With new technological innovations appearing each day, the SaaS industry has never been more attractive to business leaders. This model allows you to create a platform for almost any niche and cater to your company’s needs with the utmost precision.
However, if you want to achieve success in this domain, you need to keep your eye on the biggest SaaS trends.
AI & machine learning
AI seems to have been one of the most talked-about innovations in the last few years since it’s been available to the public. In the business world, AI and ML are finding more and more applications due to both the growing needs of various companies and the advancements made in AI.
One of the biggest advantages of implementing this technology into your SaaS solution is that you’ll gain access to predictive analytics. This feature uses past interactions users have with your company to improve future ones. This helps them venture through the customer journey while minimising the effort you’re required to put in.
AI can also, in some ways, serve as an additional team member. This is especially useful when you have strenuous and mundane tasks. An example of this would be chatbots, which allow you to offer 24/7 support to your clients without needing additional employees to cover the extra shifts. Your existing staff can now focus on tasks that require more attention and focus.
Vertical SaaS is a term used to describe cloud solutions that are niched to a specific industry. Most commonly, these are
- and retail.
One significant benefit for service providers from these industries is the fact that they can fully customise their platform to fit their exact needs. For example, a smaller medical institution wouldn’t need the same capabilities as a large hospital. It can save money by subscribing to a SaaS server rather than paying the full price for a platform that they won’t use to its full extent.
The fact that niche industries such as insurance, construction, and fitness, which are also frequent SaaS users, have been seeing a boom post-2020 also means that the SaaS industry is now more than thriving.
Valcon has been closely following these trends and helping companies keep up with them even since before the boom. This experience allows us to keep all our clients satisfied and ensure the highest quality of the solutions we deliver.
Integrated API connections
Depending on multiple vendors and their apps for a single task has always been a nuisance to users. Thankfully, those days are over – with the rapid growth of cloud-based systems in the past couple of years, services are now more connected than ever.
Integrating APIs allows one platform to handle data from another one, making the user experience smoother. One famous example of this would be PayPal, which is connected to many e-commerce websites, allowing users to make payments without leaving the shopping app. Depending on the specific business you’re in, different API integrations will be necessary, which is why building custom SaaS platforms is something many industry leaders are choosing to do.
Using white-label products and services means purchasing the rights to an existing solution and selling it under your brand name. For example, a SaaS provider who wants to incorporate a chatbot into their platform can reach out to a white-label company and purchase one. Then, the feature is built into the platform and made to look like a part of it, giving users a seamless experience – they often don’t even know when a feature is integrated in this way.
Selling white-label SaaS solutions is a prevalent option for larger agencies to resell to small businesses. The professional-grade feature gives the user a sense of trust, while the business only has to pay for a subscription fee instead of an in-house IT team to create and maintain the system.
In case you’re looking to hop on the white-label trend, we’d be glad to support your journey.
Bundling your services means incorporating similar ones into one product. For example, Microsoft has a bundle product that includes all of its Office apps. On the other hand, unbundling is the opposite – focusing on a core feature. This practice was adopted by giants such as Zoom and Skype.
This is growing in popularity because users often don’t need all the products from one bundle but will purchase it for just the one they do. SaaS providers have noticed this trend and are helping their clients save money by giving them the opportunity to invest in just the app they need. Plus, working on just one feature allows teams to keep their focus and ensure that this feature is in the best shape possible.
Keeping up with industry trends is certain to keep you ahead of the competition while exceeding your customers’ expectations. The same can be said about integrating the innovative features we mentioned in this article.
To sum up, the key SaaS trends of 2024 that you need to be prepared for include:
AI and ML
Want to know more? If you want to reap all the benefits of these and any other features you have in mind, Valcon is here to support you through your journey. Please reach out to [email protected] today.