Look for These Exciting SaaS Trends in 2021
SaaS can help you affordably grow and improve your business, check out these exciting SaaS trends for 2021 and stay ahead of the curve.
Software as a service, a branch of cloud computing, has been growing in leaps and bounds over the years. You’re probably familiar with many of them even if you aren’t familiar with the acronym SaaS.
Shopify, BigCommerce, MailChimp, Google G Suite and Microsoft Office 365 are all great examples of SaaS applications. In short, they provide large and small businesses, as well as personal users, with an attractive alternative to purchasing expensive software.
SaaS is a cloud-based application that’s centrally-hosted. Software as a service is also known as on-demand or web-based software. No longer do you have to invest in expensive software that may or may not be a good fit or software that you may only need for a short time. SaaS applications run on the servers of the SaaS provider. Therefore, subscribers don’t have to install it, and the provider handles the maintenance, security and performance issues. SaaS has several benefits over purchasing software licenses. The software is accessible from anywhere with an internet connection, any time of the day or night. Also, multiple people (thousands, even) can access it at the same time. Being licensed on a subscription basis means that you subscribe for only as long as you need it, for the number of users who need it and at the service level you need. These subscriptions allow your software solutions to grow in step with your business’s growth while being much more cost-effective for the company.
Here are a few of the current most impactful SaaS trends:
Vertical SaaS
The focus of horizontal SaaS is on clients across any sector and industry. Conversely, vertical SaaS development allows for total customization to target specific customers in distinct sectors. This customization makes it easier to adapt the software features to the client and industry, which better suit the client’s niche.
Artificial Intelligence
Artificial intelligence technology has become a massive game-changer in many aspects of our society, and it’s only growing and evolving. Using AI, businesses can automate and personalize their services, enhancing the work of humans. Companies are also able to get more valuable information from their data and improve security.
Business processes are optimized thanks to AI. With its help, these operations are faster, more efficient and more productive. Artificial intelligence supports human skills while automating repetitive tasks. It also allows for increased responsiveness and interaction between businesses, customers and technology.
Data alerts are one of the invaluable outcomes of AI and machine learning algorithms working together. They look for anomalies and recognize patterns, learning from trends and patterns over time to alert the user when a pre-set goal or unexpected event occurs. This technology allows for more control over your business without the need for humans to continually monitor it. It also has self-recovery built-in to solve problems, which will kick in possibly before anyone even knows there is an issue.
Machine Learning
Machine Learning is a subset of AI. In SaaS, ML is utilized for automating responsiveness in applications, such as AI-powered live chatbots. The autonomous operational model on which ML is built allows businesses to continue to automate large portions of their internal operations. Machine learning can assist a SaaS application by automating the onboarding process, training the software for greater intelligence during operations, interpreting data and improving internal operations and collaboration. As one of the fastest-growing segments of the software industry, ML is becoming increasingly relevant for SaaS in business.
Centralized Analytics
Centralized analytics enables businesses to gain better insight into their customers while streamlining their organization. Every team member can access critical business performance data from a single source and on any device.
Improved Mobile Optimization
These days, the internet and mobile devices allow people to continuously remain connected. This means that people can be considerably more productive than ever. The variety of available tools enables employees to handle essential business aspects not only from their desktop computers but also from their laptops, smartphones and tablets. The appearance of the COVID-19 pandemic has caused the mobile SaaS demand to increase even more (e.g., Zoom has been invaluable for holding virtual meetings). The need has been so significant recently that most SaaS companies have begun to focus on improving mobile optimization for a mobile-first design and development. It will be essential that business intelligence tools be optimized to work across various devices, both mobile and static. You’ll also see advancements in the personalization of mobile apps. The features and functionality of these business intelligence tools will become more responsive. Intuitive filtering and one-swipe actions will make for quicker and easier usability. People with various disabilities (vision or hearing impaired, learning difficulties, autism) will also enjoy accessibility expansions. Augmented and virtual reality will enable increasingly more immersive mobile experiences. User feedback alternatives will also allow better mobile platform updates and developments.
Micro-SaaS
With the popularity of SaaS, the industry has become more competitive with these companies. They have to work to be more innovative and set themselves above the rest of the market. Micro-SaaS applications tend to be more niche, mini products that are add-ons for enhancing an existing SaaS platform. Micro-SaaS businesses are usually run by only a few people, sometimes just one individual.
No-Code and Low-Code Platforms
Due to no-code and low-code platform advancements, people no longer need an extensive amount of technical experience to create their SaaS-based content. This allows developers and engineers to concentrate on more important things to the business than the supporting tasks required by standard platforms that require more coding. Consequently, technical workers are more productive working on projects like innovating and marketing aspects to make their business stand above the competition.
White Label SaaS
White label SaaS is becoming increasingly more popular recently. A software-based business will sell a platform that they’ve created that’s been fully developed, tested and finalized. The company that buys it can customize it and sell it under their branding. Startups will find white label SaaS to be very valuable to their business because it requires fewer logistics and expenses. They no longer have to start their business from scratch; by already having a framework, they can concentrate on more critical aspects of the company, such as branding and marketing strategies. White label SaaS is also being expanded to platform frameworks. For instance, a brand may create an application for mobile payment and loyalty programs for their own brand’s use then market it as a white label for other brands to use as their own.
The ever-evolving SaaS industry and all of its trends will make for an exciting 2021 and beyond. As these developments improve, innovations are created; look for more mobile-first SaaS, AI-empowered SaaS, micro-SaaS, vertical SaaS and low-code options, just to name a few. Not only do businesses of all sizes greatly profit from these excellent software-centric, cloud-based solutions, but the general public also benefits tremendously from these innovations. Everyone enjoys the more affordable, versatile and convenient data-driven option of software as a service.
