Accelerating the SaaSification Journey
Virtual Round Table
CEO / CIO / CISO / CDO (Digital & Data) / CTO / CMO / COO / Chief Innovation Officer / Chief Product Officer / Chief Experience Officer / SVP; VP; Head of: Director; (IT - SaaS - Infrastructure - Tech Operations - Innovation)
Software / Electronics / Professional Services / Business Consulting Services / Real Estate
SaaSification is the journey from “Doing Digital” to “Being Digital”.
The first wave of SaaSification started almost a decade back where software providers adopted Software as a Service (SaaS). The next wave of SaaSification was by hardware companies who added subscription services as part of their portfolio, with Device as a Service (DaaS) and Network as a Service (NaaS). In the most recent wave, Industrial companies embraced the consumption business model for their products and services (IoT & EaaS). The pandemic acted as an inflection point for Digital, and we believe, the next wave of SaaSification is for all, irrespective of industries and businesses (XaaS).
Competing with only product features and marketing, are things of the past. The customer of today’s era distinguishes brands based on ‘Experience’ delivered. The successful companies keep the customers at the centre and delight them with hyper-personalization. What matters to customers is getting access to services rather than the product and engaging in meaningful conversation to continue using those services.
SaaSification journey is headed for a “Phygital” future, thereby, necessitating the need to re-define customer segmentation, pricing, and channel strategies. It also requires updated KPIs and Metrics that focus on customers and drive business growth through customer retention with critical after-sales support and new acquisitions. For SaaS product adoption, data ownership is one more critical area which needs to be thought through.
Lots could be learned from successes and common pitfalls of different organisations. Many organizations get caught in the vicious loop of just enhancing their capabilities by using digital technologies whereas, a truly SaaSified company creates novel customer models and business processes in line with digital technologies.