If you’re looking for an ESEF report creation software and wondering if a SaaS or cloud-based solution is worth your time and money, this article is for you.

Cloud-based solutions are generally more cost efficient compared to on-premise software and offer greater scalability and security. Moreover, they can facilitate a more collaborative ESEF report creation process. We will discuss these benefits further after first elaborating on cloud-based solutions.

The terms cloud-based solution and Software as a Service (SaaS) are generally used interchangeably, and for ease of understanding we’ll use the term SaaS for the remainder of this article.

What is SaaS?

SaaS is now one of the most commonly used terms in information technology parlance. Put simply, SaaS is software hosted on the cloud and managed remotely by a service provider. Users access the software on the internet using a web browser.

SaaS is delivered via a subscription-based model, wherein customers purchase a license to access the software. Technology research and consulting company Gartner defines SaaS as a software that is owned, delivered, and managed remotely by one or more providers.

Common examples of SaaS include email services such as Gmail, office tools like Microsoft 365 and messaging apps like Slack.

Moving on, let’s see some of the benefits of the SaaS model…

A ready-made product

A SaaS solution is ready for use. All a customer needs to do is purchase the software license, have user ids created, log in, and start using the software.

Collaborative work; easy access

SaaS solutions allow multiple users to work on the same document at the same time. And since access to the solution is via the internet, users may log in from anywhere they desire.

No Infrastructure investment

Since the SaaS solution is hosted remotely and maintained by the software or service provider, companies need not invest in infrastructure such as servers and spend on maintaining and updating them.

Scalability

Since the software is hosted on the cloud, SaaS solution providers can accommodate the growing business requirements of firms by adding more users and providing access to increased data storage.

Industry-best security

Since SaaS solutions usually have a larger geographical footprint and are centrally hosted, they invest heavily in the best security-related audits and certifications. When you opt for a SaaS solution, you can rest assured that the software has passed through stringent scrutiny by various industry bodies and associations.

Need a SaaS solution for your ESEF compliance?

SaaS, XBRL, iXBRL, cloud, cloud based, 

SaaS, XBRL, iXBRL, cloud, cloud based, 

SaaS, XBRL, iXBRL, cloud, cloud based,