Business intelligence (BI) is analysis that determines the key performance indicators to drive business forward. Properly implemented, business intelligence can be used for everything from providing more value to customers to predicting outcomes and finding trends in the market.
With more and more businesses recognizing the importance of BI software for their productivity and profitability, software as a service (SaaS) companies are constantly challenged to come up with new business intelligence and innovative ways to meet demands.
What Is SaaS?
Software as a service is a growing technology trend that’s impacting many businesses. This method of software delivery includes applications that are hosted remotely by a vendor or service provider, which are made available to customers through a network.
Essentially, the software is rented rather than purchased, usually with a subscription that’s renewed monthly or annually. This is a deviation from the conventional way of purchasing businesses software, but as cloud computing becomes more popular, SaaS offers significant advantages.
Faster Response to Customer Demand
Technological changes within the market require immediate adaptation and implementation, so your business can’t afford to take a lot of time and resources to roll out new solutions.
Fortunately, a SaaS company that has thus far been innovating and changing with the market is already ahead of these changes, ensuring that you have the tools you need to meet the demands of your customers faster than the competition.
Aligning Existing Resources
Partnering with a SaaS company offers the advantages of offering new services and solutions without pulling from your own resources. An innovative SaaS provider has already been working on new solutions within their service, allowing you to focus on your core competencies while also providing more to your customers.
SaaS also allows you to be more flexible with your offerings. Because the software is hosted externally by the vendor, you can change your usage plan to address changing needs within your organization, rather than needing a complete overhaul of your system as your business grows.
With the increased mobility offered by SaaS, every member of your organization can complete their work more efficiently. Processes become streamlined and valuable resources are fully utilized, increasing your profitability.
Customers also expect more sophistication from their software service, leading many to look elsewhere to meet their changing demands. If you’re able to change your service offerings as the needs of your customers change, which is achieved by the SaaS vendor, you’ll be able to retain your existing customers, gain new customers, and provide more value overall for better profitability.
Get Started With Izenda
With new business intelligence solutions hitting the market all the time and the trend of BI software continuing to grow, it’s more important than ever to choose the right SaaS company to be sure you’re set up to succeed.
At Izenda, we offer innovative BI solutions to enhance your application and provide more value to your end users. From our white-label integrations to our upfront pricing model, our BI software gives you the edge you need to stay ahead of your competitors. Request your demo today to see what we have to offer!