With organizations relying more and more on remote workers and geographically distributed teams, Software-as-a-Service (SaaS) apps have become de rigueur for many business operations. Not only do SaaS apps help maximize efficiency and productivity, but they also allow better data security, operating system interoperability, and software integration all while saving resources.
SaaS solutions are based in the cloud, allowing line workers, teams, managers, division heads, and corporate executives to all have equal and uninterrupted access to the software that they rely on most. These apps never need to be installed or updated, and their cloud architecture ensures that the data and tools are accessible from every type of computing device, regardless of operating system.
But how do you choose the application that best fits your organizational needs? In this article, we’ll show you the four key fundamentals of how to choose the best SaaS solution for your business in 2024. We will even suggest one SaaS app that may be your solution if you aim to boost your bidding and project management in the development sector.
Step 1: Identify Your Business Needs
It may sound axiomatic, but before you can choose an SaaS app for your organization, you have to know what problems you need that app to solve. This implies objectiveness when assessing and analyzing current business processes and pinpointing inefficiencies or opportunities for improvement. Furthermore, organizations are highly advised to make a list that defines the specific goals and outcomes that they want to achieve by deploying a SaaS solution.
Furthermore, not all SaaS solutions fall into the same categories. Some cloud-based SaaS apps are designed around CRM (customer relationship management), others around ERP (enterprise resource planning), or marketing, automation, and project management. Before your organization can consider a SaaS solution, it is essential that you determine which category or categories of cloud-based apps best align with your business objectives.
Once your organization has identified the right category of SaaS solution to meet its business needs and has conducted an objective analysis of its currently unmet needs as well as identifying opportunities for improvement, then you can begin the process of evaluating the features and functionality of the available cloud-based apps.
Step 2: Evaluate SaaS Features and Functionality
Obviously, the right SaaS solution for your organization is going to have all the core features and functionalities that you need in order for you to pursue your objectives. But beyond that, it is essential to have a broad overview of what SaaS solutions can offer.
The process of evaluating an SaaS app’s features and functionality lies on several aspects you need to check:
How robust is the app’s data analysis capabilities?
Is the design interface user-friendly?
How fast can your employees learn the app’s functionality to successfully get the most out of it.
How reliable and/or affordable customer support is for the app
Is there any hidden pricing
How often the software is updated on the backend by the company.
Probably the most essential feature of a SaaS solution is its data analytics capabilities because these will be used to provide your organization with insights into day-to-day business performance as well as assisting you in making more strategic decisions. A good SaaS app will have a rich array of charts and analysis features (sometimes powered by AI) in order to better understand how well your organization is currently performing and what are the best decisions to make for the future.
It’s also important to inquire how scalable a SaaS solution is to ensure that it can continue to grow with your business. The last thing you want is to have a SaaS solution with a hard limit on the number of employees who can access it or hidden pricing surprises for when your business expands.
Another key aspect of evaluating a SaaS solution’s suitability for your organization’s needs is how well it can integrate with your existing software tools and operating systems. It should be simple and easy to port data between a SaaS solution and the most common software apps and systems that your business is already using (such as Microsoft Excel for example).
Lastly, it is imperative to understand the role of Application Programming Interfaces (APIs) when it comes to evaluating a SaaS solution’s functionality and features. APIs allow for the automated import or export of data from trusted sources and can play a key role in how a SaaS solution integrates with your business processes. And it’s also worth inquiring whether a SaaS solution allows for any third-party integrations that can further enhance its functionality.
Step 3: Assess Security and Compliance
Even the most powerful SaaS solution in the world will be useless to your organization if it can’t keep your data secure and in compliance with local, national, and international laws on privacy and data storage.
Some of the most vital questions that your organization needs to ask when assessing a SaaS solution is what strength of encryption it provides, whether or not it allows for multi-factor authentication (MFA), and how often it makes automatic backups of your data.
It is also essential that the SaaS solution that you choose has some type of built-in mechanism to ensure that your business stays in compliance with industry standards and regulations. This could be in relation to GDPR (the EU’s directive on data storage and personal privacy), HIPAA (ensuring the privacy of medical records in the United States) or more broad-based standards such as ISO/IEC 270001 (information security management and cybersecurity protection).
Always be sure to inquire from your SaaS solution vendor whether they offer regulatory compliance certifications as well as what built-in features the SaaS app has to ensure that your business operations and data will remain in compliance not just with existing standards but also future regulations.
Last, but certainly not least, your organization should inquire into the SaaS solution vendor’s reputation, corporate history and customer reviews. A quality SaaS solution should offer comprehensive support services for its users as well as a responsible and reliable customer support team.
Step 4: Analyze the Cost and ROI
It almost goes without saying that your business SaaS 2024 acquisition is going to heavily depend on both the initial upfront cost to buy (or gain access to) the app as well as what its project return on investment (ROI) will be for your organization.
Different SaaS solutions use a variety of pricing models, including freemium (free to use but you have to pay for premium features), pay-as-you-go, and subscription-based. There are often also different pricing tiers depending on your organization’s business needs and the number of employees who need access to the SaaS app.
But beyond the sticker price, it is essential for organizations who want to choose the best SaaS to factor in the complete cost of adopting a cloud-based app, including implementation fees, how much it will cost to train your employees on using the software, and if there are any maintenance costs or fees.
Once your organization knows the total cost of ownership (TCO) for a SaaS solution, it is then advisable to calculate both the mid and long-term potential return on investment (ROI) for your organization. Questions to ask include what metrics and KPIs you will use to measure the success of the SaaS solution, the projected time frame for realizing significant benefits from the SaaS solution, and how the SaaS solution will specifically contribute to revenue growth, cost savings, and/or productivity improvements.
Conclusion
In conclusion, the four fundamentals of finding a business SaaS 2024 solution that is right for your organization are: identifying the business needs that the SaaS app can solve, evaluating its features and functionality, assess its data security and regulatory compliance capabilities, and calculating both the upfront cost of acquiring the SaaS solution as well as its projected return on investment.
And there is no better SaaS solution for organizations in need of project management software than BidNexus. Built by the leader in information technology for professionals in the sustainable development community, BidNexus offers a simple, intuitive user interface that allows organizations to securely, safely, and easily perform every step of the project management process.
If you’d like to learn about how BidNexus can solve your business SaaS 2024 needs, do not hesitate to reach out and contact us today.