Investing in SaaS development services can be the best decision of your life. For one, this is the most cost-efficient way to launch an application these days. Second, SaaS platforms are flexible and can be adapted to multiple industries. It means that the customer pool for your product can be all but endless.

Sounds interesting?

Keep reading to learn how SaaS software development can help achieve your business goals. And get inspired with ideas for your own product.

What Are SaaS Development Services and Who Needs Them?

SaaS software development has become extremely popular nowadays because it allows people to use great solutions regardless of their hardware power. SaaS is not some specific type of software in itself but a method of delivering apps to the user. The solution is hosted by the product owner or on the SaaS application development company’s servers. Therefore, the user doesn’t have to download and install anything on their own computer.

The user might need to install a client app to access the SaaS product from their PC or smartphone in some cases. However, these solutions are relatively simple and don’t have high hardware requirements.

The majority of SaaS applications can be accessed using a regular web browser. That’s why it’s often referred to as SaaS web development.

Because there are usually no hardware or software requirements for SaaS products everyone can use them. Therefore, SaaS development services are in demand for every type of software. So it doesn’t matter what your target industry is, developing a SaaS product is always a good idea.

In fact, you should research your niche and see what your competitors do. If they aren’t offering this type of service, you are already ahead by choosing it.

But remember, SaaS is a subscription service. So you’ll need to work on product improvements and marketing continuously. Your goal will be to retain the loyalty of your customers. For this, you’ll need to compete against newer and more innovative apps.

That said, SaaS application development can be extremely rewarding. But it’s also a continuous challenge that will require you to keep getting better.

Benefits of Using SaaS Development Services

The benefits of hiring a SaaS development company to bring your ideas to life are many. The most notable of them is that it’s sure to be lucrative because SaaS products have advantages that customers love. Better yet, these same advantages will benefit you as well as the users of your product.

The most important of them are:

SaaS development services are highly cost-efficient, and the product is affordable for the end-user. For you as a SaaS owner, the product will cost less compared to developing a top-grade solution that must be perfect and fully stacked at launch. In addition, SaaS software development is highly flexible. Therefore, you can launch a product with only a few essential features that you can afford now. Then, you’ll keep adding more and improving it as your revenue grows. Perhaps, you might even be able to develop a series of related products, like multiple Google Apps Services.
SaaS web development is faster. For you, it’s because developing a smaller product takes less time than creating a large multi-functional downloadable solution. For the user, SaaS products are great because they are quick to set up. In the majority of cases, one can start using this solution within a few minutes as there are no mandatory downloads or other time (and bandwidth) consuming tasks. However, do not forget that you must make the signup process as simple as possible. Otherwise, you risk losing users before they even try your product.
SaaS software development produces a highly accessible product. Of course, as a product owner, you will love this because your consumer base will be huge. But, on the other hand, users enjoy this particular perk because it enables them to access top-grade solutions regardless of how good their hardware is.

Business Perks of SaaS Development Services: Why Your App Can Bring Money

When building a successful business is your primary goal, a SaaS development company can become your greatest ally because:

SaaS products generate a regular stream of revenue.
That’s the primary and most important advantage of the SaaS business model. Subscriptions bring you revenue monthly. And if you roll out improvements regularly, this stream of income will keep growing.
SaaS application development allows you to create a secure product. It’ll be a major selling point for consumers today. For you as a business owner, ensuring the highest possible security level is a top priority. Remember that the year 2021 saw the cost of data breaches reach a shocking $4.24 million! This number is sure to keep rising with every passing year. So, invest in security improvements all the time. The fact that SaaS web development allows for constant improvement is another significant advantage. Due to this, you’ll be able to update cybersecurity features as soon as new threats pop up.
Flexible subscription plans make SaaS apps even more accessible. Therefore, you can reach a wider audience with the solution. Moreover, you can expand your customer base greatly by offering a free subscription. At this point, your app can generate revenue through advertisements.
Using the services of an experienced SaaS development company and good hosting will make your app very reliable. Obviously, the consumers will love this, thus increasing your number of subscriptions. However, the main advantage for you is that you won’t lose users in droves because of some basic bug or server failure. But note that you need to make sure the servers that host your app are distributed across the globe. This way, even if some server crashes, the solution won’t go down completely.

SaaS Software Development: Types of Apps

SaaS development services are flexible and versatile. Therefore, the apps created with them can be used for a variety of industries. If you are looking for inspiration for your product, the most popular applications of the SaaS model are:

eCommerce SaaS Application Development

SaaS development services for eCommerce are among the most complex and most popular. Essentially, eCommerce SaaS are solutions like Shopify, BigCommerce, and other top eCommerce platforms. These platforms enable the user to create and sometimes even host their own online store. As the online shopping niche is highly demanding, a platform like this will require a lot of features. Absolute must-haves are shipping and delivery tracking, payment processing, SEO, CRM, warehouse management, product management, and order processing.

If you consider eCommerce SaaS application development, be aware that it will require a significant investment. This niche is extremely competitive, and its leaders are giants that are nearly impossible to get close to.

Vertical SaaS Software Development

Vertical SaaS application development is a more promising niche for beginners. First, with this type of app, you’ll need to choose a niche. Then, create a product that will help improve business processes within it.

Such solutions are diverse, but all of them are focused on optimization. In this case, developing a highly specialized solution will be a benefit. It will enable you to offer the best possible result to the customer. Therefore, it makes sense to create a subscription plan that offers top-grade customization. Essentially, it means your SaaS development company will need to personalize the product to fit the needs of every customer.

CRM SaaS Applications

One of the top examples of a SaaS Customer Relationship Management system is HubSpot. This type of solution needs to integrate with a variety of systems in order to fit into business processes effectively.

If you want to apply your talents in SaaS development services to this niche, you’ll need to create a solution that automates marketing tasks. Note that CRM systems are an integral part of the sales process as well. Ultimately, the goal of this SaaS platform is to facilitate the business’ relationship with customers.

Nowadays, personalization is one of the main requirements by consumers in any industry. Therefore, advanced CRM systems that allow for detailed segmentation and targeting are in high demand.

Enterprise SaaS Development Services (ERP)

Enterprise SaaS software development is extremely versatile. It’s because enterprise requirements are enormous, and these companies often need unique custom-tailored products. For example, many big companies use SaaS development services to create ERP (Enterprise Resource Planning) software, like Oracle.

In order to be useful to such big customers, enterprise SaaS platforms need to have tremendous processing power. They also have to integrate easily with other popular management systems.

SaaS products for Collaboration

In the era of remote work and digital nomads, collaboration software is a highly lucrative niche. These SaaS platforms vary in functionality, for example, Asana and Miro. Such platforms aim to provide remote teams a space to connect, share, and track the progress of various tasks. Some of them will also have integrated messenger systems and video conferencing tools.

This niche is growing fast. However, it’s still a fantastic opportunity for your SaaS development services because the demand grows even faster. But to make a solution with a chance at success as collaborative SaaS, you have to do detailed market research. Find out what exactly is lacking in the most popular tools to create your unique selling proposition.

Project Management SaaS Solutions

Project management platforms are, in essence, a more ‘formal’ variation of collaborative SaaS software. Tools like Jira are essential for businesses today as they maximize the efficiency of remote teams.

Note that these tools can also be adapted for unique enterprise needs. Therefore, you have a lot of room for creativity with this type of SaaS web development.

SaaS Software Development for Billing

SaaS billing solutions are extremely popular with small and medium businesses. Tools like Zoho help these companies do their bookkeeping without hiring in-house accountants.

These tools are also highly useful for eCommerce. So, there are a lot of areas for you to target with such products. But bear in mind that this SaaS must be extremely secure and efficient as well as comply with legal requirements.

SaaS Development Services for Data Analytics

Some SaaS platforms take a completely different look at business optimization. For example, AI-based software like Marquètte can be used for data analytics. This platform processes vast blocks of data to provide a forecast or analysis of specific industries.

Companies can use this type of SaaS platform to predict trends and adjust their business and marketing plans. Big Data analytics is costly if you hire a specialized company for it. However, AI can make this service much more affordable. Therefore, such a platform enables small businesses to use the power of Big Data.

SaaS Application Development Process Explained

Market Analysis

The first thing to do before finalizing your app idea is to analyze the market. You have to determine two things:

What apps already exist in the niche (your competition)?
What are the features your target audience is most interested in?

Only armed with these answers can you come up with a concept that will have a chance to succeed. Your objective is to develop a unique selling proposition that will make you stand out from the competition. Moreover, you will get the ability to understand what it is that can offer value to your prospective customers.

Determine SaaS Requirements

This is more of an analysis step as well. The requirements you need to consider are consumer demands such as usability, UI/UX design, and security.

During this step, you’ve got to understand how to use SaaS development services to adapt to the ever-changing demands. You need to plan your platform to be flexible. Therefore, you must outline priority directions in which it will need to evolve.

Define the MVP

MVP, or a minimal viable product, is the core of your future SaaS solution. This is what you’ll take to developers or show investors. You need to define it in order to calculate the costs of SaaS development services.

To define your MVP, you have to answer questions like:

Who are your target customers?
What is their main problem that you are going to solve?
How are you going to solve this problem?
Can you offer several solutions?

Set the Pricing Model

SaaS software development relies on the subscription payment model. Therefore, you need to decide how exactly you are going to charge your customers for the use of the platform.

The most popular subscription payment plans are:

Flat rate: when you charge a set price for the product or sets of features.
Pay per feature.
Usage-based plan: when the user pays based on the time/amount of using the platform.
Freemium: when the user has a free basic subscription but pays for a broader set of premium features.
Pay per active user: when any active user pays a set amount.

Set Technical Requirements

At this stage, you have to consult a SaaS development company to outline the product’s technical requirements. But remember to keep in mind your target audience. Do your research to understand what devices they use most often.

Your platform’s technical requirements must aim to fit the most basic devices used by the consumers. It’ll ensure maximum accessibility.

Finalize the Budget

Now that you understand what it is that you need to make, you must finalize your budget. Then, evaluate your available funds and either start development or keep looking for investors.

As an option, consider investing in minimal SaaS development services. But build a business plan that will allow you to reinvest a large portion of revenue into further product development.

Also, consider that your budget must not only be limited to development costs. You also need to market your app. In addition, you need to set aside an emergency fund to deal with any possible issues or bugs.

Start Working with the Development Team

Finally, you’ve got to hire a trustworthy SaaS development company. It’s essential to find a team that has experience creating the type of SaaS products you want to make. Moreover, choose a company that has relevant certifications. Finally, you need to be sure that these people are experts in what they do.

However, personalities also matter when choosing a SaaS application development company. You should look for people you are comfortable with to discuss ideas and share your vision. Also, they must show a high level of professionalism and organization. That way, you can be sure that they will indeed be able to deliver top-quality results.

Lastly, look for a SaaS development company that employs multiple professionals with different specializations. You need to be sure that these people will be able to handle everything ‘in-house’. It’s crucial to avoid dispersing your product development across several contractors. Having everything done by one team will increase the quality of the final product.

SaaS development services providers vary greatly. Therefore, you’ve got to take your time and explore your options. Make sure that you are hiring a team you can trust completely.

In Conclusion: Is Hiring a SaaS Development Company Right for You?

Now is the time to invest in SaaS development services if you have a great app idea. In case you don’t have one yet, check out this post for inspiration.

The demand for high-quality software that helps automate and optimize various processes is huge now. Therefore, if you have an opportunity, you should consider entering this industry. SaaS software development, in particular, is a good business model due to its cost-efficiency and relatively low entry capital requirements.

If you have any questions regarding SaaS, creating your own product, or how much it will cost, contact us anytime! Devtorium offers SaaS development consulting services to all businesses and private entrepreneurs with ambitious ideas.

Advanced robots, self-driving cars, automated delivery bots, Internet of Things, and all the other cool and sexy tech we have today all run on some kind of an AI-powered platform. But those platforms only exist because of data. Data analytics is at the heart of AI, business, and the world as a whole today. So, if you want to get ahead, you must wield its immense power for making business decisions. However, the human brain cannot compute such enormous blocks of information. So, you’ll need to use a SaaS analytics platform to do it for you.

How to Use an AI-Powered Platform to Improve Your Decision Making

The best thing about Big Data is that it holds the answers to all your questions. Actually, it can even predict the future if used right. And that means ‘if it’s processed by an AI-powered platform geared toward predictive analysis.’

No business today can survive without data analytics. It’s because you literally can’t make decisions without the insights derived from data. You might only rely on your monthly business reports or go for a broader scope including global economic reports. But the point is that you have to make decisions based on something more concrete than your intuition. It means understanding what types of data analytics exist. And more importantly, how to use them at different stages of decision making.

Types of Data Analytics Performed by an AI-Powered Platform

Descriptive

Descriptive data analytics provides you with answers to the question “What happened?” In essence, you can use this data to understand how your business is doing. Then, depending on how deeply you analyze various processes, you can decide which areas to focus on.

There is no doubt that these insights from a basic AI-powered platform are extremely beneficial. They are especially handy when you need to identify areas where you can cut costs.

That said, descriptive analytics insights are somewhat limited. They only give you information about your past business performance and don’t consider any outside factors affecting it.

Diagnostic

Diagnostic data analytics is used to understand why something happened. Performing this analysis is the logical next step after collecting descriptive data insights. At this point, the AI-powered platform can delve deeper and understand why some of your business decisions failed or succeeded.

Bear in mind that diagnostic analytics will require a wider scope of data than your internal business reports. Also, it will be, at least somewhat, based on conjecture. It’s hardly possible to account for all potential factors that affect any business outcome. Therefore, you’ll have to accept that while highly valuable, these insights are also not absolute.

Predictive

Predictive analytics is far more advanced and requires the implementation of an AI-powered platform. Machine learning, in particular, is the basis of any successful predictive analytics. Insights derived from it allow you to see what is likely to happen shortly. Therefore, you can use them to make decisions that might propel your business forward.

This kind of prediction for future trends is most valuable for businesses that want to grow. However, any forecasts cannot be 100% accurate. There are just too many factors that are beyond your control that affect the outcome. Many of these factors are macroeconomic and volatile.

Bearing that in mind, you should use predictive analytics to develop a proactive approach to business. It can help you plan, especially for the situations that might affect you in the future. Thereby they help your business prepare for potential challenges.

Prescriptive

Prescriptive data analytics is the most advanced type, and it can provide the most valuable insights. At this state, an AI-powered platform will aim to give you guidance on what actions you can take. To get the most value from these insights, you need to have specific questions in mind. Then, analyzing your goals and data will enable the AI to determine the actions necessary to achieve your desired results. These insights are primarily based on the data obtained from predictive, descriptive, and diagnostic analyses.

However, prescriptive analytics will also use technology like simulation analysis to discover solutions to potential or current problems. Of course, these solutions are subject to the same limitations as any predictive analysis. But they are highly valuable as they enable you to reduce risks that are inherent to any business.

Implementing Insights Delivered by an AI-Powered Platform

Studying a real-life example is the best way to understand how an AI-powered platform can benefit your business. Marquètte is a piece of SaaS data analytics software developed by Devtorium and powered by proprietary AI tech. It uses a combination of data analytics methods and technology to conduct a SWOT and PESTEL analysis of any field.

On the user side, this looks like you are conducting a simple internet search. However, in reality, AI goes through huge blocks of data in order to find concrete answers to your questions. So, when it’s done its job, you get a summary that answers your question in detail and includes actionable insights. Then, as a business owner, you can put those into action right away. Thus, you ensure your company derives maximum benefit from the information.

Businesses can use the insights provided by Marquètte to:

Revamp your brand design for increased impact
Find new areas for your business to expand in
Predict challenges your company needs to prepare for
Adjust your marketing strategy for maximum efficiency
Answer any industry and niche-specific questions you have
Forecast business development when planning for the future

As you can see, an AI-powered platform is an invaluable ally for any business. So, the only question is whether you want to use an existing solution, like Marquètte, or to have custom SaaS data analytics software developed for you.

Tag: business tips

SaaS Development Services: How to Build a SaaS Product