Discussed the transition with the team
The transition to SaaS was initially a 5-year plan we had developed. That plan changed when the Founder and CEO found herself having some free time due to public holidays back in her home country. This caused the 5-year plan to be shifted to a 10-day rapid implementation quickly, luckily, this is a close-knit team that pivots and gets things done in the knick of time.Created SaaS specific business metrics
Metrics including the Monthly Recurring Revenue (MRR), Annual Recurring Revenue (ARR), a Churn Rate of 5% per year, and Life Time Values were discussed and included in the plans. Changed the sign-up process
We automated our sign-up and implementation processes. By creating a simplified version of the app for our clients, they can download our app and change all features as needed without the need for us to go into the offices and install physical devices. The need for in-person installation is based on the plan. Our different pricing plans accommodate different-sized companies. Three options include a Basic plan, Pro Plan, and Enterprise Plan. The Basic plan is cloud-based and doesn’t require physical devices. The Pro plan is also could-based but uses devices to gather data on office usage. Lastly, the Enterprise plan has features such as on-site storage, unique customizations a personal account manager. We hope that these few tips on transitioning to SaaS will help other entrepreneurs with their business model developments. As for inspace, we’ll be continuing to make it more effortless for offices worldwide to be flexible. For more information on our free trial, please visit our website here.