The simplicity of integrating and the option to pay as you go are just two factors that have encouraged the accelerated adoption of SaaS products. While there are concerns regarding security, data privacy and limitations to customising software, the underlying benefits of scaling and cost have led to large-scale adoption. The software products marketplace typically comprises two sections: Companies which began on-premise but have transitioned to mainly SaaS but retained an on-premise option for customers preferring this method. The second concerns newer businesses that are predominantly SaaS. This format began with companies like Salesforce and quickly became a preferred choice for traditional on-premises CRM software. There are also an increasingly large number of tech-focused companies essentially working as SaaS businesses. Companies in the consumer service industry like trip advisor, or companies in the finance scene, such as Stripe, are examples of this. There is an emerging talent war within the SaaS space, with traditional enterprise software companies that have moved to SaaS are now competing for top talent with leading businesses like Salesforce, and Workday, who are similarly competing with the large internet companies like Amazon and Google. 

Technical and executive positions at technology companies have never been in such high demand. This is likely to rise as businesses embrace automation, AI, machine learning and data intelligence. For software product companies, people capabilities are accelerating quickly as businesses and operating systems utilise cloud and SaaS services. Today’s software leaders need to work with more innovation and be capable of making quick real-time decisions, determining which products to use and improving what is working. A structured talent and engagement strategy is critical for software companies to attract the best professionals within the current industry. There are various sources to search, including new and pure-focused SaaS businesses, tech-enabled businesses, transitioned software companies and consulting firms. The booming industry environment has made it considerably more challenging to attract executives to a new platform, mainly due to the success in their existing roles. Generating interest from a candidate means the opportunity has to stand out, be captivating and specifically targeted at each individual. 

The recruitment challenge is particularly challenging for businesses in a transition phase, than those focusing on pure growth. For companies trying to recover and move on from legacy technologies, hiring a leading professional is critical to enable them to attract other high-level candidates to their business. 

The SaaS industry is growing at a considerable pace. Software service providers and tech-focused businesses compete for the same leaders and skillsets. Hiring managers and their search partners need to understand the software industry and where successful leaders are working and remain agile to how the industry is progressing. Creating the most compelling proposition to attract the best industry talent is critical.

A hybrid multi-cloud approach is emerging as the preferred IT platform for implementing a business-focused strategy.

The priority of delivering a successful hybrid IT strategy is ensuring that it aligns with your business needs. This plan involves determining the most suitable on-premise systems and combining these with the most effective software-as-a-service (SaaS) applications available that meet the requirements of your organisation.

Adopting the best available SaaS technologies needn’t mean eliminating all non-cloud systems. Many businesses need these installed systems to support any plans for further innovation and digital transformation. Other challenging, resource-focused services may not be cloud-ready. These conditions require a hybrid approach, which enables cloud and non-cloud systems to work together so companies can operate various applications in non-cloud conditions while adopting cheaper and more efficient SaaS technology services.

Another vital consideration for creating the best hybrid multi-cloud strategy is ensuring the correct infrastructure model is applied when moving from legacy systems to a blend of SaaS-focused models.  

The costs associated with maintaining in-house systems must consider the operational costs of the buildings as well as the opportunity cost that comes with datacentre infrastructure. This is especially true when expanding a business or utilising new cloud technologies to accelerate transformation.

It’s important to take note of the possible inefficiencies that can occur with a data centre when factoring in these costs. Studies suggest that data centres can waste up to 90% of the energy used from the energy grid. Switching to a cloud-first datacentre model enables a business to take advantage of the economies of scale. It reduces a portion of that waste and can enable more efficient IT technology expenditures and allow for a quicker transition with the best available SaaS technologies.

Combining a hybrid IT strategy with a structured implementation plan allows infrastructure to be scaled, improves enterprise agility and enhances transformation by using a good mix of on-premise and SaaS technologies.

Artificial Intelligence (AI) is progressing at a rapid rate and advancing systems are becoming more efficient at adapting to new scenarios and performing in ways that are similar to the human brain. With further technological advancements, there is great potential for AI to transform large businesses in the coming years. Software-as-a-service (SaaS) tools have had a significant impact on how businesses operate and perform today. Artificial Intelligence will potentially reshape the next wave of this software, enabling companies to not just collaborate on innovative software, but also to gain a deeper insight and share further information and knowledge.

This generational transition means digitally-focused individuals are becoming more dominant in the workplace. For these employees, support from AI will become a regular part of workplace activities, providing additional support and enabling people to learn new skills. The businesses that implement intelligent use of AI will likely have a greater chance of attracting and retaining employees for longer. Industry experts believe AI strategies will be an essential part of business competitiveness.

The concerns surrounding the rise of Artificial Intelligence

The common concerns related to how AI could eliminate jobs across multiple sectors, to issues about the potential threat of creating an uber-intelligent system and its impact on our planet. For every investor in artificial intelligence, it is critical to ensure we remain focused on using AI as a technology to support humans and not to replace them.

AI has the potential to empower people, to increase the sharing of skills and knowledge. Revealing the insights with AI from thousands of human brains could dramatically enhance intelligence levels. For business leaders, it is clear that AI has a positive impact on productivity and efficiency, increased workplace happiness and improved workforce retention.

The potential challenge for the future is ensuring businesses utilise AI in a positive manner. Aside from supporting human knowledge and skills, AI could be implemented to measure employee performance and identify employees underperforming. If businesses implement AI in this manner may eradicate trust within a business. When considering how AI can be used, businesses should carefully consider the impact new technology will have on trust and reputation.

The rise of data and innovative workplace software systems mean businesses have significantly higher access to information than ever before, however, a large proportion of data and information remains stored in our minds. Businesses and innovative solutions that are capable of revealing this information are likely to rise efficiency levels significantly. Moving forward, businesses will need products and services that let employees discover and share skills and knowledge and Artificial intelligence will be vital to unleashing business productivity for the future.

Software as a Service (SaaS) is a common technique applied to the operations of many businesses today. Studies suggest that by next year, over 70% of all enterprises will operate nearly completely on SaaS. In short, SaaS is an applied approach offering software and charging customers to use these services on a subscription model. The systems generally include a number of benefits such as a simplistic platform, reduced costs, access to multiple functions and a remotely available tool.

As far back as the 1960s, SaaS services have continued to expand, leading to a number of leading businesses in the marketplace. One notable business is Slack, the cloud messaging platform. In fact, Slack offers more than just messaging, enabling users to send and store files, make video calls and generate work channels. The platform has become a very popular option for many startup companies, offering a very user-friendly, affordable and aesthetic system. Slack now has over 10 million users and this is forecast to continue rising into next year. Many industry experts believe that the success of Slack boils down to the product and a carefully created software service that people are genuinely looking for, and more importantly, willing to pay for.

Another highly-regarded platform is Shopify, a targeted e-commerce system enabling any user to create and manage their very own online store. Their popularity has grown significantly and has become the 3rd most popular site worldwide. Shopify has been particularly clever in its approach, providing a multi-channel approach, enabling high volume traffic and engagement for each customer.

One of the most established companies in the SaaS market is Google, offering in excess of 135 differing SaaS products including productivity systems like Google Docs to popular advertising tools like Google Adwords. Google is regarded for creativity and innovation and this represents an essential part of its mission. Innovation requires ensuring you are one step ahead of competitors in your industry, thinking of new concepts and products that have the ability to transform the customer experience.

As proven by Google and other leading businesses, success in SaaS boils down to creativity, innovation and delivering a service that people are willing to pay for. Creating a product that is user-friendly, simplistic and ultimately creates a clear benefit to the user is more likely to succeed in the marketplace.