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Transitioning to SaaS: How inspace pivoted to become a fully SaaS model in 2021
The new normal, a term we’ve been hearing a lot more frequently in the last few months as lockdown restrictions start to ease and businesses start opening their doors again. The new normal for places of work means that offices will implement strategies to transition into more flexible/hybrid offices. The design of hybrid offices focuses on minimum constraints and a great deal of autonomy for employees. The traditional 9-5 in-office requirements are a thing of the past, and employees can choose a good mix of when they work remotely and when they come into the office.
Along with the increase hybrid offices implemented worldwide, flexible offices are also a growing trend that will be part of the new normal. Flexible offices, also known as flexispace, are the redesign of offices to be more dynamic and encourage creative thinking and productivity by providing employees a variety of different spaces to work in the office instead of having a designated 6x6 inch office cubicle. According to a report by Microsoft on the new Hybrid work disruption, 66 percent of business decision-makers are considering redesigning physical spaces better to accommodate hybrid work environments.
inspace is changing the way offices utilize space by being the first employee-centric UX for finding and booking office workstations. We started with the idea of creating devices based on iBeacon technology, simply meaning that we could build devices that allow for wireless transmitters using low-energy Bluetooth technology to send signals to other smart devices nearby. The devices were thick and required drilling holes in the desks for the installation. Not ideal. We then continued to innovate and came out with the second prototype based on Near Field Communication technology (NFC), connecting easily with smart devices. Our new devices were sleek, elegant, unobtrusive, didn’t required wires, batteries, quick to install, and can be shipped anywhere.
inspace keeps up with an ever-changing landscape of innovation and listens to our clients’ needs to transform into fully functional hybrid workspaces. So we’ve decided to take smart office devices to the next level by transitioning to a SaaS model. The transition to SaaS can be complex and challenging. Some things we did to make the transition from devices easier includes:
Along with the increase hybrid offices implemented worldwide, flexible offices are also a growing trend that will be part of the new normal. Flexible offices, also known as flexispace, are the redesign of offices to be more dynamic and encourage creative thinking and productivity by providing employees a variety of different spaces to work in the office instead of having a designated 6x6 inch office cubicle. According to a report by Microsoft on the new Hybrid work disruption, 66 percent of business decision-makers are considering redesigning physical spaces better to accommodate hybrid work environments.
inspace is changing the way offices utilize space by being the first employee-centric UX for finding and booking office workstations. We started with the idea of creating devices based on iBeacon technology, simply meaning that we could build devices that allow for wireless transmitters using low-energy Bluetooth technology to send signals to other smart devices nearby. The devices were thick and required drilling holes in the desks for the installation. Not ideal. We then continued to innovate and came out with the second prototype based on Near Field Communication technology (NFC), connecting easily with smart devices. Our new devices were sleek, elegant, unobtrusive, didn’t required wires, batteries, quick to install, and can be shipped anywhere.
inspace keeps up with an ever-changing landscape of innovation and listens to our clients’ needs to transform into fully functional hybrid workspaces. So we’ve decided to take smart office devices to the next level by transitioning to a SaaS model. The transition to SaaS can be complex and challenging. Some things we did to make the transition from devices easier includes:
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.
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.
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