Although customer relationship management is the largest market for the software-as-a-service (SaaS) model, it isn't the only successful application of SaaS, says a new report from Gartner. According to the report, SaaS adoption is occurring in many IT sectors, including procurement, document management and e-commerce.
The second-largest market for SaaS models, Gartner reports, is governance, risk and compliance management, which has become a permanent element of the financial services industry. Compliance management's rapid adoption of SaaS, according to Gartner, can be explained by its effective combination of business and technology trends.
SaaS is proving successful in the management of this business facet by easing the burden on firms to address the constantly changing regulations, Gartner explains. Ongoing upgrades and solution improvements are inherent to the SaaS model, making it a perfect match for coping with frequent updates, adjustments and modifications of industry rules and regulations. <<<