Technology has become an integral part of most businesses. It not only makes work processes faster and more efficient but, without up-to-date technology, many companies wouldn’t be able to compete in their respective industries. With some enterprises unable to catch up with the fast-paced shift, tech firms like IT consultants, managed service providers (MSPs), and value-added resellers (VARs) can help by offering technology-as-a-service. 

What Is Technology-as-a-Service?

In a nutshell, technology-as-a-service (TaaS) is a bundled IT solution that factors in the cost of hardware, software, and services in a single subscription price. This service package is customized according to business requirements, simplifying the entire process with just one point of contact. Unlike traditional technology solutions, TaaS takes out the workload and complication of hiring several providers for different services.

Technology-as-a-service doesn’t mean your client has to get rid of its existing IT team or infrastructure. On the contrary, TaaS complements and improves it at a significantly lower cost.

How It Can Benefit Your IT Company

While there are still inflexible technology vendors that only focus on selling hardware, software, and maintenance contracts, you don’t have to be one of them. Most MSPs and VARs have already added TaaS and cloud-storage solutions to their growing range of IT services. Doing so allows them to offer an expansive range of services and have an economy of scale — lower costs translate to higher profits for the company.

While everything may look peachy with TaaS, there are a few challenges you may face when developing one for your client. Wrong pricing strategy, improper key performance indicators, and technical problems are some of the issues you might encounter during TaaS product development. That’s why you should start building a relationship with a competent, established technology-as-a-service provider. They will have the network, resources, and best practices to help you formulate a cost-effective IT solution for your customer. At the same time, this will positively impact your profitability, particularly when clients renew subscriptions or scale up services.

If you’re interested in including technology-as-a-service as part of your offerings, turn to the experts at XaaS1 of Rochester Hills, MI. Backed by over 30 years of industry experience, their team of skilled professionals provides a range of business solutions from IT consulting and cyber security to managed services and cloud computing. Call (833) 469-2271 or visit their website to learn more about their services.