SaaS (Software as a Service):
- Advantages:
- Faster deployment.
- Lower costs associated with product upgrades.
- Modular offerings based on your needs, usage or company size are available with some, not all, SaaS products.
- Efforts and budgets associated with SaaS product upgrades are lower, as providers grow continuously based on “community intelligence.”
- The product or service goes through constant improvement based on feedback and suggestions from multiple users that might have faced the same problem as you.
- SaaS acquisition is financially more productive, as the cost belongs to the OpEx category (short-term costs).
- Disadvantages:
- You must build your process around the software instead of building the software from your processes
- The service is “one size fits all” and cannot easily grow with your company and your processes
- Most large companies don’t trust SaaS providers with their security keys and prefer to hold them on-premises.
- There is little customization available.
Custom Built Software:
- Advantages:
- The software is tailored to your specific needs.
- Customization is on-point.
- The software can easily grow with your business’s needs
- Disadvantages:
- Higher costs associated with product upgrades.
- Longer deployment time.
- Higher costs associated with development.
