Established application providers are moving towards offering their existing on-premise solution as Software as a Service to get higher revenue through accelerated sales cycles, improved closing rates and to lower costs through more cost-effective customer acquisition. Coincidently, the Economic climate has also accelerated the requirement of software as a service (SaaS) as right-sized, ZERO-Capex alternatives to on-premise applications. Customers are also opting for easy-to-use subscription services, which require investment for current usage of service and not future capacity.
Considering the market dynamics, SaaS, now is moving from a stand alone hosted offering to an on-line solution integrated with existing on-premise or other SaaS solutions. These deployments have become part and parcel of the enterprise environment. SaaS companies tend to concentrate more on market coverage and customer acquisition activities to increase their revenues. One such activity is follow-up with customers for Contract Renewals, wherein Contract renewal process is one of the major cash flow options that pumps-in continuous revenue to the service provider. The success secret in SaaS business is, customer is always a prospect. As such, activities like Managing Contracts, Billing and revenue generation has now become more important and complicated for service provider. Developing and maintaining a billing, revenue and customer management solution may not be part of their core business objective, which needs a dedicated internal IT resource to continuously manage and enhance the system , which can rather be used for strengthening their core SaaS offering.
Having more than a decade of experience in providing an integrated solution in Billing and Contract Management solutions, MagnaQuest offers its highly successful Subscriber Management & Billing system, eVapt to SaaS providers for efficient subscriber & contract management, service provisioning and accurate billing. This solution is available on both "Software as a Service" (SaaS) model and on-premise models.
eVapt meets the needs of complex and rapidly changing software business models in a superior way to that of other enterprise financials, ERP, and CRM solutions. Improved Contract Management, New Pricing or Bundling of Services, Invoicing Process, Dynamic Billing, Prospect Tracking, Quotation, Customer Care and Query Handling and Integrating with existing third party systems are made easy through this platform. eVapt manages customer renewal and retention process and enables SaaS providers concentrate on their core activity i.e. sales and marketing of SaaS offering and achieve their business objectives.