Economic and political uncertainty has had a big impact on business. Companies are more cautious than ever, and the way they operate has changed in recent years. Maintaining a lean balance sheet and optimizing cash flow has forced most organizations to limit capital investments and instead fund projects from operating budgets whenever possible—a practice that has led to many choosing managed services over on-premise software.
Additionally, businesses must do more with less, and one smart way of doing so is using time tracking software to better manage the workforce—a company’s most valued resource. Delivered as a service, time tracking solutions can provide insight into project progress and profitability, enabling companies to maximize resource utilization, trim fat, and operate more efficiently.
Cloud-based timekeeping software solutions help companies get started quickly and cost-effectively with a software-as-a-service (SaaS) delivery model. The combination of on-demand scalability and off-premise software and infrastructure management is revolutionizing the way businesses use and think of software.
Some resistance to the SaaS model still lingers, as supporters of “old-school” enterprise software hold out. But a quick examination of the old-school model reveals inefficiencies that can’t be overlooked: The need for customization during setup, long implementation cycles, and large capital expenditures are just some of the draw-backs. Upgrades are usually intrusive and complex, and although many companies think they can account for upgrades as an operating expense, in practice that doesn’t happen.
In some cases, upgrades are nearly as intrusive as the initial implementation, requiring extensive code rewrites to customize and integrate the new features with existing systems. This work puts companies back in the CapEx mode, spending money on development, implementation, and third-party consulting and support contracts. The only alternative is to stick with the old version of the on-premise software, which usually fails to meet the changing needs of the business.
These issues bring us to a critical question: Why upgrade when you can have a new SaaS solution that delivers state-of-the-art features over the cloud, allowing you to categorize the investment as an on-going operating expense? A true SaaS solution provides many advantages over traditional on-premise or hosted software solutions, including:
As businesses begin to understand the many benefits of SaaS, they’re abandoning the on-premise software model in favor of more efficient, more affordable cloud-based time billing solutions for their mission-critical business systems. Time tracking is a great place to start.