There are many changes that make up our ‘new normal.’ The abrupt and nearly complete shift into the work-from-home (WFH) era is just one of them. In only a few months’ time, companies of all sizes worldwide moved some, or all, of their workforce to remote positions. It seems that for many, this change is here to stay. A May 2020 survey by IBM found that 75% of adults want to continue to work remotely at least occasionally, while 54% would like this to be their primary way of working.
For SaaS (software-as-a-service) companies, this is an enormous opportunity but only if they intentionally make moves to upend the status quo and take market share.
Upending Onsite Security
Corporate cybersecurity products were initially designed to operate from the corporate network. The WFH movement has resulted in heavy reliance on residential and public internet connectivity. Consumer routers just won’t cut it. Strong security requires commercial-grade, dedicated internet access that needs multiple layers of continuously monitored network security protection.
How can the SaaS industry capitalize? Offer a broader range of services to ensure the security of endpoints and corporate data. This includes patch management, VPNs (virtual private networks), CASBs (cloud access security brokers), password managers, identity and access management services and advanced threat detection on devices.
Upending Old-School Sales Models
Upfront annual billing and minimum spend commitments are still hallmark economic models of the software industry. The new normal will require SaaS companies to be more creative as businesses increasingly require more flexible engagement and payment options.
How can the SaaS industry capitalize? Offer zero-friction, no-commitment trials, free seats and introductory offers to accelerate the onboarding of new customers. Companies that supply true pay-as-you-go will gain more market share.
Upending Traditional Delivery Models
Many SaaS products require customization and integration to match customer needs. The new normal of social distancing, travel restrictions and limited customers in offices make delivering on these needs difficult.
How can the SaaS industry capitalize? Vendors can develop more efficient, effective and productive customer success models. They now have the opportunity to address the above issues on a broader scale through flexible, remote support and delivery services that leverage video conferencing tools.
The increased reliance on remote technologies is an opportunity that should not be overlooked. Companies that aim to be flexible and support increased demand will have the first shot at taking market share.