If your SaaS company isn't taking advantage of online transactions with an e-commerce platform, it's time to consider adopting one.
An e-commerce platform offers SaaS companies the opportunity to conduct online transactions, thus opening up their options and significantly widening their audience. E-commerce platforms have been referred to as future-proof, meaning that they can scale with growth in business and progression in technology.
Here's an overview of the many benefits of implementing an e-commerce platform to sell your product online.
Increase Uptime and Security
When a SaaS company adopts an e-commerce platform, technological software updates and patches happen automatically, behind the scenes, giving you the time to focus on growing the business rather than managing the back end. Additionally, e-commerce platforms can either be managed in-house or outsourced, allowing your company to choose the option that's most suitable.
As for security, e-commerce solutions stay ahead of security trends, thanks to the utilization of patches and routine software updates. This ensures your platform, business data, and sensitive client information is safely stored. Data security should be a priority for any company. Cybertheft costs businesses an estimated $400 billion per year, so it's just good sense to take security seriously.
Streamline the Billing Process
Managing and retaining a large client base with recurring billing is complex. An e-commerce platform can streamline the process by introducing time-saving options such as subscription management and recurring billing. Some platforms support multiple currencies and languages, creating the opportunity to expand your business globally. Other options SaaS businesses benefit from include dunning management, multiple payment options, and maintaining tax compliance all in one place.
Also, invoicing has never been easier. With an e-commerce solution, invoicing is done automatically, which further streamlines the billing process and boosts time for business productivity.
The capability for customization within an e-commerce platform for SaaS is essential. Fortunately, if you choose the right platform, it's also relatively simple. Customization offers the opportunity to work with existing solutions already in place, with the added bonus of cloud app integration. Everything from your current hardware and software remains in place, meaning incompatibility issues are nonexistent when the time comes to scale up the business.
Regardless of the size of the business, it's possible to pick and choose just how much and which parts of an e-commerce platform a SaaS company requires. This allows for easy integration for growing businesses and allows startups and smaller organization to utilize (and pay for) only the services they need at any given time.
Scalability and Flexibility
Increasing revenue and getting conversions is the ultimate goal for any forward-thinking SaaS company. In order to achieve this, it's important to focus on brand positioning and building a loyal customer base. An e-commerce platform gives a SaaS business the necessary flexibility to redistribute funds in order to amplify the business's brand name. Saved costs can also be allocated to improve customer service as well, rather than spending money on manual processes that are not cost effective for scalability.
Bring an e-Commerce Platform to Your Organization
Each business has a specific need when it comes to selling their digital services. As such, it's important that the company finds a digital e-commerce provider that can meet those unique needs.
At FastSpring, we make sure you get all the benefits you deserve from online transacting on e-commerce platforms for your software business. Our platform features a flexible ordering system that is easily integrated into your website and its design, allowing you to focus on the business itself—saving you money in unnecessary programming tasks and operational costs.
If you’re ready to bring the crucial benefits of an e-commerce solution to your business, contact us. Let’s get started.