In the digital age, it is impossible for companies or multinational corporations to create their own software for all of their needs. Due to common operational structures within companies, some companies have developed software products that they offer to other companies at minimal cost.

Technology companies have now developed these products for a variety of business needs, such as: CRM to manage contacts and customers, HRMS to manage employees and their attendance, payroll etc. There are points of sale to manage customers and sales in restaurants and F&B stores. Like Tally helps with bookkeeping. These are cloud-based softwares because the code is hosted on servers belonging to the company that provides this software in the form of subscriptions – known as SaaS (Software as a Service). The SaaS provider takes care of all technological issues, while the company can concentrate on its operational fronts.

Why is it gaining popularity?

In recent years, SMEs and large corporations have preferred turnkey, multi-vendor solutions to bespoke solutions. The turnkey solution has obvious advantages such as lower cost, faster deployment and time to market, no coding problems and a well-tested solution.

Companies can now focus on growth and expanding into new markets because the technological aspects are already taken into account. Multi-vendor e-commerce is inherently difficult to set up. Organizations need a complete solution that can cope with changing market conditions in order to work efficiently and effortlessly. This method should be automated and require little effort in terms of coding or maintaining a buffer of additional resources such as server space to handle the peak load season.

Benefits of SaaS-based e-commerce marketplace platforms:

Profitable:

Every aspect of software ownership, maintenance and upgrade is handled transparently by the SaaS solution for multiple providers. This significantly reduces the overall costs.

Complete Solution:

Building separate modules for each business process and aligning them to cover both core and advanced business processes is relatively easy.

Easy to use:

Different user levels can benefit from intuitive and simple interfaces. The simple learning curve allows for a quick introduction.

Easy Customization:

Microservices are easily customizable so that new functions and flows can be added quickly. For out-of-the-box business ideas, SaaS based e-commerce marketplaces are the ideal option.
Fast Integration:

It’s easy to combine a range of other logistics, payments, tax, ERP and CRM software, making it the most desirable solution.

Automatic Upgrades:

Frequent upgrades give companies a technological and competitive advantage. Companies can benefit from future-proof technical solutions instead of clinging to the rigid technology of outdated software.

Increased efficiency:

Multi-vendor SaaS software increases efficiency and production across the enterprise by automating activities quickly. B2B marketplaces require a more complex offer and are more SaaS-compliant than B2C marketplaces due to the large AOVs and complex workflows in B2B transactions.

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