Market & competition monitoring as SaaS solution

Software as a Service (SaaS) is a significant delivery model that offers businesses a new way to access and use software solutions. Instead of installing programs on local computers or servers, they are now delivered cloud-based. SaaS allows manufacturers and retailers to use software applications over the Internet, which brings numerous advantages. In this context, we would like to explain in more detail what SaaS is and what advantages it offers for manufacturers and retailers.

What is SaaS?

In the past, it was perfectly normal for computer programs to be stored on the hardware of the person using them. Either the software ran on a local computer or on a server in one's own network, so that several users could work with it. License fees had to be paid for the use of the software. The software was therefore purchased. The price was calculated according to the number of users who worked with the program and its modules at the same time. Updates were made within the framework of service contracts with the software manufacturer. This "static" software licensing model is known as "on premise".

SaaS follows a completely new approach. Here, software is provided in the cloud. The market shares of this provision model are steadily increasing. Solutions that are still largely installed on premise, such as CRM and ERP systems, are gradually being replaced. Accordingly, the SaaS market is characterized by rapid growth. Growth rates of more than 17 percent year-on-year are forecast for both 2023 and 2024 (Source: Statista). 

What does SaaS entail for manufacturers and retailers?

Both manufacturers and retailers benefit from this form of software provision. For software producers, the time-consuming distribution via data carriers or shipping by e-mail is no longer necessary. All major software manufacturers now also offer their services in the cloud.

Retailers no longer have to install and administer the software on servers, because it runs in a web browser on any Internet-enabled device. An Internet connection, so to speak, is the only requirement to use SaaS services.

How does SaaS work?

With SaaS services, the manufacturer hosts applications and data cloud-based on its own servers or servers of a cloud provider. Users access the services via an Internet platform. Authentication takes place via user IDs and passwords. SaaS services cover not only classic application software such as CRM, ERP, office and mail programs, but also entire operating systems, for example.

What advantages does SaaS offer the company who is using it?

In addition to the elimination of administrative effort, the greatest advantages include far-reaching scalability. The company only pays for modules and functions that are actually used and only for the data volumes that are stored and processed. If the company grows or additional processes are added, the software can be adapted directly to current requirements. 

Another advantage of SaaS that should not be underestimated is its practically universal accessibility. This means that services can be accessed from virtually anywhere. Employees can also access the services from their home offices or while on the road. This increases flexibility within the company.

SaaS solutions like oraya insights for manufacturers copio analytics for retailers or rupio for dynamic and rule-based price calculation are crucial to realize this automated market monitoring and offers numerous advantages for entrepreneurs.

Overview of all channels in one place

Thanks to the respective technology, thousands of online stores, marketplaces and platforms can be searched to provide valuable information for businesses.  This means that businesses can easily monitor and analyze the activities and strategies of their competitors on different marketplaces. With a comprehensive overview of the market, businesses can make informed decisions and optimize their own strategies to strengthen their competitive position.       

Real-time updates

All updates to the application occur in real time, daily, weekly or monthly, depending on the desired period of data collection. E-commerce companies in particular benefit from this, because prices, for example, are adjusted in real time (real-time or neartime). Users can immediately identify current market trends and register any changes in customer behavior. This is immensely important for price monitoring software for competitors, for example. Receiving price information in real time and also making dynamic price adjustments through rupio simplifies data analysis and helps to save costs.

Automated data acquisition

• The advantages of automated data capture are obvious. With this visually presented information, companies can quickly react and adjust their pricing strategies to control their price levels in the market.
  
  To carry out these activities effectively, analysis and monitoring market trends play an important role: 
  
  Analysis enables data to be collected and processed to provide valuable insights into market conditions, competitive activity, and customer preferences. 
  By collecting data, i.e., searching websites for relevant information, e-commerce companies can automatically capture price changes, product descriptions, and other data. 
  Monitoring market trends helps identify new developments and trends early enough to make strategic decisions.

Our Software Solutions

SaaS (Software as a Service) has established itself as an innovative delivery model that opens up new opportunities for companies to use software solutions efficiently and flexibly. Through cloud-based delivery of applications and data, SaaS offers numerous advantages for manufacturers and retailers. It reduces administration overhead, enables easy scalability, provides universal access from anywhere, and enables real-time or neartime updates for effective business management.

Explore the different features of our SaaS solutions and find out which options best fit your needs. Implementing SaaS can streamline your business processes, increase efficiency, and help you position yourself for success in a digital world.