April 6, 2020

The benefits of SaaS in b2b retail

There is no doubt that the marketplace isn’t what it used to be. Where business transactions used to purely involve buying and selling; now there is a lot more attached to the process. Evolving market needs and shifts in the economy gave rise to the need for improved processes. Retailers are having to manage increasingly complex supplier networks, consumer expectations and changing legal regulations.

For any business to be truly successful in today’s world, it needs to adapt to these complexities and adapt different strategies to stay relevant. Traditional software was introduced as one solution, as well as to make business processes more efficient. Subsequently, a particular type of software evolved in the form of SaaS (software as a service).

This article will focus on the applicability and benefits of SaaS for B2B (business to business) companies in particular. The B2B model entails relationships between suppliers and retailers and/or buyers. It is crucial to have efficient systems that can manage these relationships efficiently, and that is where SaaS comes in.  

What is the meaning of SaaS?

Simply put, SaaS is a special software licensing and delivery system where software is hosted centrally and is licensed on a subscription basis. Essentially, subscribers are given the option to lease or rent the software for use rather than buying it outright.

Data can then be accessed with any device that has the internet on it. Speed and ease of use was the main motivation behind the development of SaaS solutions. These solutions automate internal business functions, with positive  impacts on productivity and output.

In using SaaS, integration with other platforms can also be achieved more efficiently, without costly infrastructure and hardware. In fact, this is one of the ways SaaS differs from traditional software.

SaaS v Traditional Software

Some of the benefits of SaaS over conventional software licensing models include the following:

  • It’s Actually Cheaper

As all business minded people know, turning a profit doesn’t always come from just selling your product or service at a high price. Managing the cost of what goes into putting your product on the market is also important. SaaS let’s you do this successfully. SaaS is significantly cheaper when compared to other traditional models. There are many reasons for this.

SaaS makes it possible for businesses to bypass the rigors of setting up expensive hardware installations. Consequently, the expenses that come with servicing and maintenance of pricey equipment is removed. Traditional software is well-known for time consuming and pricey set up configurations.

Also, SaaS gives businesses the opportunity to pay for only services they actually use. This ensures that businesses get their money’s worth on specific services. This can be especially advantageous to small start-ups that don’t have quite as much to spend.

  • Ease of Accessibility

One thing that sets SaaS solutions apart is the accessibility. SaaS lends itself to be easily used on any device (computers, phones, tablets; you name it!) and from literally any location. Provided you have uninterrupted access to internet services, the flow on benefits are seamless. Conventional software is more localized.

This gives business owners the opportunity to always be close to their business, regardless of where they are. What’s more, with SaaS, you can modify your usage plan with a minimum of fuss, giving you complete control. This is a luxury that conventional tools cannot provide.

  • Saving of Time

SaaS applications essentially simplify everything. With conventional software, upgrading software is a lengthy process.This is because the installations were too customized.  SaaS application upgrades take far less time because the code base is centralized. This means no more waiting long periods before an update installation is complete. No more carrying out lengthy maintenance procedures. This frees up a business owner's time, letting them focus on management and profit turning activities. After all, profit making is the life-blood of any business.

Practical Uses of SaaS Solutions

SaaS applications are particularly invaluable for both physical as well as online retail businesses as they offer massive benefits such as:

  • Increasing levels of communication
  • Facilitating platforms for building authority, respect and trust
  • Making management infinitely easier

The list goes on and on. In addition, certain well-known B2B brands have jumped on the SaaS bandwagon. Some of these B2B companies include:

  • Salesforce
  • Zoom
  • Atlassian
  • Twilio
  • Dropbox

This is to mention just a few. Every business can benefit from SaaS applications. If you are part of a B2B model, what you need is the right SaaS solution to become a real success. We offer that and a whole lot more on Trace One Network. Here, we provide the ideal collaborative platform for retailers and CPG buyers and sellers. We are recognized by almost all the major retailers and our reputation speaks for itself.

We afford suppliers the means to gain exposure to new and interesting concepts that can re-define their entire industry. Suppliers are given all they need to market what they offer at a low and reasonable cost.

On Trace One Network we welcome innovative buyers and help them make their dreams come true. We link buyers with the perfect suppliers to deliver products of the highest quality and standard for only a fraction of the cost. The services are fast, reliable and are easily accessible, even on a global scale. We are a comprehensive platform that supports community management and analytics, product information management and product life-cycle management. Here is how we accomplish this:

We help suppliers:

  • Find new customers with ease

We handle complicated aspects of certain processes and ensure that, with minimal effort on your end, you have unfettered access to customers that can help you grow your business.

  • Improve and increase sales

Our platform ensures that your product is accorded the value it deserves. Once the

the value of your product is established, a massive boost in your sales is what follows.

  • Reduce the costs to market

With us, you will always be certain that your profit maximization is our top priority. Gone are the days when businesses could sell without closely monitoring cost calculations. Reducing costs is crucial when increased competition and price are differentiators in the market. Our SaaS solutions help with this.

We help Buyers:

  • Find more products

With the layout our platform offers, you are given the opportunity to explore and find products that meet your vision.

  • Find business partners

Our platform puts you in the right position to meet other businesses whose goals align with yours. From partnerships like these, your business can grow and you will see significant increase in your profits.

  • Stay relevant in your niche

We will constantly keep you on top of things. Sound decisions are easier made when you have accurate data at your disposal. You will be kept in the loop because we will ensure you have the necessary insights into the industry to guide your business.

In Concluding

It is truly amazing how business systems and processes have been impacted by software. Traditional software pioneered this change and had its merits. However, the introduction of SaaS was a real game-changer.

As we have shown in this article, SaaS solutions have given businesses the gift of speed and efficiency. In turn, this has bestowed more time for businesses to focus on what they do best: make a profit. This is a win-win for all parties involved, be it suppliers, retailers, sellers or buyers.

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