Every business tries to be as cost-effective as possible. At the same time, it is crucial to have a well-functioning solution. There are multiple possibilities to get your business running. The first and more traditional way is to build your system from scratch and be responsible for it forever. An alternative would be to subscribe to a software as a service (SaaS) cloud system that meets your needs.
SaaS exists in the cloud, meaning hardware installation costs are completely eliminated. Without hardware, you don’t have to continuously pay for hardware maintenance. This makes SaaS advantageous for startups, and nearly 78% of small businesses have already invested in SaaS options.
According to different sources, the annual cost of owning and managing an on-site IT system can be up to 4 times higher than the initial purchase (Gartner Group). Some reports claim that the initial development investment makes for only 5% of all costs associated with maintaining a program (Microsoft, 2007). As a result of high expenditures, companies are spending up to 75% of their IT budget just on maintenance and running of existing systems (Timothy Chou, The End of Software, 2005, p.6).
Adopting SaaS means you don’t have to build out your own infrastructure and software. Beyond the implementation stage, SaaS is easy for updates, and SaaS providers manage hardware and software updates, leaving you with a more seamless experience. 70% of CIOs claim that agility and scalability are two of the top motivators for using SaaS applications.
Due to the previous facts, SaaS solutions are becoming more popular in different industries, especially in IT. Working on a subscription basis and centrally located on a remote cloud network, SaaS models are becoming the go-to for many organizations for various reasons, including flexibility and affordability. Based on a survey of organizations that have fully or largely migrated to the cloud, NetSuite found that such organizations save on average more than 20% in IT spending as a percentage of revenue.
We are an experienced software development team committed to creating solutions for ﬁnancial services and risk evaluation. Our previous experience helped us build a SaaS platform that covers the entire borrowing and lending process. The solution is made so that it is easy to set up loan products exactly according to the needs. Also, it’s possible to change configuration whenever the need appears - no hard-coded values and no deploys. Fintech Market’s system is suitable for innovative loan providers as well as for bigger financial institutions like banks to modernize their loan and client management. We provide continual support and training, as well as constant updates that improve our platform over time. What’s more, our solution makes opening new branches simpler than ever since it eliminates the need to open and develop a new IT infrastructure in a different location.
Enquire today, learn more about the Fintech Market and the opportunities our platform can provide, and grow your business now!