The Software Model of the Future – Smart IT Investments

According to Gartner, global IT spending will decline by 8% this year compared to 2019 due to the impact of COVID-19, as there was the necessity to switch to survival mode instead of focusing on growth. Therefore, maintaining cash flow is of great importance and non-essential spends are put on hold.

Yet with some companies starting to consider moving their workforce to permanently remote positions, investments in cloud applications will grow as they are essential to make virtual and hybrid teams work.

Is your current IT set up supporting the flexibility required for new work environments?

How Software as a Service and cloud increase the flexibility of corporate IT:

Keep IT investment risk low

At first glance, it may seem less expensive for customers to invest in a software package once and think this will suffice. However, software licenses are an expensive upfront cost and, in many cases, there are additional costs required later on for updates and new releases.

If company-wide spend needs to be reduced or are even put on hold, investments in cloud applications and Software as a Service remain. As a typical operating expense, these systems are essential to keeping their business operational.

Software as a Service (SaaS) offers the necessary cost transparency to keep investment risk low. All updates and new releases are simply included in the subscription fee.

Scalability is key

The long-term effects of the pandemic may make it difficult to plan ahead, for companies in general, but in particular for IT departments in particular. How many new software licenses should be budgeted for when it is unclear whether they will be used? As personnel changes or businesses have again to take unexpected turns, scalability becomes a key component in decision making.

SaaS investments and cloud solutions minimize risk, as they allow for easy upwards or downwards scalability in users. Furthermore, companies are only bound to rather shorter contract terms, which gives the freedom to adjust as necessary.

Less complexity – less personnel costs

It is important to not underestimate the human resources and valuable time needed for traditional software upgrades or IT update procedures – especially if you encounter a problem.

Cloud solutions do not require a lengthy and complicated installation process. Quick and easy set ups make these solutions far less complex for users and IT alike. There are little to no resources needed and training is minimal. Time-consuming software upgrades also become a thing of the past, as cloud solutions are always up to date. SaaS and cloud solutions also allow IT departments to evolve and easily provide support for a hybrid workforce that isn’t stopping by the office anymore.

Philips Dictation provides voice technology SaaS and cloud solutions that can help your organization save time and money and help you keep up in an ever-evolving business landscape. Philips SpeechExec Pro Dictation and Transcription Software  is a SaaS solution that facilitates workflow from speech to text, allows for easy setup of individual workflow settings and provides organizational flexibility to support hybrid working. Philips SpeechLive is a cloud, browser-based dictation and transcription solution which converts your speech to text and allows you to work with any device, anywhere, anytime.

If you have any questions or want to know more about what solution is best for you, leave a comment and let us know!


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