Software as a Service (SaaS) solutions are growing in popularity as businesses change to meet the new challenges from the last decade. Where companies previously focused on in-house development and technology solutions, they are increasingly leaning on SaaS companies to provide technology solutions. Likewise, SaaS companies are finding a stronger foothold in industries as they greatly improve businesses’ ability to satisfy customers.
Every year, trends in SaaS development push new boundaries of what they can offer and what companies can use them for. In this article, we discuss the most important SaaS trends to build your business around in 2021.
Artificial Intelligence is Personalizing SaaS Solutions
Artificial Intelligence (AI) is finding its way into nearly all of the new technologies and major enhancements. Integrating AI into new technologies unlocks machine learning (ML), the ability for machines to learn and adapt to changing conditions. SaaS solutions are increasingly including AI systems specifically to take advantage of machine learning to improve their value.
The ability to learn about system users is invaluable, especially from an eCommerce perspective. When a company learns about a user’s preferences and interests, it can serve that user content that is relevant to their current situation. For example, a potential customer that is looking for a lawnmower has a high interest in a lawnmower. The company that finds out that the customer wants an electric lawnmower with four hours or more of battery life can be the first to show that customer the closest option to what they want. It significantly increases the chances of the company securing the sale.
Moving forward, companies should take advantage of the adoption of AI to improve their customer experience. It should only serve the most relevant ads at the time so that it can maximize its conversion rate. While AI is a powerful tool, some customers do not like the fact that companies gather information about them. Use AI resources responsibly and ensure that all collected data is secured to maintain the confidence of your customer base.
Embracing Continuous Iteration
Continuous iteration is a concept where a company develops a product or service (usually digital products) and releases it to the public. Over time, it creates updates with new features, bug fixes, and other issues. Continuous iteration lets companies reach markets quickly while using feedback from customers and funds from previous sales to coordinate continued development. It is an effective way to get products out on the market and focus on making them closer to what customers want.
In SaaS trends, companies are embracing continuous iteration both from a development standpoint and a customer point of view. When companies adopt SaaS solutions, they expect to see updates over time and companies are investing in SaaS solutions as a means of future-proofing their technologies now. As new technologies are developed, SaaS developers integrate them into existing products using continuous iteration methodologies so that their customers have access to the best possible tools.
Going forward, companies that adopt SaaS solutions should try to keep them for an extended period of time. The longer companies can stay with a single SaaS solution that solves a specific problem, the better the solution will become at solving the problem. Given enough time, the company that develops and maintains that solution will be able to tailor it more toward its customers’ needs and make it the best possible solution for a given business problem.
New Forms of SaaS
SaaS solutions are involving a rapid pace and 2021 will see the widespread adoption of two new types of SaaS. Vertical SaaS is another possibility that is already having a big impact on how businesses develop their operations. Vertical SaaS focuses more on specific niches and targeting companies that meet specific qualifications rather than targeting entire markets. This is leading to the development of hyper-specialized services that can be made available using SaaS architecture.
Another option is Micro SaaS, which focuses more on creating smaller companies to supplement larger SaaS operations. Instead of developing a new platform, Micro SaaS companies focus on developing one or two features that fit into larger frameworks. With these two versions in development, they are expected to have a significant impact on how companies pull together SaaS trends to create their business infrastructure.
The implementation of SaaS solutions in business infrastructure forced SaaS companies to address security concerns above everything else. Nearly all SaaS solutions use a cloud-based infrastructure to deliver their services. Because of this, they are more vulnerable than other forms of conducting business. In response, SaaS companies are expected to develop strict and effective security measures so that companies do not have to worry about security when accessing their systems.
Going forward, the continued focus on security is expected to continue and increase in severity. As new threats become commonplace, SaaS companies will likely lead the way in developing security systems for cloud-based infrastructure that is applicable to every business.
Partnerships with Leading SaaS Companies
At KitelyTech, we continue to work with companies around the world to develop new SaaS-based businesses and architectures. The development and implementation of these systems continue to change how people do business for the better. Your company or startup could benefit from a partnership with an agency like KitelyTech That has the resources and experience to properly leverage SaaS solutions. Call us at (312) 254-8248 to discuss how we can help you leverage SaaS solutions in the coming year to grow your business.