FinTech

Why Are Companies Partnering with Turn-Key SaaS Platforms?

 

by Pay Theory Team

 3 min read

 August 19, 2022

It’s like HGTV - everyone is looking for a live-in-ready home. Moving is already enough stress on new home owners. No one is looking to renovate a new master bedroom. SaaS is the same way. Small business owners are under so much pressure to ensure the company is leveling up, renovating a SaaS payment platform could be poorly executed from a burnt-out team. Essentially, putting your entire company at risk.

In-House vs. Turn-Key

Turn-key solutions are ready-to-go solutions that are easily deployed in a business. The user will just need to “turn the key” to get started. Turn-key solutions are very useful for organizations looking to solve a specific issue. For example, if your organization is looking to help unbanked families to make school payments online - you would want a SaaS solution that can accept cash.

As tech leaders, it's important to ask the billion-dollar question: should we build our SaaS software internally or use ready-made solutions? It is extremely resource-intensive to create your own SaaS processes. In case of a system failure, you'll need the assistance of all your experts. As a result, your team is under a lot of pressure to come up with a system that works seamlessly for your company.

Does Turn-Key Make Sense for You?

Although both have advantages, more and more companies are moving to turn-key solutions to reduce risk. Over 44% of CIOs say they will use outsourcing suppliers more in 2022 than they did five years ago.

Saving money is one of the major driving forces. About 45% of companies outsourcing their IT functions say that their outsourced IT projects are intended to save money. By releasing these resources, businesses can expand vertically instead of spending time locating small bugs.

By outsourcing, companies are able to find gaps that are not filled by their in-house SaaS platform. Overall, out-sourced SaaS platforms will find problems you didn’t even know you had!

When a company is able to outsource software systems, they’re able to focus on their larger initiatives like landing new sales. SaaS is an integral part within any company, but product managers often do not have a clear understanding of how to implement technology accurately.

Everything You Need in One Turn-Key Package

When companies partner with turn-key SaaS solutions, they’re promised the solution to be fully up and running. Thus, eliminating the risk of small bugs and time spent on these issues will save you and your team time.

On top of saving time, both technical and non-technical users will be fully trained on how to use the SaaS portal in a seamless process. And the most important component, you will see a return on investment fast!

 

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Sources Referenced