A decade back, there was a clear distinction between services and software companies in IT sector. Traditionally, service based companies meant to provide consulting, maintenance, support, and related services. On the other hand, it was only giant product-based IT companies that had taken the major market share for years. However, as the technologies kept evolving, particularly SaaS, the difference started to blur.
Thanks to the competitive world, companies are striving to be better and adopt holistic approach to meet their client needs. Right from the business perspective to technical requirements, every solution is served under one umbrella. Of late, this trend has taken over services sector wherein, companies are trying to become full stack service provider and utilizes the strength of software to reinforce extraordinary customer experiences.
Software has become an essential component to meet client business needs. Now, solutions are not provided in bits and pieces. In fact, the focus has shifted to providing comprehensive and end-to-end business solutions, whether it involves business acumen or highly advanced software. In crux, it can be said that companies no longer battle to provide any given service such as maintenance and support; now the challenge is to encompass every aspect of business and provide an all-inclusive solution.
Not just the main players, but the start-ups are also gaining service-as-software advantage over standard or traditionally-run services companies. Start-ups are now more directed towards providing end-to-end solutions. For an instance, a grocery company that intends to sell online is no longer just about free home delivery. It is rather a massive grocery system that works through a software that is equipped with a number of features to cater to individual needs and even after-sales- Track your order, Cancellations, Easy returns are just to name a few. Suddenly, a simple services company takes the shape of a robust grocery mechanism operating flawlessly in every nook and corner of the country. This is the transition that services companies are witnessing. They are adopting for more- More involvement with the customer needs, more offerings under one roof, hence, more end-customer service delivery experience and satisfaction.
The only challenge of providing end-to-end service is that the company has to excel at various levels such as operations, technology, user experience, supply chain, customer support, to beat the competition. If you are able to provide full stack of services to your customer, you are a sure shot in the business. This is what all the services based companies are trying to achieve and in fact, have already succeeded to a great extent. By turning to ‘service as software’ concept, services companies have acquired a large chunk of their respective market share.
The time is to build custom software to suit your client needs and provide them with comprehensive services that includes business acumen as well as technology. Services based companies seem to undergo a transformation in terms of their strategic vision by adopting a full-stack-offerings approach. In the coming years, the so-called difference between software/product or services companies will completely vanish as the big convergence is gradually taking place.
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As an engineer turned entrepreneur, I like to mix artistic and technical things with business activities and try to produce something innovative. The motto at work: Be a rockstar at your place and don’t be robotic!!!