SaaS (Software as a Service) is the most popular software distribution model that serves an organization to enhance areas such as sales, customer service, and marketing strategies.
Organizations are shifting all their applications to SaaS platform significantly. This is due to the cutting-edge technology and strategies of SaaS to attract, to sell and serve customers better.
The traditional software model has led to several challenges which has slowed its pace. The evolution of SaaS has been resolving those issues with the advancement of technologies. The past five years have been a boon for SaaS companies with its beneficial features.
Studies have shown that the rate of SaaS adopting companies will be increased in the year 2020. Since the customer expectations are constantly changing, businesses are looking for the latest SaaS trends to fulfill it efficiently. Read this article to know the evolution of SaaS in 2019.
Artificial Intelligence and Machine Learning
Artificial Intelligence (AI) and machine learning technologies have been developing rapidly in the current SaaS market. Organizations are planning to automate various business activities as much as possible for the working employees which could help enhance productivity.
On the other hand, e-Commerce companies are considering the importance of mass customization in sales and marketing strategies. These strategies showcase the importance of AI and machine learning and the essential aspect of SaaS products that enterprises are ready to pay for.
APIs and Integration
Since the inception of tools and technologies, the companies tend to take a shift from traditional old methods to a new one in order to satisfy contemporary needs. Similarly, organizations are deciding on and switching to a SaaS platform which can optimize their needs.
Understanding the present data and protecting and transferring the same with the help of APIs in a cost-effective manner. Companies are expecting to have more SaaS features in 2019 for the tools already being used. Obviously, you can get many integration tools to combine with the existing one’s and serve clients based on their requirements.
Mobile Compatibility Feature
Nowadays, most of the business owners and employers are making use of mobile phones to connect and run their companies. This venture is possible when SaaS solutions are optimized to adapt to mobile options for enabling users to work with much comfort.
SaaS platforms possess effective mobile applications to serve the customers in accordance with their preference. Mobile compatibility is one of the essential features to create and develop the mobile version of the product or service by SaaS companies.
Improved Security Features
A data breach is become a common issue that happens often due to cybercrime or malicious attacks that occur in the Digital World. With the development of SaaS, a data breach is also growing along with it.
Technical experts have implemented Artificial Intelligence and Machine learning techniques to ensure security to the cloud service model by detecting the threats automatically. With this enhanced security feature, the organizations are given an opportunity to prioritize their privacy and security for confidential data.
Generally, SaaS companies might spend only about six hours to decide on pricing approximately. In 2019, the SaaS service providers have enhanced their platform to discover advanced features and fix the price depending on it. This can lead to SaaS companies creating a data-driven pricing technique to boost up their revenue.
Enhanced Payment Model
In the past years, the SaaS companies have operated the cloud services based on subscription method in which the user pays either monthly or annually. The B2B business like content management, email marketing, and CRM are the best payment model for its stability and convenience.
With the emergence of new features, SaaS companies are considering a transaction-based payment model as the best choice. This transactional model is also known as ‘Pay-Per-Use’ model that works well for a business that provides one-off products.
Both transactional and subscription models are comfortable for the users. Hence it is essential to analyze the metrics of your business and opt for a suitable payment model.
Shift from SaaS to PaaS
At a certain stage, the SaaS service providers planned to turn their efforts from customer acquisition to customer retention. In this case, Platform as a Service (PaaS) is one of the most effective solutions to attain the goal.
The best part is, that, it enables the users to add new applications for the original product and deploy the code quickly. PaaS greatly helps them to extend their capabilities regardless of using additional software or hardware infrastructure for it. This showcases the responsiveness of SaaS companies in meeting the customer needs and providing more resources to development.
The evolution of SaaS has contributed to the birth of several powerful technological trend in today’s digital world. With the development of SaaS platforms, this evolution leads to a more exciting venture in the upcoming years. Get updated with the latest trends to stay active in the competitive market and helps the relevant users, as well as their customers, have a new experience with it.