March 2021 - Tranquil

8 Benefits Of Software As A Service

Posted on March 19, 2021November 27, 2024 by TRANQUIL

These days, companies are adopting various software systems to overshadow their contenders.

While selecting new software, companies may get a choice between how they want to access it – locally or hosted.

In case of on-premise or locally access, the software is purchased and then installed on each user’s computer.

Generally, software licenses are limited to only one user or device.

On the other hand, with a hosted solution (Software as a Service [SaaS]), software lives on the cloud and users can access it anywhere as per their convenience via the internet.

In earlier days, companies used to prefer locally accessed software.

But as technology is thriving day by day, the needs of businesses have also changed.

Hence, companies are adopting this SaaS solution to run their businesses in a hassle-free way.

What is Software as a Service (SaaS)?

SaaS is a software licensing and delivering model in which

Software is licensed either monthly or annual subscription basis
Hosted centrally in a cloud
Can easily access via the internet connection

SaaS is the perfect alternative to conventional on-premise software solutions.

It has become a very popular method of delivering many business applications, including:

office and corporate communication software
payroll and accounting programs
customer relationship management software
HR management software
enterprise resource planning programmes
corporate performance management programmes
mobile applications

SaaS provides a plethora of advantages over traditional on-premise software.

A prime advantage of SaaS over traditional software delivery methods is that companies can discontinue the subscription if service is no longer required.

This feature saves a lot of money for companies as they don’t need to sign permanent contracts or don’t need to face licensing issues.

SaaS is quite different from conventional purchasing software and thus it provides a chunk of advantages to a company that uses it.

ALSO READ: Future ERP Trends

Benefits of SaaS

1. Cost-effective

By choosing SaaS, a company can save a lot of money for various reasons.

SaaS eradicates the upfront costs that a user needs to pay for purchase and installation.

With SaaS, now you don’t need to spend a chunk of money on hardware resources, rather it is quite easily downloadable.

Moreover, it is maintenance-free from the user’s end.

Secondly, SaaS encourages the pay-as-you-go model.

This means businesses should only pay for the software that they are using.

With SaaS, there is very less chance of wasting resources on unused licensing.

For small businesses, SaaS is indubitably beneficial.

Because these companies can now access high-powered software that is not only expensive but inaccessible through traditional methods of purchase.

ALSO READ: A Detailed Guide to Point-of-Sale Systems

Since SaaS is a subscription-based software, it abolishes the financial risk of expensive software.

Moreover, the SaaS vendor manages and handles all intricacy of the required IT infrastructure.

When a company deploys business applications through SaaS, they don’t need to worry about the resource-consuming and maintenance of hardware.

Since the maintenance is taken care of by the SaaS vendor, companies can free up resources which they can utilize in other processes.

2. Time Management

On-premise systems installation takes more time and effort.

Because the software needs to be installed on each user’s computer.

Moreover, you need to do a lot of tasks including maintaining database servers, backing up the data, etc.

That’s why the on-premise installation is more expensive as compared to SaaS.

On the other hand, for installing a SaaS application, you just only need a stable internet connection.

Moreover, with SaaS, you don’t need to worry about maintenance as everything is taken care of by the SaaS vendor which is quite opposite to the traditional software installation.

Thus, with SaaS, you don’t need to work extra hours to upgrade the software.

ALSO READ: What Every Business Should Know About CPQ?

3. Scalability & Accessibility

Another prime feature of SaaS is that it offers astonishing flexibility.

SaaS software is externally hosted by the vendor, that’s why companies opting for SaaS can change their usage plan without giving any advance notice.

Moreover, SaaS software solutions can be easily accessed from anywhere in the world.

By using SaaS, users can access their data and work proficiently from anywhere.

This software is ideal for home workers and people who used to work at multiple sites.

4. High Compatibility

If you choose a traditional method of software installation, updates are quite time-taken and expensive.

There will be compatibility issues because of version discrepancies between members of the workforce.

But with SaaS, a user needs to login to the latest upgraded version of the SaaS solution.

The SaaS vendor is responsible for managing updates and upgrading the software.

SaaS offers end-users to access the most up-to-date version of the software.

Since SaaS you don’t need to worry about software maintenance and incompatibility, thus you can focus more on the core activity of the businesses.

ALSO READ: What Are the Stages of Fixed Asset Lifecycle?

5. Guaranteed Service, Backup, and Data Recovery

SaaS offers the user a guarantee on how well it will work.

But most of the traditional software doesn’t provide this kind of guarantee.

With traditional software, (unless you adopt an expensive automated solution) weekly data backup process is time-consuming and a tiresome task.

By using SaaS software solutions, businesses can avoid this task completely.

Because SaaS supports automated data backups without user intervention. Thus, you will never lose any imperative data.

6. Amplified Security

If you want to keep all your business information safely, then SaaS solutions could be the best option for you.

Because this keeps your information safer than traditional software.

If any unfortunate incident happens in one data centre, the other data centres continue to operate and deliver services.

7. High Adoption Rates

You should know that SaaS solutions are delivered over the web.

That’s why employees are accustomed to this software because they are already used to working on the internet.

Thus, SaaS is highly welcomed and appreciated by the workforce.

ALSO READ: What is Dead Stock?

8. Try it Before you Purchase

Most of the SaaS service providers embrace the users with free trials of the products of the full version.

Thus, companies can take advantage of ‘prep time’ to see the viability of the solution.

This will also help them to understand how this goes well with their organization programs before investing a single penny on it.

In Short

SaaS software application is hosted by the SaaS service provider. Every company can access this software through the internet
SaaS encourages rapid deployment. The set-up can be done easily and the initial cost is also minimal.
Because of the large IT infrastructure and resources of the vendor, SaaS is quite stable.
If an organization uses SaaS, it doesn’t require any expensive hardware with virtually no software maintenance expenses
SaaS subscriptions are available on a monthly or annual basis.
Updates and troubleshooting can be controlled by the SaaS service provider
SaaS is ideal for many business applications including CRM, accounting, sales and more
SaaS solutions are based on a multitenant architecture. This means all clients have a single version of the application.
SaaS embraces the clients with low time to development.
If any disaster or mishap happens in the premise, the data remains safe because SaaS is cloud-based.
The adoption rate of SaaS is very high.
SaaS offers all the inherent flexibility of cloud-based services
Since SaaS apps are multi-platform compatible, hence, they can be accessed anywhere through the internet.
Since SaaS is highly scalable, businesses can easily upgrade SaaS offerings as they evolve.
Organizations that have inadequate IT staff can rely on SaaS providers for updates and maintenance.
SaaS updates are available to all clients at the same time.

SaaS comes with many astounding features like easy upgrades, lower costs, and better scalability; thus, businesses are relying more on SaaS applications.

Many small and medium-sized companies are adopting SaaS instead of investing a humongous amount in hardware and traditional software licenses.

If SaaS implementation has done correctly, it helps companies to meet their requirements and also takes them to the zenith of success.

Tranquil is an established cloud-based ERP software system that helps you to manage your projects and business seamlessly. Moreover, with this software, you can access your business data anywhere, any time. To know more about the product, you must visit the official website of the company.

Tourism Shapers Encourages and Helps Saudi Arabia’s Tourism Sector to Flourish

Posted on March 16, 2021November 22, 2024 by TRANQUIL

Dammam: The Saudi Tourism Authority (STA) establishes Tourism Shapers that will promote and encourage the development of local trade partners in the private tourism sector. The initiative will boost up the idea when the Kingdom is developing and refurbishing its destinations for local, regional and international tourists.

Last June, Saudi Arabia invested $4 billion into the tourism sector through the tourism development fund. This investment will create a plethora of opportunities for tourism businesses. “Across the Kingdom, we are seeing different types of small-to-medium-sized businesses transform their working models and offering so that tourism is at the heart of their core product,” said Fahd Hamidaddin, the authority’s CEO.

Businesses are contemplating differently about the future and are trying to grab the immense growth opportunities in the tourism sector. They are now evolving and have started to think of new innovative strategies that will meet the needs of their customer. Tourism Shapers not only encourages the growth of the tourism ecosystem but also motivating small-to-medium-sized businesses to unlock the opportunities within this industry.

Hessa Alajaji, an ardent traveller invented a premium tour agency that organises tourism in the Kingdom for Saudis and tourists. She said “Traveling the Kingdom has made me realize the importance of not only exploring the Kingdom but learning about the different cultures and makeup of Saudi Arabia.” She founded her agency almost two years ago to explore various culture and philosophy of Saudi Arabia.

The kingdom’s tourism sector is an unexploited market that is thriving exponentially and provides enormous opportunities. There are so many things to do and explore and you can discover every region by taking help from local agencies. This will certainly give the visitors an enthralling experience.

Tourism Shapers is just one initiative from STA that is sharing various ideas and insights which will encourage visitors to come and explore various things. The initiative is running a series of webinars. The first one was held in February that focused on a variety of topics to engage the audience with best practices, prime insights, and other imperative information that will help them in knowing the tourism industry’s evolution.

Some eminent people who attend the first session were Aya Sadder (a travel proficient and founder of start-up enabler Why Bolt), Noor Nugali (the assistant editor-in-chief of Arab News), and Abdulrahman Bakhsh (the private sector partnerships directors at STA). Sadder was the keynote speaker who highlighted how businesses need to be more agile during uncertain times. As per her opinion, the future of the industry will focus on building more robust communities. This will enhance the growth of businesses through innovative skills, effective partnerships and digitalisation.

The next webinar will be held on 17th March 2021 at 7 p.m. which focuses on pricing strategy for tourism businesses.

Influence and Importance of ERP System in Different Industries

Posted on March 10, 2021November 27, 2024 by TRANQUIL

Enterprise resource planning is a buzzing word over the few years that has penetrated every sphere of businesses.

Enterprise resource planning system software is a customized application that allows businesses to integrate and manage their imperative processes under one roof.

So, in a nutshell, an ERP system in business is a software tool that centralizes a company’s database of information, automates tedious tasks and streamlines business processes.

The prime goal of using enterprise resource management software tool is to optimize various business operations and free up employee time which they can utilize in other ways.

In earlier days, ERP software systems are welcomed by big companies because these systems are expensive to run.

But after knowing the benefits of an ERP system, many companies (irrespective of their size and nature of business) are adopting the best ERP software systems to run their businesses in a hassle-free way.

These days the top ERP software systems are highly used by various sectors including manufacturing, healthcare, retail, oil & gas, construction, and government sectors.

By using ERP systems, every company is trying to find out the best solutions which will meet their business needs and help them to thrive in this competitive market.

Impact and Influence of ERP in Various Industries

Manufacturing Industry

ERP software has a plethora of benefits in the manufacturing sector.

By using a cloud-based ERP, a company can manage various departments like finance, purchasing, production, etc. with ease.

A study was conducted by Aberdeen Group and it was found that 48% of manufacturing companies claim industry-specific ERP software systems are helping them in doing business more efficiently.

Benefits of ERP for the Manufacturing Industry

Automates and Streamline Various Business Processes:

by using ERP software systems, manufacturing companies can streamline their business processes. Now, all imperative data is available in a centralized location that can easily be accessible and will give you an idea about various (development, designing, inventory, procurement, production, finance, sales, delivery and more) departments. Moreover, any person can monitor the production status in real-time without depending on another person or team. An ERP system enhances proficiency, improves productivity and helps companies maintain a healthy relationship with the clients. Since ERP makes every process automated, the company now reduces its dependence on manual processes.
Business-Driven Decisions:

A comprehensive ERP software solution for the manufacturing industry improves the decision-making capacity of a company. By providing thorough insights and visibility into every department, this system helps companies to make robust and business-oriented decisions. Moreover, ERP software helps manufacturing companies remain aligned to their goals and take necessary internal decisions if required.
Reduce Cost:

ERP software helps manufacturing companies to lessen their overall operational costs. Because now time-taken jobs are replaced by automated and streamlined processes. This will give you real-time business information which will improve productivity and efficiency. By enhancing worker productivity, the ERP software for the manufacturing industry curtails labour expenses, and improved precision and lower error rates.

ALSO READ: Why is ERP System For Automotive Industry Important?

Improve Customer Satisfaction:

Exact production planning, improved control over inventory, streamlined process scheduling, and well coordination between distribution channels enables manufacturers to improve on-time delivery of products. Delivering products on time is a crucial parameter to maintain a good relationship with your customers. And, this will certainly satisfy your customers and they will remain loyal to your company.

These are some of the benefits that a manufacturing company can get by adopting an ERP software system.

ERP in the Healthcare System

The healthcare system is burgeoning rapidly day by day and ERP software solutions are making a huge contribution to this growth.

Here, we are mentioning how ERP can benefit healthcare and related industries.

Improved Patient Safety:

Patient safety is the prime concern for all healthcare companies. An ERP software system improves communication between the patient and clinics and makes it more transparent.
Easy to Access Medical Record:

when a patient makes a call to the clinic for seeking medical attention, the clinic must be able to pull up that person’s record immediately. That’s why many healthcare companies are transferring all their paper-based and manual systems onto the ERP software system. This system helps them to access all the data they need by using a single click.
Patient Confidentiality:

All medical records and data of the patients are confidential. A data breach will not only tarnish your market reputation but also will misuse this data. So, if you move all the records onto a good ERP software system, you can set advanced user controls that can be accessed by only authorized personnel.

ALSO READ: ERP Implementation in Agriculture Business

Cost Reduction:

The ERP software system helps healthcare companies to reduce the hospital’s operational costs. The management can lessen the incurred costs caused by inventory and administrative errors. Because an effective ERP software system can monitor finances and inventory levels precisely. Moreover, ERP software also optimizes multiple operations at the back-end, like accounts, payroll, and inventory management.
Strategic Planning:

ERP is an imperative tool that will identify the areas where improvements are needed and necessary. This will certainly improve the overall effectiveness and efficiency of the organization. If problems are identified, then management can easily monitor whether the changes that will be made will be effective or not.

ERP in the Retail Sector

ERP has become an integral part of the retail industry.

As competition is rising day by day, ERP solutions are helping the retail businesses to sustain in the market ad also helping them in satisfying the customers’ need.

Let’s dig deeper into how ERP is beneficial for retail businesses.

Better Inventory Management:

inventory plays an imperative role in any retail business. If you can control it, then you can stockpile enough to meet anticipated orders. An effective ERP software addresses this challenge very easily. An ERP system stores detailed information about every product that is available in stock. This will ensure customers to know exactly what items are stored in the inventory and what needs to be re-stocked. Moreover, this tool helps you to identify your customers’ interest by analysing his/her buying trends in the past. Thus, you can modify your inventory as per your customer’s demands.
Integrates Multiple Channels:

Retail business owners often need multiple channels functioning simultaneously to ensure all operations run in a hassle-free way. An ERP system for retail integrates all these channels into a unified platform. This allows various departments to share information in real-time.

ALSO READ: Importance of ERP Software in Textile Industry

Automate Sales and Payment Recording:

POS system automatically records all sales transaction details; thus, it minimizes human errors and extra effort. An ERP software system that is integrated with a POS tool makes sales transactions faster and easier. By using this software solution, retailers can minimize customers’ waiting time for purchase billing. Moreover, this system also provides real-time data.
Effortless Pricing and Discount Management:

Retail business requires a dynamic pricing system. This can be a tiresome job if you do this manually. A robust ERP solution can automate the process of recording the price of products along with discounts available on them. This makes the entire process simple and effortless.

ERP in the Construction Industry

The construction industry is challenging and competitive.

An ERP software solution provides a plethora of advantages from planning, project control, to cost and revenue estimation.

Proper Planning and Analysis:

Improper planning not only leads to substandard completion of projects but also tarnish the reputation of the construction company. Builders can suffer from heavy losses in the form of labour costs and may lose clientele due to untimely completion of projects A construction ERP software can be implemented that can control all the expenses and budgetary allocation. This may also help in avoiding unnecessary downtime and contractual issues with clients.
Streamlines All the Data:

Reputed construction companies often need to handle more than one client at a time. As a result, the exchange of information within the organization can become dreary and time-consuming. It’s a cumbersome job for the employees to manage and compile data (either in the form of individual excel sheets or Power point presentations) for multiple assignments. If a company needs to use different software solutions for multiple operations at the same time, then this can lead to an ineffective exchange of information among various departments. A construction ERP software solution manages all these tasks effectively.

ALSO READ: Does the Real Estate Industry Need ERP Software?

Estimates Construction Cost and Revenue Generation:

Usually, construction companies work on a contractual basis with their clients. An Enterprise Resource management software will help them to determine accurate estimation that is required for raw materials, designs, labour, and the duration of the time. This will help the companies to calculate the actual costs that will not deviate much from the projected costs. Apart from cost estimation, the construction ERP software also allows developers to find out how much profit or loss they get from a project. This way, they will calculate the cost and time for future projects more wisely.
Enhancing ROI:

ROI can also be measured in the form of other benefits. Every developer wants to increase their ROI from time to time. ERP software will help them to achieve this thing. ERP software helps construction companies to eradicate manual, time-consuming and labour-oriented processes. It also helps them in controlling expenditures in terms of raw materials and employees, minimizes IT costs, lessens unnecessary time, and thus, allows them to meet project deadlines.

ERP in the Energy and Oil & Gas Industry

As the demand for energy-related and oil & gas products and services are increasing exponentially, energy manufacturing companies are realizing the needs for ERP software. This kind of software makes operations smoother and more efficient.

Easy Integration:

ERP software systems are designed in such a way that they can easily integrate with third-party applications in terms of cost and schedules. This helps companies to manage resources and overall costs. Moreover, this kind of software also allows companies to meet deadlines and deliveries.
Efficient Project Management:

By using the top ERP software systems, the companies can effectively manage both their onshore and offshore projects. They can easily manage all parameters including schedules, finances, inter-department communication, and resources. This helps them to complete the project within the time and budget.

ALSO READ: Benefits of ERP for Chemical Industry

Risk Management:

By using efficient ERP software, construction companies can identify project risks well in advance. Moreover, they can also get in-depth information on the potential success of a project. The software also embraces the clients to come up with exigency plans in case of emergencies.
Provides Assistance in New Employee Training:

When a company hires new engineers, ERP software systems can be used to ensure that all the critical and imperative technical information is passed on to the novice employees. This software can integrate the new employees into the whole energy exploration, production, and monitoring process.

ERP in the Government Sector

Unlike private companies, the public sector organizations and government bodies are also impressed with the features of ERP. It improves efficiency, reduces cost, increases transparency, and provides better security.

Cost Savings:

As per the Gartner studies, half of the public sector companies are using cloud-based ERP solutions to save money. ERP solution minimizes the total cost, significantly reduces implementation times and provides better integration with other systems.
Strategic IT Implementation:

ERP systems are helping both state and local government with the technology which will improve many things like how they utilize their budget, how they allocate their resources, and how they respond to demand. Now, blockchain, artificial intelligence, machine learning, and augmented reality are entering the government agencies and thus, these technologies are refurbishing their operations and other processes.
Increased Data Security:

Cybersecurity is a prime concern for both state and local governments. The governments are taking every possible step to minimize the risk of data breaches. Using ERP systems, the public sector can implement world-class security and threat protection services.

The above article gave you an idea about the impact and influence of ERP in various sectors.

ERP systems can bring several improvements in multiple business areas, so companies should adopt ERP solutions to run their businesses effectively.

Tranquil is a prominent cloud-based ERP software system that helps you to manage your projects and business work in a hassle-free way. Moreover, with this software, you can access your business data anywhere, any time. If you want to manage an ERP software system, you can get in touch with Tranquil software.

Month: March 2021

8 Benefits Of Software As A Service

What is Software as a Service (SaaS)?