Software Engineering September 24, 2019

How Will Future Business Performance Be Influenced by Current SaaS Trends?

Written by Analytix Editorial Team Jagruti Patel

Small and mid-sized businesses usually don’t have access to good information and work only on instincts. In contrast, large companies employ sophisticated teams that focus on using data to be more efficient. Fortunately, Software-as-a-Service (SaaS) technology has lowered the barriers to powerful features previously available only to larger corporations with extensive technology budgets.

Today, companies use an average of 99 SaaS apps to run their business every day. In 2019, 64% of small and mid-sized businesses will commit to cloud-based technology as a means to boost workflow productivity.

The biggest increase in IT spending in 2019 has been in cloud computing strategies. According to Gartner, more than a third of organizations see cloud investments as a top-three investing priority. Using current SaaS trends and customized solutions can enable quick and easy access to better information, thus giving you an advantage in making sound business decisions.

Here are the top three SaaS trends that will affect your business performance:

1. Artificial Intelligence and Machine Learning

The influx of AI ensures that SaaS products will become smarter, incorporating the ability to analyze an array of real data, offering tailored solutions, and including several other advantages to users and SMBs. Supplementing AI technology will be the emerging trend of Machine Learning-as-a-Service (MLaaS) helps SMBs that typically lack the IT infrastructure to store and manage data with faster and previously obscure insights, leading to better and faster decision making.

2. Vertical Growth of SaaS

Rather than offering a one-size-fits-all solution, more companies are now entering vertical SaaS. It allows you to focus on offering vertical-specific complex SaaS app solutions for target niches. This helps you achieve useful insights for key business decisions and assists in placing a stronger emphasis on building your product. It can even create new service offerings. As a result, you can maximize conversions, increase sales, and grow your business to gain an upper hand in the market.

3. Growing Need for API Integrations

With Software-as-a-Service (SaaS) companies offering their services as an API with a range of tools instead of a fully packaged solution, you can tailor SaaS services to meet your particular demands. This allows you to create a UX based on your particular needs.

As a small to Mid-Sized (SMB) owner, you realize that speed is a weapon. Therefore, you need to tap innovative SaaS technology and customized solutions that offer up-to-date information in real-time, giving you an advantage in making better business decisions.

Have you adopted SaaS? If not, what hurdles do you face? Our experts at Analytix have the answers to your problems. With our rich SaaS development expertise, we encompass the entire gamut of architectural and functional building blocks required to deliver successful solutions.

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