The Top Markets for SaaS Businesses

If you do design work, collaborate on projects online with other professionals, or work in a medical setting, you’ve more than likely worked on a SaaS program. Software as a Service, or SaaS, has been on the market for years, but only recently has it really begun to be a viable option for businesses and individuals in all lines of work.

The Top Markets for SaaS Businesses

With SaaS, companies, small businesses, and even hobbyists, are able to host the programs they use every day on "the cloud”, which means that each patch, update, and upgrade is available right away without needing to install the newest version of anything. With most software moving toward cloud-based services, including file backups and emails, it’s easy for anyone to start using a program, and even easier for the companies who produce them to make a profit.

While many apps and programs can be made into a SaaS business, it’s a good idea to take a look at the trends happening on the market today, so if you’re looking at SaaS as a way to grow your client base, this list can help you understand if it’s time for your software to stand out, or blend in with the natives.

In this past year the top SaaS companies were Salesforce, Microsoft, Adobe, and SAP. Google, Oracle, and Workday weren’t far behind. Just glancing at this list will give you an idea of what users are looking for. Clients want an easier way to collaborate with coworkers, communicate with their customers, create digital designs, and help them manage their day to day operations in an easy to use interface. In general, customers just want to do what they have always done, just in a more streamlined and easier way.

Clients want an easier way to collaborate with coworkers, communicate with their customers, create digital designs, and help them manage their day to day operations in an easy to use interface.

One of the most requested features for SaaS providers is mobile application, so they can take everything with them. With the introduction of tablet computers, most notably the Microsoft Surface, this demand is not hard to understand. We’re living in an increasingly mobile world, and all software companies need to strive to keep up; so if the list of the top contenders has made you feel intimidated, don’t be, since you may offer something they can’t at the moment.

One of the most requested features for SaaS providers is mobile application.

The top markets for anything can change at any time, so make sure you’re keeping up with your customers needs in order to stay on top of the game. Here’s a list of the top markets in the world of SaaS right now:

1. Collaboration

Companies don’t just want to use email to ensure everyone gets the message. After all, how many times has someone mistakenly hit “reply all” to a single email, prompting everyone else to point out that they hit “reply all”? Far too often. Companies want a new way for their projects to get done in a more streamlined and collaborative way.

Microsoft introduced their own SaaS that integrates all of their programs, and while helpful and easy to implement, some users still feel it is lacking in many of the features they are looking for. Google offers both Docs and Sheets in their G Suite, with the added benefit of their version of video conferencing, known as “Hangouts”. While better collaboration tools are necessary in any workplace, having the right mix available for any businesses needs can be very difficult, so choosing a niche will give you a much better idea for what that specific industry needs.

2. Security

When was the last time you turned on the news and heard about a security breach, putting thousands, even millions of user’s information into the hands of hackers? It was probably within the last month, and more than likely you didn’t have to look very hard to find the story. These hacks make the evening news all the time, so it’s no wonder companies want a good security system to ensure their customers information, as well as their own, is safe.

Security is more than just finding ways that hackers can find their way in, it’s keeping ahead of the game so you always know what hackers can do. Having the best tech team is essential, and most security companies even hire their own hackers. This market will only continue to grow as companies demand better systems in place, especially medical and financial places of business.

Security is more than just finding ways that hackers can find their way in, it’s keeping ahead of the game so you always know what hackers can do.

Don’t just look at the large companies though, plenty of startups and small businesses, even local to you, will have concerns about their security systems, and may not know how to choose the one that is best for them. If you can not only protect, but also educate your clients, you’ll find your place in this SaaS market easily.

3. Human Resources

Think of your human resources office, and what they have to deal with on a regular basis. Since HR is vital to almost any company, even the smaller businesses, this is a great market to break into. With HR software companies can keep all of their information securely in one place, including employee files, training documents, mandated government information, and anything else their HR department is charged with.

Once you understand what a specific market is looking for, you can build an intuitive piece of software that can fit their needs, making your SaaS business the one they’ll want to use each and every day. Human Resource departments are essential, so keeping up with new regulations and helping these departments handle them will only make you stand out more.

This list is by no means extensive, and may change within only a few weeks, so it’s up to your company to see what your SaaS program can become, and who it will serve. With SaaS becoming a big player in the growing technology world, it won’t be difficult to find your niche and begin making your mark, as long as you create a product that can evolve with the ever-changing needs of your clients, both new and old.

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