Choosing the Right SaaS Platform for Loyalty Rewards: 2022 Checklist

SaaS has become a common delivery model that has many business applications like DBMS, messaging software, CRM, ERP, CMS, etc. There are many platforms that not only tailor to your needs but also help you to get a reward management system created and deployed. This technology creates a better, more dynamic loyalty rewards experience—and regular updates include new features and point-redemption options.

What is SaaS?

• SaaS, which stands for Software as a Service, is a type of technology distribution in which the software is actually hosted by the third party who makes it available for the customers on the internet.
• SaaS technology has removed the hurdle for organizations to install and run the applications on their own network or in their own space.
• Instead of purchasing software, the customer simply subscribes and pays for the services on a monthly or annual basis.
• Partnering with a SaaS platform provider for consumer or sales channel incentives is a great way to not only improve sales results but give great offers while rewarding customers.

Prior to choosing a SaaS platform

Whenever a business thinks about implementing a new strategy or new technology, there are several reasons behind it. Likewise, there are many reasons to implement a SaaS for loyalty rewards. However, you want to make sure that you’ve documented the goals you need to achieve with migration to a SaaS platform, which might include:

1. Improving the efficiency of the business-related processes
2. Lowering long-term maintenance costs
3. Achieving greater scalability with minimal costs (both up and down)
4. Easing collaboration of geographically remote offices
5. Improving the level of data protection

Checklist for choosing a SaaS platform for loyalty rewards

When thinking of choosing a SaaS platform for your loyalty rewards, the following questions should be answered:

✔ What is the Service Level Agreement offered by the vendor?

Before you sign anything, you want to ensure you understand your service level agreement (SLA). You should know things like whether or not services such as a mobile B2B loyalty program can be added to the SaaS platform. Services should be clearly defined in the agreement.

✔ What pricing models are offered by the provider?

Figuring out the costs of using a SaaS platform is often not as simple as understanding your costs for other, more traditional software applications. Businesses often pay monthly or annually to a SaaS vendor, or sometimes they pay only for what they are using. You should know exactly how the billing process of the SaaS platform you are considering operates.

✔ Can this particular vendor cover your service needs?

SaaS vendors are located in different areas of the world, which can sometimes cause unexpected problems to arise. For example, it could be mentioned in the agreement that they will provide services only during regular working hours. If you are based in the UK and the vendors are in the UAE, then there will be different time zones in both countries.

Ask how technical support is provided. Will your team be connected directly to the vendor’s help desk, or do they offer a ticketing system? In the case of the second option, what specific tasks have to be resolved by your in-house tech support team?

The agreement must fulfill your needs, and not just the vendor’s needs. If the agreement is written vaguely or has some vague clauses, then make sure to clarify.

✔ Can the platform be integrated with your existing solutions?

The scope for integration of your CRM, ERP, or other business systems helps to avoid slowing the productivity of users and removes barriers to further customization and scaling. You also want to make sure that your employees or specialists working at the vendor’s company have the right skills to perform the integration, plus that the data and functionality you might need are accessible.

✔ How customizable is the sales incentive platform?

Each business has some unique needs that require customization of a SaaS solution. The ease of customization is a particularly important factor when you don’t have technical specialists on your side or want to scale with minimal downtime and costs.

✔ What migration options does the SaaS vendor offer?

Importing a large amount of historical data will inevitably take a lot of time and effort. However, mature SaaS providers typically have the proper mappings to import data from popular applications and formats.

You might also need end-user training, so it’s important to figure out in advance whether training programs offered fit the profile of your sales staff.

✔ How do they protect data?

Here you need to clarify two key moments:

1. How does the vendor ensure data security at all touchpoints?
2. How does the vendor create and maintain backups? Does the company allow you to perform backups on your side?

Even if the SaaS provider relies on backend infrastructure provided by giants like Amazon or Microsoft’s Azure, unfortunately, there’s always room for human errors and various emergencies.

✔ Does the SaaS vendor offer consulting services?

Besides the appropriate set of tools and procedures, the industry expertise of a vendor can totally make or break the results of converting to a SaaS platform. Proper guidance will help you set the right strategy, design a program based on industry best practices, educate end-users, and ensure maximum adoption among your target audience.

✔ Does the SaaS vendor provide reward fulfillment services?

If you plan to use a point-based rewards catalog, the best option is to choose vendors that offers full integration. That’s the only way to be sure that the rewards selected by your customers or channel partners will arrive in time and without unwanted problems.

As you can see, selecting the right SaaS platform for sales rewards is no small task. Partnering with Online Rewards for your SaaS platform sales rewards program will ensure your business and your team get everything they need out of the program. We provide custom strategies that will suit your business needs, both today and tomorrow.