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It is important to not only learn about the latest tech trends for digital businesses but also adopt them for better service delivery standards and in order to bring down the cost of doing business. Online banking solutions help the banking industry to serve their clients beyond the conventional banking hours. E-commerce websites eliminate the need for shoppers to spend hours roaming shopping malls and physically go from one shop to another in order to find an item that not only they want but also matches their personal taste as well.
It is 2019 and there has been a significant increase in the technologies and how they can help businesses to improve their customer standards. The need to stand out from the competition and acquire more customers without having to compromise on the profit margins have been made easy to achieve because of the technological advancements. Software as a Service - otherwise known as SaaS - are ideal tools that can help businesses to generate better revenues with little to no risk. For example, an Address verification API can help to integrate a technological solution in the online checkout process to deter cases of online frauds.
Better Data Security
One of the biggest concerns that are challenging the current landscape of digital businesses is the ever-increasing number of data breaches. Loss of crucial personal and financial information collected from customers can not only lead to significant loss of customer trust but a lot of bad press that a new venture cannot survive given the huge scrutiny of digital practices that comes with such data breaches.
API based infrastructure works at the heart of SaaS-based technologies and thus the data is only transferred within the servers of 2 respective digital businesses. It means that there is no real danger of losing vital data during transfer from one company’s server to another.
Robust Service Delivery
One of the most notable features of digital businesses is its ability to provide a service standard to its customers that are built on swift data processing and providing services in a synchronized fashion. There are several services and products that are being offered with the help of API driven SaaS products, that mostly involves 3rd party service providers that take help from data packaging and server to server calls in order to make the service delivery standards in line with the demands of modern day standards.
For example, an identity verification SaaS product like Shufti Pro can perform KYC or customer due diligence pretty easily with the help of identity verification or Address Verification API.
No Hardware Requirments
When it comes to individual computing needs, it has been ages since the focus has been shifted from hardware requirements to software needs. This was the sole reason for success for companies like Microsoft and Apple also became such a huge success by developing both ends of technology - hardware as well as software - based on their unique business strategy
But the businesses have been still dependent on the hardware-based resources to meet their technical demands. Software-based resources are still used in relatively lower numbers which means that the cost of maintenance of hardware resources is hitting the ability of businesses to turn a profit. This is where SaaS comes in to save the day with the help of its ingenious and limited need for hardware-based resources. Digital businesses will be able to create better opportunities for converting their opportunities into leads and potential leads into loyal customers with help of SaaS products.
Third party service providers will be able to smoothen the service delivery funnel and resources can be diverted to core business function while the rudimentary tasks such as order management, customer service, identity verification, and many other related business actions can be easily handled by SaaS-based technological solutions.
Digital brands and companies utilizing online resources for better revenue generation have come a long way from nascent stages of business technology. It is about time that integration with other service providers is achieved with the help of SaaS-based technologies. It will not only be cost-effective but also make sure that vital information collected during data processing or customer registration is also kept secure from scammers and fraudsters.