Software as a Service, or SaaS, is a type of cloud computing that provides users with access to software applications hosted on a remote server. These applications can be accessed through a web browser or a mobile app.
The SaaS industry continues to grow rapidly, attracting substantial investment even amid the COVID-19 pandemic. This demonstrates the continued confidence of investors in the industry's prospects.
By 2026, it is predicted that 50% of organizationswill centralize SaaS application management.
Sri Lanka has a long and rich history of software development dating back to the early 1980s. The country has a strong computer science and engineering base, contributing to developing thriving software industry.
Sri Lanka's software sector is snowballing, with exports reaching US$150 million in 2016. The country has several multinational companies, such as Nokia, Accenture, and WIPRO, as well as many local software firms.
The early days of SaaS in Sri Lanka were marked by a heavy reliance on foreign software providers. This was due to a lack of local providers that could meet the needs of businesses in the country.
However, this changed in recent years, with the rise of local providers that can offer competitive services. SaaS is now widely used in Sri Lanka, with businesses of all sizes using its capabilities.
The Sri Lankan software industry can be broadly divided into the pre-cloud era and the cloud era.
The pre-cloud era was dominated by desktop software applications and on-premise software solutions, and these were developed and sold by local companies.
In the early days of the dot com boom, the computer industry attempted to implement Software as a Service. The term was Application Service Providers (ASP) back then, but companies founded on the ASP model mostly failed.
The pre-Cloud era in Sri Lankan Companies was marked by a number of problems, including:
The cloud-based era began when these companies moved some of their operations to the cloud. This started with developing gaming solutions like Google Stadia, NVidia, GeForce Now, and Apple iCloud.
It has since progressed to the generation where companies invest considerable skills and expertise to develop, produce, and deploy cloud-based services. The playbook varies for each company but typically involves frictionless pushes to new technologies alongside modernized processes.
The Cloud era solved all of the Pre-Cloud era problems posed by Sri Lankan Companies by providing a more efficient and cost-effective way to store and manage data.
Cloud-based data storage and management systems are designed to be scalable and flexible, so they can easily accommodate the changing needs of businesses.
Additionally, cloud-based systems offer increased security and disaster recovery capabilities, which can further protect businesses from data loss.
Benefits of SaaS:The benefits of SaaS can be broken down into six main categories:
Cost:SaaS solutions are typically much cheaper than on-premise solutions. SaaS providers can spread the cost of developing and maintaining the software across all their customers, rather than just one organization.
Flexibility:SaaS solutions are typically much more flexible than on-premise solutions. This is because they can be easily accessed from any internet-enabled device, and organizations only have to pay for the necessary functionality.
Scalability: SaaS solutions are typically much more scalable than on-premise solutions. This is because SaaS providers can easily add more capacity to provide their customers with the same level of service.
Efficient:SaaS solutions are typically much more efficient than on-premise solutions. SaaS providers can apply computer science and technology to reduce service costs.
Secure:SaaS solutions are typically much more secure than on-premise solutions. SaaS providers work with proven security systems and experts to protect customers.
Helpful: SaaS solutions are typically beneficial to small businesses. This is because they can provide many of the same services that large businesses need, only at a much smaller scale.
Popular SaaS Applications:
Ever wondered what's all the hype about "SaaS"? You're not alone! Before delving deep into the 10 most popular SaaS applications, here's why SaaS is popular and preferred by many around the globe.
One of the key benefits of web-based SaaS applications is that they can be accessed by anyone, anywhere in the world. This eliminates the need to store data on a local computer, making it much more accessible and convenient.
Anyone with an internet connection and login credentials can use the software.
A Few Popular Examples of SaaS Applications:
Here are a few of the 10 Popular examples of SaaS applications:
This cloud-based CRM aims to boost sales for organizations by managing leads and prospects in one place. It is accredited by many as being the top CRM available.
USP: A top-grade platform that offers across-the-board customer relationship and sales team management solutions.
Since the outbreak of COVID-19, Zoom has become an essential part of our lives, providing a reliable and convenient platform for educational classes, professional meetings, and personal gatherings.
Backed by a robust cloud platform, Zoom provides users with virtual meetings, conferences, webinars, and event capabilities.
USP: All-in-one video communications platform with top-of-the-line features and a super-easy interface.
SaaS applications offered by Google have made the world a better place for people of all demographics and businesses of all domains.
G Suite is a productivity and collaboration platform that includes Gmail, Google Docs, Google Sheets, Google Drive, and more.
USP:G Suite's comprehensive product line offers individuals, small businesses, and enterprises an exhaustive ecosystem. Its availability on all devices and connectivity with Android help it stand out from the competition.
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