Cloud Topics

Why SaaS Will Thrive in a Remote Work Economy

By Nicole Lim / April 27, 2020

The new working-from-home economy that was spurred by the COVID-19 pandemic may be here to stay. According to this research from Stanford, in 2020, 42% of the U.S. labor force worked from home full-time. Remote work was novel before the pandemic, and some employers had reservations about the effectiveness of an at-home labor force.

However, with the advent of remote work options specifically put in place for public health — a number of businesses and corporations have found benefits in the remote work economy, and are developing plans and working towards solutions to maintain and sustain it. Many firms expect working-from-home to triple in the coming years, considering that nearly 40% of U.S. jobs can be performed from home.

This transition to a digital work environment does require some planning and flexibility on behalf of both employers and employees. New technologies and methods of conducting business are vital to the health of remote business operations: cloud marketplaces where users can find, manage, and shop for digital applications; digital commerce platforms, where everything from subscription services to digital tools are hosted; collaboration and communication tools that allow distributed teams and workforces to seamlessly function; and of course, cybersecurity solutions underlying all the various systems, tools, and marketplaces so that work can carry on safely.

The backbone of many of these operations in the digital world of work will rely heavily on software as a service (SaaS) platforms and systems, indicating that the SaaS marketplaces and the SaaS industry will thrive in the remote-work economy, and be a driving force in phasing out legacy systems across many industries.

The Growth of the SaaS Industry

The global software as a service market size is projected to reach $307.3 billion by 2026, a notable increase from $158.2 billion in 2020. An overview of the driving forces of the SaaS market include:

• Innovations, growth, and convergence of AI and SaaS for business applications.
• Increased use of mobile devices and mobile compatibility.
• Cloud services adoption.
• Increased access to high-speed internet via 5G networks.
• Increases in the gig and remote work economy.
• The need for different industries from retail, hospitality, financial, technology, communications, and healthcare industries to transform their IT structures without high overhead costs. This may include:
  • SaaS solutions for Human Capital Management (HCM).
  • SaaS solutions for Customer Relationship Management (CRM).
  • SaaS solutions for Human Resources Management (HRM)
  • SaaS solutions for Supply Chain Management (SCM)

The adoption of SaaS in remote workplaces provides many benefits for employers and employees alike.

Employee Benefits

• Many SaaS systems are easy to integrate and learn to use; SaaS marketplaces may also provide support and training solutions that help aid the transition and learning curve for users.
• Many SaaS apps are compatible across multiple devices so workers can work anytime or anywhere as long as they have the internet and may reduce commuting times.
• SaaS programs can foster communication and collaboration between teams and coworkers.
• SaaS can support task management, reducing the need for unnecessary meetings.
• Using SaaS can streamline common tasks, or even support a transition to business process automation (BPA) to help to reduce human errors.
• SaaS can reduce manual tasks through operation, giving employees more time to focus on important projects.

Employer Benefits

• Adopting SaaS for business operations does not have to come at a high expense. In addition to free apps that are available such as many Google Apps, there are also marketplace software and subscription commerce services that can be utilized and adapted to scale so the business doesn’t outgrow SaaS solutions.
• SaaS tools can be integrated into current systems, or be used to phase out legacy systems depending on organizational needs.
• SaaS can offer privacy, data security, security maintenance, and perform automatic updates.
• SaaS can minimize typical office expenses like rent, paper, or utilities.
• SaaS can help maintain worker productivity.

Common SaaS Tools That Support Remote Work

There are many SaaS tools that can be integrated into a business structure to support remote work, facilitate communication, promote productivity, and ensure data safety and collaboration.

Project Management and Team Collaboration

• Trello supports both project management as well as team collaboration. Tasks can be assigned to individuals as well as groups with deadline alerts and notifications. Workers can easily access information and documents to streamline collaboration.
• BIT.AI is a smart document collaboration platform that enables teams to work on and communicate seamlessly across smart documents.

Communication

• Slack offers encrypted data transfer, activity logging, and a fast, effective, and fun platform of communication. Slack is also mobile-friendly and easy to integrate with a variety of devices.
• Zoom offers an easy way to bring teams together and conduct meetings with audio and video capabilities as well as cross-platform messaging and file sharing.

Calendar and Schedule Management

• Calendly assists businesses in organizing meetings and conferences with remote teams across time zones. The app is easily integrated into other common tools such as Google calendar, Outlook, Office 365, and iCloud calendars.
• OnceHub provides appointment and scheduling assistance integrated software.

Encryption, Authentication, and Document Signing

• Encrypt.me establishes a Virtual Private Network (VPN) for all working devices that allows for a secure connection on any network.
• Adobe Document Sign assists businesses by authenticating forms, contracts, and letters and allows businesses to safely share, provide, and obtain signed documents.

Web Analytics and Customer Relationships Management

• Google Analytics can be used to gain insight through performance analytics for a business’ website. This data can be used to track traffic and target audiences, filter audiences by location, examine advertising ROI, and discover the effectiveness of social networking, videos, and other apps on the site.
• Mopinion allows businesses to analyze user experience with your website and emails, and offers other customer relationship management tools such as customer surveys.

Human Resources

• Breathe assists HR administrators and professionals by storing important documents and forms, supporting recruitment and performance initiatives, and helps keep employees engaged and productive.
• Namely provides assistance with workplace compliance, streamlining payroll services, and increases employee engagement.