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SaaS eCommerce – A Comprehensive Guide & Best Platforms for Business

Guest Post | Jul 13, 2022

SaaS eCommerce Guide and Platforms for Business - SaaS eCommerce - A Comprehensive Guide & Best Platforms for Business

Ecommerce businesses have been around for so many years now, and ever since the pandemic hit the world, it has become more active and in demand. Even eCommerce platforms have evolved and are still developing with more advanced and high-tech strategies.

But with the increasing attention on eCommerce platforms, it is getting hard for some companies to handle the massive traffic they receive from consumers. And to solve that problem, they started to seek and utilize the software-as-a-service or also known as SaaS platforms.

What is SaaS in eCommerce?

An example of a cloud-based software licensing model known as SaaS eCommerce is one in which a service provider is responsible for managing the backend operations. Because of this, firms can reduce costs, shorten the amount of time it takes to bring a product to market, and effectively scale their operations.

Benefits of SaaS eCommerce

Here are some of the benefits that you can get using SaaS platforms for your eCommerce Business;

  • It has infinite scalability. With Saas eCommerce platforms, it will allow the expansion storage of adopters and will add new functions that are on-demand.
  • SaaS eCommerce is cost-efficient. It will help the platform companies to reduce their expenses on development, deployment, and even maintenance
  • The maintenance will be much easier to handle. SaaS eCommerce platforms will take care of all the maintenance needed like software updates, fixing bugs, servers, and so on.
  • It is universally compatible with other business systems. Most SaaS eCommerce platforms are compatible with business systems such as ERP, POS, and even 3PL.
  • It is secured and PCI-compliant. All the big SaaS eCommerce platforms ensure the protection and security of the customers’ financial information.

When is it time to Switch to an eCommerce SaaS?

While software as a service (SaaS) eCommerce systems offer several benefits, this does not mean that every type of company can benefit from using them. SaaS is typically more popular among small and medium-sized businesses (SMEs) and startup companies because these types of businesses typically do neither have an established IT infrastructure nor a huge budget to construct the platform from the ground up.

In addition, startups and small to medium-sized businesses frequently need to rapidly scale up their data storage to accommodate growing traffic or capitalize on new business prospects. This is something that is much more difficult to accomplish using open-source or on-premise solutions.

SaaS platforms offer a limited level of customizability in comparison to other available options; nevertheless, many suppliers include many pre-built features as well as templates that can be quickly customized to meet a variety of corporate requirements.

Additionally, when retailers first begin their journey into e-commerce, they tend to experiment with the functionality of their web stores by either adding new features or changing the store's interface. This is something that can be accomplished much more easily when a SaaS platform is in place.

The Best Platforms for Business

Out of the total 4659 E-Commerce SaaS firms in the world, the following five are the most well-known;

1. Shopify

A company that helps businesses set up their online storefronts by providing them with cloud-based software solutions. It is a commerce platform that supports several channels that are tailored specifically for use by small and midsize enterprises.

It provides a high-quality online storefront, a payment solution that allows for the acceptance of credit cards, and an application called Shopify POS that powers retail sales. Its service offerings include tools for consumer involvement as well as payments, marketing, and shipping, among other things. The solution is made available to customers by the company on a subscription-only basis.

2. ShipRocket

AI and web-based automated solutions for e-commerce fulfillment are offered by this company. Its platform has a hardware data engine that helps a business choose a courier service, print shipping labels, and track orders from a single panel.

It makes it easy for businesses to handle shipping and returns. It has more features like managing orders, a shipment rate calculator, tracking orders, and more. It can be connected to online stores like Amazon and OpenCart. The company has solutions for policies that are based on subscriptions.

3. BigCommerce

SMB eCommerce builder. The complete SaaS for e-commerce management. The company helps SMBs develop an online storefront, including search, inventory, online payments, marketing, and SaaS Search Engine Optimization. Multi-channel selling, inventory control, and automated email marketing are included.

It monetizes through subscriptions. The company services over 60,000 stores in 100+ countries with 100+ app connections. The solution is for clothes & fashion, health & beauty, food & beverage, and more stores.

4. Ecwid

Ecwid is an e-commerce platform that allows users to add a fully-functional store to any existing website while maintaining the site's original layout. This functionality is useful for both individuals and businesses. It is possible to include it on any website, mobile site, or social network that is accessible online. Creating an online store with Ecwid is made easier because it is a freemium software as a service (SaaS) platform.

Small and medium-sized businesses (SMBs) in 175 countries utilize Ecwid, which is available in 45 languages. It has exceeded 500,000 registered merchants in every region of the world.

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Any content management system (such as WordPress, Joomla, or Drupal), site builder (such as Yola, Wix, 1&1, or GoDaddy), social media site, or blog can be integrated with Ecwid. With over 300,000 monthly active users, Ecwid has established itself as the most popular store builder software available on Facebook.

5. Riskified

Riskified is an eCommerce solution for stopping payment fraud that is based on AI. It uses big data tools to track algorithms to give businesses information about payments that helps them decide whether or not to accept a transaction. It also uses techniques like behavior analytics, IP location data, proxy detection, linking orders, social media, devices, and more.

What’s the Best Platform?

There is no one-size-fits-all answer to the question of what is the best eCommerce platform. All SaaS eCommerce platforms and platforms that you host yourself have their pros and cons. If you can't decide between two options, you should look at your financial plan, timeframe, and technical resources.

More relevantly, you need to think about which solution will get you from A to B and give you a way to get to Z. Define your short-term and long-term goals to find a platform that should come in handy and that you won't quickly outgrow.

Conclusion

Developing a physical location for a business was traditionally considered to be equivalent to starting an online store. On-premises e-commerce store owners must not only contend with the ever-increasingly cutthroat nature of the industry they operate in but also keep up with the ever-increasingly complex nature of the upkeep and enhancement work that must be done.


NCFA Jan 2018 resize - SaaS eCommerce - A Comprehensive Guide & Best Platforms for BusinessThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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