While Software-as-a-Service (SaaS) isn’t a novel offering, it has continued to evolve steadily to keep up with the latest inclinations in the technology sector. Its application has steadily been deemed as an ever-increasingly more worthwhile investment for enterprises looking to augment their business processes and remain competitive as we venture into the world of new normal. So, what are the key features companies keen on utilizing SaaS are looking for?
Essential Attributes
1. Scalability & Accessibility
SaaS with cloud technology allows companies to grow with ease as a direct result of its intrinsic scalability, allowing them to choose or remove options and features according to their business needs. Cloud technology also makes direct accessible possible through any smart devices anywhere on the go.
- Better Payment Choices
Unlike before, companies no longer need to invest in the buying of software and hardware as they now have the choice of picking one of many pricing packages best suited to their individual needs and usage.
- Greater Collaboration
SaaS has made simple and effectual interdepartmental collaboration easy and feasible, facilitating heightened transparency and swifter sharing of information.
- Enhanced Security
A majority of SaaS models boast a more comprehensive slant towards security than many centralized, on-premise solutions. Their advanced disaster recovery conventions ensure data is protected even if a data breach or system failure occurs.
- Automatic Updates
SaaS solutions and software can be updated automatically without the provider having to manually inform the customer each and every time they need to download and install and update, allowing them to continue operations without disruption.
Top SaaS Trends of 202
1. Artificial Intelligence & Machine Learning
In 2021, AI is set to be the ultimate game-changer. No longer in its infancy, AI optimizes business processes, boosts productivity, enhances efficiency, augments human capabilities and allows for the automation of repetitive tasks, thereby delivering an increased level of responsiveness, personalization and engagement between companies, clients and technology. With the sheer volume of data that can be amassed today, AI is the ideal candidate to help make sense of it all and provide decision-makers with the most viable choices to help guide decision making and strategic planning.
- Migration to PaaS
Innovation in the SaaS sector is continuing to soar at breakneck speed to keep up with ever-changing customer demands. To stay on top of the competition and keep their clients happy, SaaS providers are now pivoting towards platform-as-a-service (PaaS), which allows businesses to create their own personalized apps or add-on to their existing software or solutions. Its robust features endow companies with the key benefits of agility, security and scalability when using PaaS in their developments.
- Vertical SaaS
There are two kinds of SaaS: Horizontal and Vertical. Horizontal targets clients across all industries while Vertical is totally customizable and targets clients within specific sectors. Businesses looking to take advantage of such specialization are electing to utilize Vertical SaaS due to their cost-effective and highly customizable nature. What’s more, Vertical SaaS offerings allow for more flexibility, increase upselling opportunities and lowers customer acquisition costs.
- Mobile-First Focus
As the number of business owners and employees utilize their smartphones to run their companies or carry out their jobs has increased over the years, so too have SaaS vendors shifted their focus to cater to this demand of users wanting to utilize their phones for work. With many SaaS platforms and systems now having accompanying mobile apps with a high degree of functionality and features, it is no wonder that this is fast becoming a favored platform for its users. We can expect to see continued improvement and enhancement of the mobile version of SaaS platforms and tools to match this paradigm shift in 2021 and beyond.
- Micro-SaaS
While the SaaS market space is dominated by a handful of players, smaller micro solutions are being created by innovative enterprises that enhance the functions of core niche solutions. Generally speaking, a micro-SaaS is a small tool, such as extensions, plugins and add-ons, created by a single person or a small team looking to enhance the existing functions or improve a missing feature of a particular SaaS product. Micro-SaaS require reduced costs and can be easily designed without the need for external investment and often deliver higher profit margins, which have caused an upsurge in the number of micro-SaaS offerings.
- Increased Demand for API Connections
The Application Programming Interface (API) has long been an essential component of software development. With the tsunami of SaaS solutions being developed and flooding the market, the requirement of having to harmonize them into an existing business infrastructure has emerged. Whether enterprises are looking to integrate with their existing system framework or move all their data to a cloud-based server, this demand has caused more SaaS providers to offer more integration functions rather than send their customers to third-party vendors.
- White Labeling
SaaS white labeling is a process in which a solutions provider creates a fully developed, tested and actualized platform before selling it to another company for them to customize and sell it as their own branded product or harmonize the solution into their own software. White labeling can be a way of getting their foot in the door for smaller ventures or startups seeking to gain a slice of the market share swiftly and economically. By developing their own platforms and white labeling them for large players, they can use it as a means of promoting and selling the platform as their own.