a lot has changed around the concept since then. Understanding SaaS as a powerful tool for your business ensures growth in a time where cloud computing is becoming more robust and increasingly popular.

You might have already heard of SaaS Data management or cloud asset management software, but what is it exactly? And perhaps more importantly, what are the advantages for your company? 

In this article, we’ll explore just that. 

SaaS Defined: What is Software as a Service? 

SaaS is a delivery model in which software is licensed to clients and customers via a cloud-based system. Users are able to access applications (like Obzervr) through a web browser. 

Asset-intensive industries such as Mining, Utilities, Infrastructure, Property, Engineering and Construction utilize SaaS data management software for processes like Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Resource Management (HRM) and more. 

Advantages of SaaS Data Management in Asset Intensive Industries 

Here are some key advantages to implementing cloud-based asset management in your organisation. 

Receive Key Business Insights from Cloud Asset Management Software in Real Time 

It’s no secret that reporting can be exceptionally time-consuming, often involving reconciling multiple reports and countless spreadsheets. But with SaaS data management you’ll receive automatic reports via a real-time dashboard. 

Having this live, up-to-date information allows management to make decisions quickly based on credible data. This, in turn, can create a real difference in profitability. Reporting becomes more self-service over a cumbersome process and allows managers to track business progress quickly and efficiently. 

Streamline Data Management Processes

Gathering data manually from multiple paper sources is inefficient and a real drain on employee time. Cloud-based asset management software increases productivity and streamlines processes by gathering and managing data from multiple sources automatically. 

From extracting data to processing it according to your business protocols, SaaS data management software like Obzervr streamlines procedures and generates required information for frontline staff quickly and efficiently. On top of that, by minimizing human error from paper processes, the data collected is more accurate.  

SaaS Products Take Less Time to Configure

Compared to traditional software systems, where you might have a program installed and configured, SaaS help you save time as they’re installed and configured already. 

So, going with a SaaS app keeps you from the issues that come in the way of developing, installing, and configuring your own software on your server. In fact, you can get started with a SaaS app to use for your asset-intensive business within an hour or two. 

SaaS Data Management Programs Consistently Offer New Releases 

Getting your traditional software model upgraded can be hard as you may have to purchase the complete upgrade package – let alone the struggles required to reinstall and reconfigure it on your system. 

On the other hand, SaaS data management programs consistently offer new upgrades that are available to the users. In fact, the updates are generally included in the SaaS package. 

Cloud Asset Management Software Cut Costs Down 

The high license fee and other upfront costs easily make the traditional type of on-premise software installation more expensive than using a SaaS model. Even if your asset-intensive industry comes with a good budget, investing less in the software can help improve profitability. 

When you use a SaaS model, you’re free to only pay for what you use, rather than investing in a premium license of the program. 

Subscribing to a SaaS rental software also cuts down the costs spent on installation, configuration, and maintenance of programs. It is made possible by the multi-tenant environment of SaaS programs in which many customers share the server hardware resources, electricity, internet, and maintenance costs. 

SaaS Products Generally Come With a Free Trial

When you’re forced to purchase the premium license of a program, there is a big financial risk as you (likely) don’t know if that software is perfect for your industry. But, SaaS models typically offer free trials ranging from 7 days to 14 days and even a month. You can avail a free trial before purchasing a subscription to make sure you invest your budget in the right software. 

You Don’t Have to Worry About IT Development

When you subscribe to a SaaS product, the provider itself manages the IT development and other technical tasks. So, you can have quick access to your business’s data by simply signing into your account, without the technical expertise required. 

Moreover, the regular software updates and management of technical tasks by the vendor make it easy for you to get used to new programs, without worrying about technical issues or data security. 

SaaS Solutions Offer High Data Security

One of the main purposes of a SaaS product is the security of users’ data. SaaS providers usually have expertise in creating secure and protected data management & other IT solutions for their customers to ensure their data safety. 

The SaaS programs allow storing your asset-intensive business’s data on reliable and secure cloud servers that are generally backed by Google Cloud, AWS, or another authoritative cloud hosting provider. These platforms generally have multi-layer security systems to ensure the top-tier protection of your data.

Furthermore, many SaaS apps also offer advanced security features like multi-factor authorization for signing into your account. Plus, some other security tools by SaaS products protect your data against phishing and ransomware attacks. 

Final Words

SaaS products are a great way to digitise your data extraction and management to manage your asset-management business more productively. In this article, I broke down the key benefits of SaaS data management systems for asset-intensive industries. 

If you’re ready to cut down your data refining costs and streamline the process to boost your productivity, you can book your demo right away at Obzervr. We make it easy for you to digitize your data management without paying through the nose. 

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Book a demo today.