5 Trends Shaping Software as a Service for Businesses
The digital landscape is changing rapidly. Businesses and consumers alike expect to connect, interact and do business with whomever they choose, whenever they choose and wherever they may be - enabled through highly-available, highly-scalable enterprise Software as a Service (SaaS).
For larger business, you’d be hard pushed to find an organisation that is not using SaaS – or cloud-based - applications somewhere within their business, whether it be finance and accounting, marketing automation, payroll or people and performance management. As a result, being aware of the trends impacting enterprise SaaS is an imperative, regardless of where a business may be on its digital transformation journey.
Trend 1 – Global Services Integration
The IT industry is going through a digital revolution and as we look to the future, only those companies that can achieve massive economies of scale through SaaS will survive. In 2018, more companies will adopt highly scalable global service solutions to enable staff to use the same integrated enterprise application no matter where they are, while still maintaining the security and compliance objectives of their organisation.
A surge in new services such as natural language processing, will also become more commonplace to enable globalised companies to easily overcome language and cultural barriers, providing a compelling experience for all users of their software.
Trend 2 – Enhanced Security and Privacy
We have reached a tipping point in the industry where the cloud, when done right, can be more private and secure than any on-premises environment. In fact, businesses now run more risk by not being on SaaS, as vendors can focus their security approach on their specific products instead of simply relying on generic, broad spectrum security appliances.
As situational awareness on the cloud and artificial intelligence intersect to predict and exclude outliers of behaviour and make the cloud more secure, more companies will make the switch to the cloud as the superior platform to conduct business. Demonstrating the maturity of SaaS, TechnologyOne’s cloud business doubled for the third consecutive year in 2017, with many more customers expected to make the transition in 2018.
Trend 3 – Businesses consuming services that are ‘always-on’
Just like consumers expect platforms like Facebook, GPS or music streaming to be available 24/7, enterprise customers expect their SaaS solutions to be accessible at all times too. In 2018, ‘always-on’ availability will be a key strategic driving force for enterprise SaaS.
In the last few months we have seen a shift in language around availability, with organisations no longer expecting a promise of availability in percentage terms, but instead expecting enterprise SaaS solutions that are ‘always on’. This means no downtime or failures, unleashing the mass production power of the cloud to ensure that server replacements or crossovers are seamless to the end user.
Trend 4 – Event Driven Architecture
Event Driven Architecture, whereby a software architecture pattern detects and responds to events in real-time, is a new paradigm being used to form insights on demand dynamically. In 2018, this will shift the way in which software providers design applications that access data from server-oriented to service-oriented models, consuming a service that is event-driven and timely.
TechnologyOne has already leveraged this model via parallel processing within its Student Management product, enabling information processing to happen automatically in parallel. The outcome has reduced tedious paper-based processing of student admissions for administrative staff.
Trend 5 – Artificial Intelligence and Machine Learning for advanced analytics and task optimisation
In 2018 and beyond, more companies will focus on using AI to add value to their business through advanced analytics. According to Gartner’s technology Trends for 2018, Narrow AI will be where the action is as highly scoped machined-learning solutions are used to target specific tasks (such as understanding a language) with algorithms optimised for those tasks. Companies who invest heavily in R&D and have rich existing data sources to draw on will be best positioned to adopt AI.
With TechnologyOne’s deep understanding of its core markets and long-standing relationships with customers - thanks to a 99% retention rate and 30-year company history - it is in a strong position to take advantage of AI technology within its software, as this new paradigm takes off.
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About Iain Rouse
Iain is TechnologyOne's (ASX:TNE) Group Director Cloud. Reporting to the CEO, he has led the development of TechnologyOne's global cloud platform and the company’s transition to delivering a leading enterprise Software as a Service (SaaS) solution.
In 2012, Iain established TechnologyOne’s cloud team and foundation architecture, and has driven the continued innovation of this team. Iain also leads teams across independent release quality, on premise installations, cloud transition, the Enterprise App Store and internal R&D systems, and is a member of the R&D executive team and TechnologyOne's senior leadership team.
TechnologyOne (ASX:TNE) is Australia's largest enterprise software company and one of Australia's top 200 ASX-listed companies, with offices across six countries. We create solutions that transform business and make life simple for our customers. We do this by providing powerful, deeply integrated enterprise software that is incredibly easy to use. Over 1,200 leading corporations, government departments and statutory authorities are powered by our software.
We participate in only eight key markets: government, local government, financial services, education, health and community services, asset intensive industries, project intensive industries and corporates. For these markets we develop, market, sell, implement, support and run our preconfigured solutions, which reduce time, cost and risk for our customers.
For 30 years, we have been providing our customers enterprise software that evolves and adapts to new and emerging technologies, allowing them to focus on their business and not technology. Today, our software is available on the TechnologyOne Cloud and across smart mobile devices.
For further information please visit: TechnologyOneCorp.com
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