There is an increasing demand for SaaS software in the market today. From small businesses who can’t afford traditional software, to big enterprises that need work to be done precisely, SaaS is often an affordable solution for both. Here’s everything you need to know about SaaS:

1. What is SaaS software?

SaaS refers to Software as a Service, sometimes referred to as on-demand software. It relates to providing software to companies and businesses that is essential for their day-to-day transactions. The license, however, works on a subscription model and requires periodic renewals. Some of the most common SaaS categories include accounting, collaboration, payroll processing and time & attendance management.

2. How does SaaS software work?

Companies who want to use SaaS software in their businesses need to contact the service provider. Businesses typically pay a recurring fee and are allowed to use the software for the subscription period. Furthermore, after the end of the subscription period, the users can either renew the software or go for an alternative. This, therefore, gives users more flexibility in finding software that fits their needs.

3. SaaS software vs. Traditional software:

Traditional software means purchasing and installing the software locally on a computer. The software is fully functional but is often expensive and outdated quickly. However, SaaS has managed to change this scenario. It works on a subscription basis, and you continually have access to the latest version. They usually run on the server of the service provider and hence, they allow the companies to specialize the software as per their needs. SaaS software makes the work simple and easy for businesses.

4. Advantages of using SaaS software:

  • Lower costs: The cost is split among many companies that use the software and therefore, the cost an individual business has to incur is generally less than traditional software. It allows smaller businesses, that can’t purchase traditional software due to enormous licensing costs, have the software and improve their efficiency.
  • Saves time: SaaS software requires little to no technical setup. This helps eliminate most of the time spent on configuration and installation..
  • Upgrades: Traditional services require users to pay for getting their software upgraded to the latest version. However, SaaS  providers upgrade the services to the latest version automatically, and these costs are distributed among a large number of users.
  • Easy to use: SaaS software may offer customization according to business needs. This helps the business to get past the complicated procedures and stick to the simple procedures and options that they require..

5. What is Time and Attendance SaaS software?

Time and attendance software uses automation to track employee presence. Access to this software is traditionally  provided to Payroll and HR departments. This software provides summary sheets at the end of particular periods depending upon the software. SaaS providers charge the businesses on the number of employees tracked, making the software easily scalable for growing businesses.

6. Advantages of using Time and Attendance SaaS software:

  • Cost effective: As SaaS service providers don’t charge installation fees the intital costs are usaully much lower. Unlike licensed software, which is costly, SaaS works on a subscription basis. Hence users can track the attendance of employees at a lower cost..
  • Less technological help: SaaS software requires virtually no technical setup and no special hardware or computers. They are also incredibly easy to operate. Thus there is less IT strain by using SaaS software.
  • Secure way to store your data: SaaS provides online storage of your data, in the secure data centers of service providers. Besides being secure, it also allows instant access to employee records from nearly anywhere.
  • On subscription basis: All SaaS software including time and attendance software work on a subscription basis. Hence the commitment you need to make in this software is less. This ensures that if you don’t like the service, you can switch to another at minimum cost.

7. Employee experiences:

SaaS software for time and attendance creates a positive impact on employees and increases their efficiency. Knowing that powerful software is keeping a check on them is essential to keep hard-working employees motivated. It also prevents timesheet fraud, and makes administration of employee time easier. It also contributes to achieving mobility in time and attendance management, and the software makes it easy to read the summary of data. SaaS gives the users a wide range of options from which to choose.

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