Top 5 Reasons Offering Self-Managed Software Will Make You a Ton of Money
Top 5 Reasons Offering Self-Managed Software Will Make You a Ton of Money
Self-managed software has countless benefits to Independent Software Vendors. It provides a sense of control and security, allowing ISVs to maintain full ownership and governance over their data and infrastructure. It enables customization and flexibility, empowering businesses to tailor solutions to their specific needs, integrate with existing systems, and adapt to evolving requirements. But, most importantly, offering self-managed solutions can earn your company a ton of money. Here are the top 5 reasons why:
1. You can sell to super-secure accounts
Offering self-managed software is often a requirement if you want to sell to companies that are highly secure and value protecting their customers’ data above all else. Think government agencies, healthcare institutions, financial services, and R&D firms. To gain the interest of these companies, you need to offer self-managed solutions.
2. You can sell to large enterprise accounts
Big corporations often have complex IT infrastructures and stringent security requirements. Many of them prefer to buy self-managed solutions so they can keep full control over their environments and integrations. If you want to close huge accounts, offering self-managed is a must.
3. The value of each self-managed account is much, much higher than the value of a SaaS account
Companies who choose to buy self-managed solutions are in it for the long haul, and are willing to go through a longer onboarding process to have better control over their software. In addition, the annual revenue from a self-managed account is often 6X that of a SaaS account. People are willing to pay a lot more for security and control - and 42% of companies admit to losing revenue by not offering self-managed (Dimensional Research).
4. Companies who buy self-managed are happy with their results
Companies who buy self-managed software value having control over their own environments, and will put in the time and effort to see positive results. 93% of self-managed customers are happy with their software, which means they’re more likely to stay with you longer and recommend your product to others.
5. Lots of companies are planning to offer self-managed software, but aren’t yet
65% percent of companies not offering self-managed today plan to - so there’s a great market opportunity here. If you already have the capability to sell self-managed, or plan to, you’re already far ahead of many companies in your industry. This means you’re also far ahead in potential profit.
6. Bonus! An On-Prem Implementation Often Gets Approved Way Faster Than SaaS
You can accelerate revenue recognition and reduce risk by providing customers with software in the environments they prefer. It can take months to do SaaS security review, and our team has found that security teams approve on-premise implementations in much less time.
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Replicated Helps
Thinking about offering self-managed, or currently offering self-managed and looking to streamline your product? Replicated helps ISVs distribute their software into customer-managed environments by taking care of the hard parts of self-managed. Distribute your software in hours instead of weeks, and use Replicated to scale your offering without scaling your team or budget.