Top 7 Trends in SaaS for 2023

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The availability of digital tools has revolutionized various aspects of daily life and work life. While end-users may not always think about the technologies and trends behind such tools, these are things that companies should look into, especially if they plan to offer similar services. More specifically, they may be looking into offering what is referred to as software-as-a-service. 

What is SaaS?

Software-as-a-Service (SaaS) is a software licensing model that allows access to software on a subscription basis. SaaS enables web users to access programs via the internet rather than installing the software on their computer. 

Considering the growing demand for SaaS, it is no surprise that a SaaS product development company continues to inevitably rule in a variety of industries. Even more individuals and companies could avail of such product development services over the years. 

Key SaaS Trends

For those who are into the industry or who are thinking of getting their own SaaS product developed, here are some key trends to take into account. 

  1. Evolution of work setup
  2. Artificial Intelligence 
  3. Low-code
  4. Niche Micro-SaaS
  5. Employer Branding
  6. Extreme transparency through content
  7. Integration 

Evolution of Work Setup. Remote work has been seen to offer awesome advantages. With this trend, companies are now allocating funds to accommodate teams that are not physically together. This reveals the need for remote software solutions.

LONDON, ENGLAND – NOVEMBER 29: Robotics student Gildo Andreoni interacts with a Dexmart robotic hand built at the University of Bologna in the Robotville exhibition at the Science Museum on November 29, 2011 in London, England. The Science Museum’s Robotville exhibition showcases 20 unique and cutting-edge robots from European research laboratories, it is free to enter and runs from December 1-4, 2011. (Photo by Oli Scarff/Getty Images)

 

Artificial Intelligence (AI). AI is one of the most significant innovative technologies. Its capabilities cannot be overlooked. With the advancement of technology, AI has inevitably seeped into daily life and almost every business. It optimized business processes and automated redundant tasks. Such a trend and technology are ones that SaaS providers should capitalize on and not bypass. In fact, Al has been bringing about changes in the SaaS industry for the past few years.

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Low-code. Low-code is often misunderstood as no-code and viewed as a drag-and-drop solution that does not need any technical skills. However, low-code actually refers to less code. It is a solution that provides quick advantages to software developers, freeing them from redundant tasks and letting them focus on business logic.

Niche Micro-SaaS. According to Forbes, it is predicted that micro-SaaS will steadily grow. Overintricating and adding dozens of features and control buttons does not work anymore. People want focused and smaller niche products to do the job rather than having every aspect of their life or business optimized. It is not necessary for an SaaS to focus on a wide variety of niches and issues; it can singularly address specific and specialized ones. 

Employer Branding. A company’s employer brand is intended to attract the right talent to the organization and into the company’s HR programs and culture to retain current employees. Oftentimes, one of the biggest sources of hires for a company is its employee referrals. If the company’s current employees do not believe in its employer brand, why would they encourage their network to apply for a job at their company?

This is an opportunity that the SaaS industry can seep into, especially with the rising trend of remote work. These days, people advocate for greater flexibility, cutting commuting time, and a healthier work-life balance. Also, employers now recognize these claims and use them as leverage for providing more employee-friendly brands.

Extreme transparency through content. Launching a SaaS is a lot easier now compared to before. The no-code, low-code, and cloud platforms provide users with the opportunity to successfully implement their solution with minimal time requirements. The most challenging part, though, is yet on the user. Gathering people to know about the company’s product is hard and usually takes a lot more focus and dedication than building a product itself.

Establishing the company in public and sharing every step of the company’s journey can build trust and create the buzz that the company needs to gather customers, which is an opportune time for the SaaS industry. Having many tiers to this strategy can also increase the users’ sense of ownership and value.

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There are a lot of various formats the company can engage with when implementing this: articles, screenshots, screencasts, photos, tweets and threads, and many others. Find the ones that work well for the company, and be real.

Integration. With the rise of remote job opportunities, one thing stands out: the need for a better solution to keep track of all the data and content the company has on hand. It is often scattered in many different places, and getting to the bottom of it is tedious.

Hence, companies can offer a tool that enables the company to monitor all the data movements, track who is responsible for which document, and how to access it. These firms would no longer need to choose between one or the other. If it is a file-sharing tool, it can be designed to cover necessary functions—from sharing passwords to documents to entire folders, and determining what exactly has been changed by whom.

Conclusion

The aforementioned SaaS are here to stay. Though the world of software is continuously in flux, being informed of the scope of what is coming can cover the gaps in the company’s growth strategy. With industries adopting AI and having integrations level up, the opportunities for growth are unceasing. Hence, it is important to make guided decisions when pursuing SaaS.

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