The Rise of the “As a Service” Model
Because technology advances rapidly, the need to upgrade outdated equipment is a constant annoyance and financial burden to most businesses. Fortunately, there is a cure to this problem that will help companies to keep a technological and economic edge: Technology as a Service.
Most corporate organization employees will be familiar with the “Software as a Service” concept (SaaS). The SaaS model appeared in business circles around two decades ago. Its full-service offerings on a subscription basis quickly became a crucial component for most industries. These days, even average consumers who aren’t familiar with the term likely use a variety of SaaS via video streaming services and the like (which technically qualify as SaaS).
So what exactly is TaaS? The simple explanation is that TaaS functions similarly to a subscription service. However, instead of subscribing to a software or streaming platform, a client “subscribes” to a comprehensive technology system (or cluster of integrated systems) that is unique to their organizational needs. Unlike conventional technology investments, which typically end with client ownership, TaaS is a long-term relationship with the client that allows the organization’s technology systems to be serviced, scaled, and upgraded on an as-needed basis. Because of the never-ending, rapid evolution of technology, TaaS gives companies significant competitive flexibility.
Next, let’s look at the three primary reasons a company may seek to engage in a TaaS partnership.
Three Key Advantages of Technology as a Service
1. Financial Resilience
The number of technological systems and their uses is nearly endless. However, almost all have one thing in common; the hardware depreciates quickly because technology shifts and evolves quickly. Adding to this are numerous non-recoverable costs of tech systems, such as installation, licensing, programming, training, and more.
Technology as a Service addresses these issues by designing a client-specific program that combines hardware, software, installation, and service into a single payment. This format allows clients to avoid myriad previous costs and boost financial resilience.
2. Organization-Exclusive Technology
As previously mentioned, technology is evolving at lightning speed. While these advances are fantastic from a functional standpoint, keeping pace is a constant battle for most organizations. Many companies face mounting CAPEX budgets to stay competitive or secure. Additionally, a company’s technology needs often fluctuate depending on numerous factors. Regarding technology, there is no such thing as a “one size fits all” system. Every organization deserves technology exclusively tailored to its current AND future needs.
Technology as a Service deals with these common problems by guaranteeing the provision of cutting-edge systems at on-demand scalability.
3. Uptime and Peace of Mind
Technology systems, far from a luxury, are critical to function in today’s business climate. Data and communications systems keep us connected and allow for planning and transactions. Security and access systems keep employees and customers safe. Audio/Video systems enable organizations to communicate effectively with those who matter most. And without reliable power, absolutely nothing would function. Failure of any system and the resulting downtime are not optional; they can have disastrous results, including unforeseen repair costs. Fortunately, the service and maintenance options included in a TaaS agreement mitigate and help prevent such problems.
The most beneficial partnerships occur when clients and their solutions providers maintain long-term collaborations. Being an ongoing service provider allows them to perform upgrades and customize new solutions when necessary, relieving the client of countless obstacles and headaches. In short, the solutions provider handles all technology concerns for a single monthly payment, so the client doesn’t have to. This arrangement allows you to focus on your organization’s core concerns – maximizing productivity, security, and financial success.
As an electrical contractor and systems integrator in numerous markets and industries, Miller Electric Company is excited to assume the responsibility of becoming your strategic technology partner. We have delivered sophisticated solutions to healthcare facilities, government institutions, laboratories, manufacturers, distributors, and data centers. We have vast cross-disciplinary expertise in power, systems integration, security, data, and telecommunications. A strategic partnership with Miller Electric guarantees exclusive applications and solutions that fulfill your organization’s unique needs. Our unified approach and top-to-bottom solutions provide our clients with a competitive edge, financial savings, and a superior occupant experience.