What is the Typical Budget of SMEs for adopting SaaS products in Singapore?
And What SMEs in Singapore Need to Know
The typical budget set by SMEs for SaaS in Singapore is approximately $400 — $1,000. This budget is usually used to purchase software that can help their business perform better. The range of the budget depends on the nature of the product purchased. For example, if the product is complex, the budget required will be more than that of a simple product.
How does cloud computing help in SaaS?
Cloud computing helps in SaaS by making it easier for SMEs to get access to software solutions with just a few clicks. The software can then be accessed from different devices by way of the internet.
This means that your business can access your business email and other files at any time of the day or night from anywhere in the world. Cloud computing also makes it easy for you to integrate your systems with other software and hardware on your network.
What are the points to consider before SMEs purchase SaaS?
Whether the software you need is available in the market or not
If it is, then it might be best to purchase it. However, if you need a specialised software that does not exist in the market, then you might want to look for a software developer who can customise your requirements for you.
How long has the business been in operation?
If it has been around for more than five years, then it would be best to purchase a SaaS of a higher level as you have been able to gauge your business and its needs and requirements better than before. This will help increase your productivity and improve your operations considerably with no downtime at all.
What stage are you at with respect to growing your SME
If you are still very small, it might be best to opt for a lower-level SaaS as opposed to a higher one which would cost more but offer very little benefit right now.
What are the advantages of using SaaS?
Your company saves money and time
As you do not need to spend a lot of time setting up your own IT infrastructure, you will be able to save a considerable amount of money on the cost of setting it up yourself. If you have software developers in-house, then there is no need for them to spend time in developing or customising the required software.
You can simply purchase the SaaS solution and get started with it right away. This will also save you time as well since the software is ready to use at any given time. All that is required from your end is some small changes and additions to suit your requirements. That too can be done by someone who has basic computer knowledge if necessary.
Increased productivity
Since there is no downtime with respect to your operations, you will be able to generate more profits as compared with working on an in-house setup which would mean lesser productivity due to downtime and system crashes etcetera. This will also help attract more clients who come in search of such companies that offer better services than others without any disruption whatsoever due to system failure or other such problems with respect to their operations or products etcetera.
Reduced expenditure
Since you will not have to spend time and money on setting up a separate IT infrastructure, you will be able to reduce your expenditure. This would mean that you will have more funds available for other business related activities like marketing, hiring, training etcetera.
How does SaaS help companies streamline their operations?
SaaS helps companies streamline their operations by making it easier for them to access information through the internet at any time of the day or night from anywhere in the world.
This means that the work of employees and workers is not affected if they are working from home or travelling around the world for business purposes or pleasure.
It also means that all their information is available to them no matter where they are located so they can easily access it at all times and make use of it when necessary.
This helps them with their decision making process since they are able to look at data pertaining to their company at all times which is a great advantage for them as compared with those who do not make use of SaaS in Singapore.
What are the challenges of adopting SaaS?
Security issues
Since your company’s data is stored on a remote server, there may be a risk of it getting hacked. This can affect your operations as well as the information regarding your clients and other important information pertaining to your business.
This is why it is best to make use of a system that offers state-of-the-art security features and protocols so that your data remains safe and secure at all times. If you have specialised needs for which there are no security systems available in the market, you might want to find a software developer who can customise one for you according to your need at an affordable rate.
Personalisation
If you require a different level of personalisation with respect to the software or product purchased, it might be difficult for you to get the correct product from just looking at the specifications offered by other providers without knowing how suitable they are for your requirements.
In such cases, it is better to opt for software development so that you can get exactly what you require without having to worry about anything else in particular when it comes to how suitable they are for your requirements or whether they will be able to meet them or not etcetera.
Which aspects should SMEs take into consideration when hiring a SaaS provider?
Reputation
You should always check the reputation of a company before you start working with it. This is important for your own safety and security as well as that of your company. You need to check whether there have been any complaints lodged against the company by customers for not fulfilling their requirements or delivering a sub-standard solution or product at all.
Type of service offered
If you are looking for a specific type of service, then it would be best to look at the type of services that a company offers before hiring them. For example, if you are looking for web hosting services, then it is best to hire a company that offers web hosting services only rather than one that also offers other products and solutions as well such as CRM etcetera.
This will help you get the kind of service and support you need without having to compromise on anything else which might delay your work or have an adverse effect on your business in general due to not getting what you require as requested etcetera.
Cost
Cost is another important aspect that should be taken into consideration when hiring SaaS providers in Singapore. It is best to consider whether the cost is affordable or not since it can affect your business quite considerably if you end up spending more than what you have budgeted for in this regard.
It is recommended to spend some time doing research so that you are able to find out how much various software developers are charging in this regard so that you get an idea about what can be afforded by your business and what cannot be afforded by it depending upon its size and financial position etcetera.
Expertise
Another important aspect to keep in mind is whether the software developer has sufficient expertise with respect to SaaS solutions or products or not?
If they do, then they will be able to provide top-notch services with respect to both products and solutions which will benefit your business significantly in many ways over time meaningfully so that you are able to make use of them for sure without any issues whatsoever arising out of them at all when using them from day one onwards etcetera without having any problems whatsoever arising out of them over time meaningfully so long as they suit your requirements.
Flexibility
You should also check whether the software developer is flexible with respect to their business hours and whether they are able to deliver services at the time you want them or not?
This aspect is important since if they are not flexible with their business hours or are unable to deliver services at the time you want them, then you will have to wait for a long time which might cause you to miss out on a lucrative business opportunity during this time.
In conclusion, it is imperative that you hire the right SaaS provider for your business since this will ensure that you are able to get the kind of services and support you need without having to compromise on anything else which might delay your work or have an adverse effect on your business in general due to not getting what you require as requested.
About the Author
I am the Founder of Cudy Technologies (www.cudy.co), a full-stack EdTech startup helping teachers and students teach and learn better. I am also a mentor and angel investor in other Startups of my other interests (Proptech, Fintech, HRtech, Ride-hailing, C2C marketplaces and SaaS). You can also find me on Cudy for early-stage Startup Founder mentorship and advice.
You can connect with me on Linkedin (https://www.linkedin.com/in/alexanderlhk) and let me know that you are a reader of my Medium posts in your invitation message.
