The Software as a Service sector generated over $72.2 billion in revenue in 2018, according to Gartner data. SaaS is software that can be accessed from a web browser and is licensed through regular subscription.
One of the largest SaaS sectors is the sustainability software market. It is growing at such a high rate that it is predicted that the industry will see compound annual growth of 7% by 2023.
Sustainability software helps businesses to maintain efficient and smooth operational activities. It will also improve your business’s bottom line. It can enhance a faster return on investment by reducing your company’s operational costs.
Through its sustainability reporting, your business can make data-driven responsible decisions that will give it an advantage in the marketplace. Managing a business’s sustainability progress also entails adherence to compliance requirements.
With robust SaaS sustainability platforms, you can improve your environmental and social records and reduce potential risks and hazards in the workplace. If your business combines its resources with the right sustainability software, it will achieve a sustainable business model.
There are different types of sustainability platforms, designed to measure, monitor and report a business’s sustainability factors such as:
Types of sustainability software
- Project management and sustainability performance software used by executives for data insight. This range of sustainability programs will provide metrics on the performance and progress of your business’s sustainability projects.
- Energy and enterprise carbon management software for operations and executives that focuses on resource consumption and the business’s carbon footprint.
- Product management and development software that supports the development and design of green business products.
- Communication and collaboration platforms for information, IT, and HR employees, which cuts down on travel. These platforms also increase workforce efficiency through enhanced communication and collaboration.
- Smart infrastructure platforms that assist in the management of smart assets. This software range also improves and enhances the sustainable use of hard assets such as vehicles and buildings.
Benefits of sustainability SaaS platforms
- They will track and report data that will assist in the creation of streamlined and sustainable business processes.
- They will help in compliance by availing data for different standards, such as the ISO 26000 certification. Other necessary compliance certifications they could assist in achieving are the Carbon Disclosure Project or the Global Reporting Initiative.
- Sustainability platforms will give instant access to data to auditors when the occasion arises.
- The programs reduce businesses’ impact on the environment by identifying operational business areas that require energy reduction.
- They also monitor the consumption of various resources and provide reports that can help measure other sustainability metrics.
- Integrating these platforms into your business will allow you to communicate on the progress of global environmental efforts as well as local and national initiatives.
Automated business solutions have a myriad of advantages on supply chains and other business areas as well that are focused on increasing sustainability. They will ensure that your business runs efficiently and effectively for growth.