Last week we named a new client for our global trade finance SaaS platform with the media announcement "CGI to work with Scotiabank for global rollout of CGI Trade360®." As president of CGI in Canada Doug McCuaig cites in the release, "Moving its legacy system to a managed service application delivered in the cloud will help accelerate expansion of Scotiabank's global trade business, while ensuring a secure and reliable platform."

And this is exactly what's attractive about software as a service solutions: You can take advantage of an application that drives revenue, reduces costs and eliminates risks without having to get mired in the upgrades, hardware and other time- and cost-consuming activities of managing an application in-house. Yet, often, a client's first reaction is that SaaS should be reserved for smaller applications. There is a misperception that their core, global applications must stay in-house to preserve the traditional ideas around control.

I often encounter this when speaking with prospects about the CGI Trade360® platform. Banks assume their trade transaction processing system—one that is core to their business and is relied on globally on a 24/7/365 basis—could only be managed inside the organization. Yet once a client, they become fans of the large SaaS application approach.

Whatever your industry and application need may be, here are a few areas to examine when considering large SaaS applications to help manage your business.

• What is the pace in which the SaaS provider rolls out new capabilities? For example, with CGI Trade360®, we offer 3-4 releases a year that allow clients to take advantage of new capabilities and ongoing advancements.
• Is the vendor capable of evolving the application to meet industry opportunities and regulatory or other requirements? Within our CGI Trade360® development and delivery team, we often understand more about the needs of a global trade finance organization than the bank's own IT shop because it's our core business. Plus there's no need to be caught in the middle of the IT department's competing priorities.
• Is the SaaS solution based on events that drive revenue? Our SaaS solution is priced by volume and based on events that drive revenue; therefore, the clients' costs are always aligned with revenue.

So don't be afraid to go big with SaaS; just be certain that the provider has a solution that is secure and robust, keeps pace with your industry needs, and is designed to drive revenue.