To define SaaS, we must break down the acronym to fully understand the meaning. SaaS stands for Software as a Service, or software that is used to help with business functions. SaaS subscriptions deliver a centrally managed, licensed software product that is typically accessed through a web browser or hosted application. Over time, businesses have seen an influx in SaaS products available on the marketplace that are designed to increase overall efficiencies.
SaaS products are useful for users as well as profitable for their providers as they allow for greater scalability. Depending on the use of a software, users can quickly access data with a SaaS product such as Hubspot for their CRM. When the user adds to their team, they can quickly set up a new ‘seat’ within the product in minutes and reduce onboarding time.
For the providers of SaaS products, the more licenses they sell will increase overall profitability. This is due to the fixed costs associated with developing the software can be spread across the licenses as they are sold overtime. This profitability seen with scale is one of the largest motivations behind using the SaaS model as a business.
Where SaaS products can become a burden for users is the overall management of subscription fees. For any business application, chances are high that there is a SaaS offering to help manage a task. With many software applications requiring just internet connectivity, users look to offload time consuming tasks to increase overall efficiency. Where this is an advantage of SaaS products for users, a problem arises of the management of those fees.
What NachoNacho’s model provides is a virtual credit card per subscription management system. With thousands of businesses signed up with NachoNacho to date, we have helped save users 30% of SaaS fees on average. Leveraging your SaaS applications to increase efficiency should not result in a decrease of your bottom line. Create your first NachoCard today and take control of your software licensing expense.