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Published Feb 04, 2025  | 5 min read
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    Lucanet

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    Dr. Christian Fuchs

SaaS, referring to Software as a Service, is one of the leading ways for companies to implement new technologies. While SaaS is not inherently cloud-based, in practice most SaaS solutions are hosted using cloud software, which is one of the key reasons this model has been so embraced.

 

What does cloud-based SaaS software mean?

SaaS stands for Software as a Service. It refers to a software distribution model in which applications are hosted by a service provider and made available to customers over the internet. This allows users to access software applications on a subscription basis without the need for internal infrastructure, installation, or maintenance.

 

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Post-covid, there was a wave of SaaS adoption across the world as businesses were forced to adapt to remote working however many are still unsure of the benefits of switching from an on-premises software solution. As with any new technology, there are of course positives and negatives, however there is still much misunderstanding around what SaaS means for consumers. Here are 5 SaaS myths and the realities behind them.

 

Myth 1: It’s expensive

When weighing up the benefits of SaaS vs on-premises solutions, one if the things you are also weighing up is the large-upfront cost of an on-premises solution vs an ongoing subscription. Many people argue that it is more economical for a company to shoulder this large initial investment to save money in the long-term, however this logic overlooks the fact that just because software is on your own premises doesn’t mean there is no ongoing cost it means that this cost is on you alone rather than your provider. To host an on-premises solution, you need to be running a server room and factor in ongoing maintenance, updates, and cybersecurity staff not to mention the environmental ramifications. When choosing SaaS you are not only saving the high upfront cost but also offloading the cost of ongoing maintenance.

 

Myth 2: It’s difficult to set-up

This fear comes from a lack of familiarity with SaaS products, however the reality is the cloud-based environment means that it can be set up remotely and with far more ease than an on-premise solution. In addition, the maintenance becomes less of a challenge as the onus is entirely on your service provider meaning they can handle all issues.

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  • Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum dolor sit amet.

 

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    Lucanet

    Lucanet is a global software provider for financial consolidation, planning, and reporting. Our user-friendly CFO Solution Platform is designed to match the exact requirements of finance teams by providing accurate and consistent information effectively. For more than 20 years, 6,000+ customers in 50 countries have already trusted Lucanet.

  • Image of Dr. Christian Fuchs

    Dr. Christian Fuchs

    Dr. Christian Fuchs is a Senior Analyst and Head of Data & Analytics Research at BARC. He is the author of numerous BARC studies as well as a sought-after speaker at conferences. His areas of expertise are decision support information systems in corporate performance management (CPM), planning, consolidation and analytics front ends. As a consultant, he supports companies in the software selection process and in the implementation phase as well as with strategic questions regarding tool portfolios, architecture and usage scenarios.

The right software to master your ESG reporting

Efficient ESG reporting is a must-have for the future of your company. The strategies outlined here will help you enhance your ESG reporting and overcome the challenges associated with sustainability disclosure. Find out how Lucanet can help you simplify these processes with advanced ESG software.

 

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Qualifications

  • Minimum 2 certified consultants
  • Meet rigorous certification criteria

Knowledge base

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Qualifications

  • Minimum 2 certified consultants
  • Meet rigorous certification criteria