According to a recent Business Today article (Jan 25, 2023), India has become the second-largest SaaS (Software-as-a-Service) ecosystem in the world. The total annual recurring revenue (ARR) of Indian SaaS firms has grown four times to $12–$13 billion in 2022. According to Adrian Johnston, Senior Vice President, Cloud Applications, Oracle Japan and Asia Pacific (JAPAC), Oracle SaaS India business experienced 100% growth in education.
SaaS is a platform approach to providing online educational services to learners, educators, and institutions, including e-learning courses, video lectures, career advice, and online assignments. It is a delivery paradigm in which software is delivered through the Internet, typically through a subscription. “SaaS provides strong virtual platforms that can reach various dispersed populations regardless of their location or background and create a dynamic and interactive learning experience. These experiences engage students and foster critical thinking,” states Vineet Gupta Ashoka University Founder.
Compared to traditional classroom learning, digital learning platforms are more flexible, allowing students to learn at their own pace. However, they lack the interaction and engagement associated with traditional classroom learning. Traditionally, the education system has had its benefits but also its shortcomings, such as inflexibility and rigid schedules. Bringing together the best of online and traditional models, a hybrid SaaS-based education platform can transform higher education by eliminating various negatives. Gupta points out, “The increased emphasis on skill development and employability is particularly driving the demand for the market. While the traditional education system has its benefits, it is high time we embrace technology to revolutionize the way we learn. A hybrid model that combines traditional classroom and online learning benefits can provide students with a holistic learning experience and prepare them for the competitive future.”
SaaS-based platforms often include tools for virtual classrooms, video conferencing, content management, and student monitoring. In addition to providing flexibility of online learning, educational institutions can offer engagement and interaction opportunities through virtual classes, discussion forums, and other interactive features through the deployment of SaaS based platforms along with their traditional teaching-learning processes. High-quality education can be made more accessible by removing financial, geographical, and temporal barriers.
According to Vineet Gupta Ashoka Founder, “integrating SaaS-based education platforms into higher educational institutions requires a collaborative effort between Edtech companies and universities. Edtech companies can provide the technology and tools required for online learning, while universities can provide the academic rigor and support required for high-quality education. It is this collaborative Hybrid model that can truly revolutionize higher education.”
Students can access a more personalized and adaptive learning experience by utilizing these technologies. As a result, students are not only prepared for future workplace demands but also maximize the educational results.
Vineet Gupta Ashoka University Founder highlights, “The integration of SaaS-based education platforms can transform the conventional education model and pave the way for a more effective, engaging and innovative approach to learning. It can assist teachers to produce and deliver excellent material that satisfies the requirements of the students and at the same time provides flexibility to the students in various ways. By fostering a more interconnected and interactive learning environment for students and educators, we can alter how we teach and learn while redefining the education sector globally. It can develop fresh possibilities for students, teachers, institutions and society.”
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