Likewise, half of SMBs reported that they will likely go beyond their initial cloud usage plans due to the pandemic. In 2020, a study found that almost 33% of SMBS have spent over $1.2 million on SaaS, and this figure is expected to further increase due to the growing cloud adoption as an impact of COVID-19. And with the onset of the global virus outbreak, businesses big and small have further expanded their reliance on SaaS tools, including their spending. In 2016, the 5-year small business SaaS spend was $55,000 on average. Gradually, small business SaaS adoption and spending have increased.
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Requiring just a web browser to use rather than software to install on your PC, SaaS significantly reduces capital outlay and operating costs, including purchasing perpetual software licenses.Įarly on, companies welcomed SaaS only as an option for their technology requirements. These key factors, along with other considerations, will be discussed in this SaaS guide for small businesses.įor the uninitiated, SaaS software is a cloud-hosted, online version of an application that you access through a connected device and which you pay for based on usage. Plus, many vendors have flexible plans that allow you to scale up your use of their software as your business grows. Later on, you can add more apps as your business expands or as the situation calls for it, especially with the vast changes made by the COVID-19 pandemic. On average, small businesses will use only around three to five apps to jumpstart their business. You don’t have to stock up on all popular SaaS solutions it wouldn’t only be practical, but would definitely be expensive. What should be your priority SaaS solutions if you are a startup or a small business? The right choice of your initial technology stack can be vital, as you need your business to take off on solid footing with the right tools, without overspending on features you won’t use. These software solutions can be deployed on-premise, but the trend these days is to access them from the cloud.
Among the essential tools for small businesses are collaboration platforms, accounting software, CRM software, and communication tools. The types of software helpful for small businesses largely vary with the size and industry of the commercial venture.
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