SaaS ROI is a sensitive topic in business, with global economies the way they currently are. In business, it always boils down to net gain and return on investment with everything, and SaaS is no exception. When you go before accounting to be judged, you better have a justifiable expense in all decisions you make, especially “trendy” new concepts like SaaS that they may not view as de facto business tools at the moment.
So, while demonstrating a clear and present SaaS ROI is definitely possible, and not rocket science, you may be needed to provide a significant one to justify the training and conversion expenses that accompany migration to the concept. This may seem like something difficult to do, given that you’d expect a finite ROI on something like this.
Well, there are a few ways to rapidly boost your ROI on SaaS conversion, and while none of these things work miracles, they should add up to a significant enough boost to make this less of a problem.
The first thing to factor in is which conversions you are undertaking for migration to SaaS. This is in fact the biggest issue, so we’ll spend most of this talking about it, actually. See, when you convert to SaaS, there are obvious benefits to it which create the base ROI to begin with. One of these is the lack of need to constantly purchase new releases or updates of a software concept to stay up to date.
So, look through your business’s software use, and find out which ones are the most expensive by way of constant upgrades and new purchases. If these can be migrated to an affordable SaaS subscription with no loss of functionality or work quality, then these will give you the most dynamite for your investment, hands down. They will return massive savings once these constant purchases and upgrades are eliminated, and accounting will see this and give you an instant thumbs up more likely than not.
Another thing in this vein is to look for software that is causing a lot of expense with multiple licensing expenses for various computers. More often than not, SaaS systems exist that offer the same functionality, but with a single subscription fee for multiple users or multiple IPs. These will also bring a significant ROI for your SaaS migration.
Other things to look for is where computing speed, proficiency and training reduction can be accomplished for software to be more workable with employees. Converting to simplified, dynamic SaaS structures that reduce these resource expenses are a high ROI in and of themselves and this is something to be met with high approval more times than not.
Ultimately, when looking for boosted SaaS ROI, it’s all about finding where real problems of high expense can be resolved with migration, and focusing on those primarily. Software that’s only “mildly more convenient” is less of a concern for now. Remember, software is a major expense in business, and as such, alleviating these expenses and showing ROI for resolutions isn’t that difficult if you just see it for what it is.