‘’ By 2021, the global SaaS workload is poised to reach 380 million.’’

And if you are sitting confused or unaware of what this terminology means, you are living in the past.

The Saas industry is booming, in fact, every other company you see is a Saas based company. ‘’There are over 10000 private SaaS companies.’’

The world of Saas is expanding and soon your brand too will start to indulge in it but why do you have to wait for it?

If you are planning to get started with such business or want to invest in such a market, the important factor here is, you need to know everything about it.

Luckily for you, we have conducted all the research and as you reach the end of the article, you will be powered to consider Saas solutions and that is a guarantee.

Let’s get started.

Table of Contents:

What is ‘Saas’?

Saas stands for software as a service. It requires no hardware to get started. As a user, all you need to do is sign up for a Saas solution and get started with a good internet connection. Saas products are online-based and match the requirements needed for you to conduct any of your online activities.

Our brand Purplerain is the perfect example of a Saas based business. We offer essential services to our clients which can help enhance their work such as a callback software and an efficient email marketing software. All our users need to do is sign up for it and get started. With the software, they can keep a track of their actions and continue to perform better with the statistics mentioned in the softwares.

To get a better understanding, you can reach out to us here.

Isn’t it easy?

This is exactly what the world of Saas is doing. It is creating solutions that are easy and helpful for users across the globe without having to worry about heavy installation or extra efforts. A good internet connection is all you need to get started. 

Interesting Read :
How to scale from 0 to 100 customers in Saas?

The Saas industry will continue to grow rapidly. 

The next category will give you multiple reasons to trust in it.

Benefits of a Saas investment 

1. Flexible payment option

In Saas, the payments are conducted on a monthly basis and the best thing is clients are fully aware of what they are receiving with the payments. 

For instance, at Purplerain, as stated earlier, we offer a callback software solution called Limecall. The pricing page looks like this:

As you can see for each pack, the clients will be aware of how much calls they can make and what benefits they are receiving, and accordingly, they can cater to their needs. They have a monthly or annually based payment structure so that they can learn and understand how the product is benefiting them. 

If they wish to upgrade further, they can do the same. No hassle for extra payments done.

2. Offers higher scalability usage

Another great reason to love Saas is that it gives clients the option to surf and invest in what they like. If you want to start with a few services, you can, if you want to try a feature with a demo, you can. Saas increases scalability and gives clients the option to conduct actions in their ways to get started with the product.

Interesting Read :
The Ultimate Guide for PQLs in SaaS

This is a great way to sell to prospects as with the efficiency of your product, chances are closing deals can take place better.

3. Conducts automatic updates

When you have to update the apps on your phone, do you purchase a new application? No right, the same way with Saas updates are conducted automatically and your features are enhanced the same way. This is so easy because, in the Saas business, frequent updates take place to enhance the value of the product being offered to you.

So, you are basically using one product which is getting refined and tuned in a better manner each time you use it. 

Imagine how well your efficiency and results will be impacted?

4. Easy accessibility

As stated earlier, you don’t need any installations or equipment to get started. All you require is a good internet connection. So your clients could access your Saas solutions by just signing up and getting started. The process is simple, any queries to be resolved or any payments or upgrades can be conducted on your internet connection. 

5. Suits different types of businesses

You could be a small or medium-sized business or even big, the Saas solutions or starting a Saas business can be really easy and convenient. The monthly based payments and easy steps make it a hassle-free process for the business owner and the clients as well. 

Interesting Read :
How important is the Customer Acquisition Cost (CAC) metric for any Saas company

For instance, you could be a small business and want to invest in a Saas solution, let’s say email marketing software to conduct efficient email marketing activities. With the monthly or annual packages, you can easily choose your budget and get started.

6. Easy to get started

To get started with any Saas business or want to invest in a Saas solution there are two things which matter here, an internet connection that has been stated earlier and a sign-up option that can help you keep a track of your work which only the authorized person will have access.

7. Can conduct customization

With Saas solutions, you can easily customize the solutions according to your business needs. This makes you conduct your workflows better and according to how you are expecting it to be done. You can conduct your customization process accordingly without having to risk your common infrastructure.

8. Showcases a multitenant architecture 

Any of the users or applications activities are conducted under one frame. There is a common infrastructure and code which again is found in that one frame. This is great because everything you need to do is conducted in one place instead of having too many frames to look at. Since everyone is in one frame, it becomes easier to conduct multiple innovations and enhance the experience of every user.

Now that you are aware of what Saas is and the reason which makes it the finest investment to make in 2020, it’s time to add more value to your thoughts by giving you an up-close information about what the experts have to say on this industry.

Experts opinion on the Saas growth

Source: Fusebill

“SaaS brings new approaches to the traditional business model. It is the future methodology that introduces better approaches to customer acquisition, user onboarding and customer satisfaction.” – Leo Lax, Executive Managing Director, L-SPARK 

The future of SaaS will be defined by doing more with less. Today, technology is proactive but tomorrow technology will be predictive. Interestingly, 90% of all data has been generated in the past two years. I like to think about artificial intelligence and machine learning, not as a product, but as electricity that will power future tech.”– Chris Makkreel, Head of Technology, Salesforce

We are seeing more and more SaaS business models replacing traditional business models. This subscription-based service delivery model is expected to stabilize the market in the long-term. Uber is an example of how a subscription-based service has disrupted a traditional business model as it provides an alternative to taxi services.  We are also seeing financial technology companies disrupting the traditional banking model.Another change is that on premise software will move to cloud which will benefit the world with more agile and flexible software solutions.”– Michael Gregoris, Digital Marketing Manager, Roadmunk

“In the future, the direction of SaaS will largely depend on buyer and consumer choice.  Businesses are taking note of buyer behaviour and switching to subscription-based business models.From a company perspective, the goal is to provide many different applications to satisfy consumer needs and buying behaviors.The future will also depend on creating an ecosystem that will allow businesses to integrate into a partnership-driven community.The integrator will be the winner.”– Grant Goodwin, President, AllRoads

“The future of SaaS is about the ability to strategically integrate with others and to create meaningful partnerships. Interconnectability is key to being successful.  This is a real challenge and a great opportunity at the same time.It is also an opportunity for smaller, more agile companies to compete with the big guys – addressing a single challenge with one solution rather than being everything to everyone.”– Greg Evans, VP Strategic Partnership, PageCloud

“The timing for SaaS is absolutely right and we will see a lot of amazing things happening in the coming years. In future, we will see a big transition towards simplicity. The importance of seamless integration, overall speed and agility of deployment will be the defining differentiators for industry winners.”– Richard D. McBee, President and CEO, Mitel

“SaaS is still an early stage marketplace. Only 35% of businesses in North America offer their products and services via a subscription – recurring revenue model.In the future, companies will incorporate artificial intelligence and machine learning within their products.  This coupled with cloud agility and open API will define the market winners.The future of SaaS will dramatically change how we do business.  We are seeing buyer behaviors change as the subscription economy is slowly replacing the traditional business model. Buyers are choosing subscription services over outright purchases.” – Tyler Eyamie, CEO, Fusebill

“SaaS provides an opportunity to re-think how an existing business operates and more importantly it allows companies to scale very quickly. SaaS enables offshore companies to get into the game at a lower cost.The trend is that SaaS businesses are adding more products to their portfolio to accelerate monetization. We are also seeing a shift  in pricing. Compared to the traditional pricing where companies charge per unit, SaaS pricing will a offer pay-per-use model, which will be more appealing and accessible to consumers.” – Andriy Azarov, CEO, Nectar Desk

“In the past, tech companies were hardware-centric, building the “whole package” themselves. Hardware products would represent a version which would need to be replaced in the future eg. from 1.0 to 2.0 to 3.0.With the revolution of SaaS, the tech approach is shifting. Software versions get updated automatically over the cloud providing increased value to customers with no complicated installation or onboarding practices.”Christopher Beaudoin, General Manager, SMB, SoLink

The article would be incomplete if a view of the futuristic Saas world isn’t seen by you. While the experts have shared their inputs about Saas and its future, let’s take a look at what you can expect from its future.

What the ‘Future’ of Saas look like?

1. Increasing thought leadership via blogs

Blogs will not be created just for the purpose of selling, there are going to be more blogs that will help clients understand what the product is about, its purpose, and the industry information. Not many brands focus on blog content but that will change soon. The more thought leadership article is created the better are your chances to draw your clients towards approaching your brand for information on getting started. 

2. Growth of more Saas companies

You have all the answers needed to understand well how the Saas world is growing and what is expected for it. It is not wrong to say that we can see more growth of such businesses high in numbers. There are going to be a variety of Saas solutions and brands which you can look forward to.

Interesting Read :
The Ultimate Guide to Product Led Growth

3. Flexibility in pricing

As you have read above, Saas solutions will cater to multiple different types of businesses such as small, medium, and even large. Hence when it can cater to different kinds of them, it would be understandable that the pricing options are going to be flexible. Saas businesses will be able to manage their revenue better with such pricing options because it will be decided on the basis of catering and meeting every prospect’s needs.

4. Suit mobile devices

‘’The corporate mobile market within SaaS is expected to be worth $7.4 billion by 2021.’’

If a client can’t access your service via mobile service, they will not continue further with it. This is obvious and it is necessary which is why we will see more new Saas solutions coming up with this. So basically we can see more services being accessed via your smartphone no matter the location. 

All that would be needed is again an internet connection and your account credentials.

5. Better branding actions

The branding activities will change and it will change because now creative branding will be showcased. The agenda here is to let clients know what the product is all about and how it can help them better.  

The Bottom Line…

What is your take on the Saas growth? Did you find it interesting to understand that this is the next big industry that is going to boom quicker?

Key Takeaways:

  • Meaning of Saas
  • Advantages of Saas business
  • Experts opinion on the Saas industry
  • What the future of Saas looks like?

If you would like to learn more about how Saas works and want to invest in a Saas solution, you can reach out to us here.

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Neha Shelar