SaaS VDRs: Best M&A Solution?
What is SaaS?
Businesses cannot operate without the digital layer that the current world encourages. Almost everyone is online, almost every shop has an online version, and with the latest changes on Facebook and with the introduction of Metaverse, the future looks like it’s going to be completely digital.
Where do you place your business in this new reality? What tools can help manage a company in the digital realm? We think that the answer lies in the SaaS business (Software as a Service).
SaaS, or Software as a Service, allows companies to use a provider’s “on-demand” cloud-based apps. This way, a business doesn’t have to install the software onto their native servers but still has access to it by subscription through an internet connection.
This reduces costs of the installation, updates, incompatibility with drivers, and other issues that might come with introducing software to company hard drives. The only thing that you have to worry about is the speed of your company’s internet connection.
UK SaaS use statistics
According to Statista, over 42% of the UK population is using some sort of cloud-storage service. This number shouldn’t come as a surprise, as the latest smartphone iterations encourage people to embrace cloud storage.
The world is slowly shifting towards subscription-based cloud services. The same goes for secure file storage.
The most common types of SaaS
So, what are some SaaS examples?
- Cooperation. You probably have heard about collaborative tools like Google Workspace, Slack, or Asana. Those are all prime examples of SaaS technology in use. You don’t need to install an extra email client because you can chat with coworkers from within the system, and managing projects has never been easier through your browser.
- Accounting and payments. Products like Stripe or Freshbooks are convenient SaaS solutions that also help you with managing company finances. Viewing all of your business expenses in one convenient place without having to download and set up software is a user-friendly way of conducting business.
- Integration with other services. Canva and Adobe Creative Cloud are world-renowned solutions known for their accessibility and cloud computing possibilities. With these solutions, you won’t experience issues like the lack of current add-ons or supported formats, as all current trends are usually reflected in SaaS solutions.
- Video tools. These days, it’s much more cumbersome to conduct business without video conferencing tools and shareable videos. Solutions like Google Hangouts and Zoom are easy to use and learn without being digitally literate with a couple of clicks. This opens up many new possibilities and client opportunities.
Virtual data rooms as the main SaaS for M&A deals and file sharing
If you are a business owner, you may know how many documents are needed for an M&A deal. If the massive amount of paperwork needed has been digitized, it could be advantageous to store it in a virtual data room. This SaaS solution helps you organize files in a secure and accessible way. Additionally, this professional tool can be very helpful for conducting M&As. Though electronic data rooms are already big business, the market is expected to continue growing in upcoming years.
SaaS is slowly taking over well-established industries. For example, who would have thought that you would be able to Photoshop your pictures inside of a browser or conduct business meetings in a pop-up window?
Thanks to this technology, you can rest assured that storing your files in virtual data rooms will keep them secure and accessible for any potential business dealings.