How can you accelerate innovation and create new revenue streams in the services industry? AI and SaaS hold the answers to delivering impactful solutions that can scale your business while enhancing client experiences.
Let’s face it. Global services firms need talent to scale up – and staffing these firms has become increasingly difficult. But what if we could change the paradigm and shift from a labor-based model to platform economics?
If you could embed AI-powered SaaS into your services business, you could scale your business without hiring more employees. By digitizing part of your services offerings, you could expand your profit margins. By embedding AI into your business, you could deliver faster outcomes than ever before and drive customer experience to new levels of satisfaction. Plus, the end result could differentiate your company as an innovative leader within the global services space.
These possibilities indicate a large shift in the way services firms do business. What we are witnessing is a transformation of an established business model:
- From labor to platform economics: the focus shifts from billable hours to scalable digital assets – enabling higher profit margins and more predictable revenue
- From project mindset to product mindset: Instead of delivering one-off projects, this new approach involves developing reusable solutions – driving efficiencies and creating long-term value.
- Value-based pricing: Instead of aligning client outcomes with inputs, this strategy aligns pricing with outcomes – increasing client satisfaction.
But what does this mean in terms of actual dollars? By moving to a 60-40 split between traditional services and SaaS-powered services, you can drive growth from 5% to 15% and increase gross margins significantly. For a large global services firm, this could mean a difference of $50 million dollars annually.
Want to understand the potential uplift in margins and revenue for your business? Enter your company’s numbers into our Transformation Model to see the impact of SaaS on your business.
Apart from harnessing new efficiencies, Saas can increase your company’s profit margins in other ways. SaaS-powered services can enhance your offering and deliver greater client value. In the webinar, Launchpad for Global Services: Services Innovation Acceleration, Digital FastForward CEO, Clay Richardson, noted how embedding SaaS into his business enabled the company to triple the price of their services, due to increased client value.
Where do I start?
First, identify your company’s expertise and think of what services could be transformed into a repeatable solution, for the highest impact. Here are some examples:
- Digital transformation: SaaS can streamline digital transformation initiatives, enabling faster implementation and higher ROI.
- Technology services: SaaS can enhance technology services, providing managed solutions and reducing operational costs.
- Business process &managed services: SaaS can optimize business processes, automating tasks and improving efficiency across departments.
- Consulting services: SaaS can empower consulting services by delivering data-driven insights and automating client reports.
Of course, you might pivot from embedding SaaS into your services and start using Launchpad to build apps for your clients. Organizations everywhere need software for digitizing, orchestrating, and automating work – and developing it has never been this easy or economical. Opportunities for SaaS development are bursting across areas and industries: from insurance to supply chain, and from finance to pharma.
Finally, learn about Launchpad and how this SaaS-building platform can help make your SaaS vision into a reality. To get a better idea about Launchpad’s capabilities, you can start by mapping out your app in Launchpad Blueprint. Be sure to watch our webinars and follow us on LinkedIn to stay connected and up to date with what’s going on in the SaaS-building universe.
Need to find out about using SaaS to transform your services firm? Check out our webinar, SaaS-Powered Services Transformation.
About the Author
The Launchpad Team empowers companies to build B2B SaaS apps fast and at minimal cost - enabling them to go from ideation to application at rocket speed.