Sage ERP for SaaS Businesses
We all prominently know and talk about the manufacturing business. There is one type of business which uses software to provide customers with a service. This type of business is managed by Saas companies. And this business is in-demand for vast opportunities. SaaS takes over more than 50% of the cloud software service market.
What is SaaS company?
SaaS uses software and is a significant element of cloud computing. The increasing popularity of the cloud market is opening more demand for the SaaS companies to thrive. It is hugely impacting the ways organisations work.
Working from home is a new work norm which many companies prefer after the pandemic covid 19 hit. Companies have been introducing these work norms like work-from-home and hybrid models, which will benefit SaaS businesses as they can offer niche services like instant messaging platforms, which can be accessed through any application or online browser.
SaaS companies are mostly involved in the creation and development functions simultaneously, involving in hosting and updating the product internally.
Other types of SaaS businesses are video and music streaming or SaaS marketing automation platforms. Businesses working in this field can use the subscription-based model that is done monthly or yearly.
SaaS businesses can easily create unique methods to approach their target audience, they have unlimited access to reach and scale.
Common challenges of SaaS companies
SaaS businesses are versatile, extending its branches in all types of industries. It is found in all the sectors like healthcare, entertainment, communication etc. It has always been an all-around solution for key functions like orders, subscriptions, customer data records etc., but it doesn’t fully offer a complete solution. SaaS businesses must rely on another solution to manage functions like finance and accounting.
SaaS businesses, unfortunately, should opt for disintegrated systems, which should help them to function in unison.
In the market, there is a huge demand for a system that integrates all the key modules of the business together, especially financials and which can efficiently implement automation across various locations.
It is an important criterion for SaaS providers to be flexible and must be capable to handle finances over different regions and currencies. So there should be some integrated solution which supports saas businesses to expand and grow.
How can SaaS business benefit from Sage ERP, an integrated solution?
In the SaaS business, the core functions are already managed seamlessly. Management of functions such as to sign-up process, providing access to the server and software tools, customer usage tracking, customer information database and many more. These businesses need the help of Sage software integration to boost their functional capabilities. Any business needs an integrated system to function efficiently and grow.
All types of businesses expand and go global after a certain time. But Saas businesses always operate globally, one chief reason being that they are not tangible products like other businesses. The other reason is that they operate only on the cloud. So this type of business has the pressure to fulfil all the requirements of users from various regions and cultures. It also includes billing in different currencies.
Sage ERP is designed to help SaaS businesses with all the challenges. It can efficiently help them with billing and invoicing in different currencies.
Saas companies are used subscription-based, so the billing has to be done monthly or yearly. Sage ERP software is completely capable to do tasks like invoicing frequently and setting up recurring payments.
Sage ERP system integration with SaaS business has a lot of advantages. It automates the entire business functions like financial consolidations and tracking abilities in billing (such as price, customers, and software products).
Saas companies can put their confidence in Sage ERP as it is a fully integrated solution capable of displaying real-time data and pushing growth.
Also read: 6 steps to grow your SaaS fintech stack
3 Sage ERP features that can benefit SaaS businesses
1. Automation
Sage ERP products is a fully automated business management software expertly assisting the everyday functions of the business. It is a pro when it comes to managing the business’s financial processes. For a SaaS company, after integrating its processes with Sage ERP, managing the billing monthly or yearly will be easy due to automation. Any user can view the transactional detail in real-time, another best pro. In addition, any user can access it from anywhere or on any device.
2. Integrations
SaaS business’s biggest challenge lies in integrating the billing, invoicing and all the business’s financial operations. Here Sage ERP’s integration with SaaS can be a huge benefit as it offers the most crucial features beneficial for the business. It’s integration with Sage software will boost the financial capabilities of the business and also help to work alongside internal customer databases to help with billing and international currencies.
3. Billing and invoice management
ERP systems, as we all know, are a brilliant solution for any business. Here we are discussing the benefits of its implementation for SaaS businesses. SaaS company can manage all the core functions of the business efficiently.
As mentioned earlier, they lack in financial functions. Here Sage ERP comes to the rescue. When integrated with the SaaS business, this business management system will assist in the billing and invoicing tasks. Business owners will manage and modify all the subscriptions, prorate billing, consolidate multiple charges in a single invoice, and auto-generate renewals that improve customer retention and service.
Sage ERP offers multiple features such as schedule billing for future, real-time and back-date invoices. At the end of free trials, automate billing or, when discounts expire, automatically increase rates.
So, as the billing is automated, invoicing can be more accurate, which will accelerate revenue and improve cash flow. Apart from that, there will be transparency in the transactions. Plus, it will help to stay compliant with all the regulations.
Also read: How SaaS CFOs can improve Financial Planning and Forecasting
Conclusion
SaaS companies are intangible and work online, but they are futuristic and popular business opportunities. Sage ERP software is a complete suite of features rich in financial functions to seamlessly manage all of its billing and invoicing processes. Sage ERP solution is a fully automated software capable of managing all the accounting features of SaaS business globally.
Sage X3
Sage X3 is a comprehensive solution to gain control of your business. It can manage all the core functions of the business processes every day. It can collect, analyse and store data in a single and centralized database. It is customisable based on industry requirements. It is a fully automated software with features designed to systematically manage business functions. Implement Sage X3 and accelerate the growth of your business.
Sage Software Solutions is a leading IT company with an array of advanced ERP Software solutions. Our proprietary products — Sage X3 and Sage 300, will help you cut operational expenses, improve business productivity, increase operational efficiency, forge robust customer relationships, and strengthen associations with vendors, suppliers, and distributors. So, if you are looking to reinforce your business fundamentals and emerge as an industry leader, then please schedule a call with one of our sales representatives.
