Key SaaS factors Trending in 2019 and how to align them to enhance Business Growth
Software as a Service (SaaS) has become more visible in the functioning of the organization that is opting for versatility and accessibility in terms of customer services, marketing strategies and sales. Various researchers have shown that there has been exponential growth in this platform where experts have forecast that the global SaaS market would reach $157 billion in size by 2020.
To stay ahead in this competitive world, the organization must update themselves with the latest trends prevailing in this platform in 2019 and adapt accordingly and get access to innovative and cutting edge SaaS Solution.
I. Vertical SaaS
This focuses on specific industries and targets their clients in a customized way. It has proved to be beneficial for industries such as retail, healthcare and logistics sectors. SaaS Company could utilize it because it can adapt as per the needs and demands of the customers as well as industry. There are various advantages associated with vertical SaaS:
§ Cost-Effective
§ Industry-Specific
§ Provide Customer-Focused Insights
§ High Business Value
§ Improved Data Governance
So adapting to this trend would help you to enhance your growth and satisfy your customers in providing high-quality services.
II. APIs and Integration
There has been increased urgency to integrate the Application Programming Interface (API) with the existing business system for proper utilization of the data based on a cloud solution. This would be beneficial for the companies as they would be able to transfer their protected data easily through APIs without the involvement of the cost and time constraints.
III. Artificial Intelligence (AI)
This is one of the widespread technologies which have taken the world by storm. It helps in increasing the efficiency and productivity of an organization, which in turn optimizes the business process. In the case of business scenarios, the organization can get a higher level of degree of interaction and responsiveness between technology, business, and customers and that too, with the help of AI. There are various areas where AI is supporting SaaS applications, which in turn would also be exploited by the business to enhance their growth:
§ High Personalized Services
§ Automation
§ High Security and Speed
Thus, you could contact the best SaaS Development Company, who is an expert in providing AI based SaaS services and would enhance the sales and revenue of your services.
IV. Migration to PaaS
With the evolution of the SaaS industry, the concept of innovation has grown manifold, compelling the developers to focus more on customer retention. That said, the recent trends in 2019 are demonstrating that SaaS is on the way to migrate towards PaaS (Platform as a Service). There are three advantages associated with PaaS platform:
§ PaaS is a flexible, robust and accessible platform which you could utilize to scale your business in an effective manner
§ There is an automatic update daily on this platform resulted in a high level of security
§ It can customize the functionality and features of a business to increase innovation in services and allow you to focus more on the core initiatives
V. Payment Models
Conventionally, subscription payment models have been in operation among SaaS companies. Nevertheless, in 2019, this trend is going to change as transaction-based payment models would gain prominence. This model helps in building stability in your business by focusing on an annual subscription and thus lay a strong base for your enterprise on the form of revenue growth and addition of new customers.
Wrap Up
A silent revolution is going on among industries concerning SaaS. With the latest trends of AI and PaaS, SaaS would be able to present new and lucrative opportunities for the organization to provide customized solutions to the customers and improve their retention. So opt for best and effective SaaS Development Services and avail their benefits for boosting your business growth.
