4 Popular Product Trends in SaaS
SaaS platforms continue to expand their capabilities, with product developers leveraging the growing number of innovations in tech, to roll out new functionalities and improve their user experience.
Tech startups can create SaaS-based content with minimal technical skills thanks to 'white labelling,' 'no coding,' and 'low-code' platforms.
Low-code is a software development approach that enables developers to create complete applications with modern user interfaces, integrations, data, and logic much faster than traditional development applications with minimal hand coding.
Here are some examples:
A Robotic Process Automation (RPA) platform, enabling robots to learn new skills through AI and machine learning, automating millions of repetitive, mind-numbing tasks for businesses, governments and approximately 50% of the Fortune 500. They recently launched UiPath Apps, a web based low code application builder to build and share enterprise-grade custom applications that deliver engaging user experiences.
They’re recognised as the top company on Deloitte’s Technology Fast 500, and featured in CNBC Disruptor 50, whilst ranking 3rd on the 2019 Forbes Cloud 100.
A low-code platform for creating apps such as application modernisation, workplace innovation, business process automation, and customer experience transformation. They took the number one spot in the 2023 Forrester Wave Report and named a Leader in ISG Provider Lens™ 2022 report for Low-Code/No-Code Development Platforms.
ServiceNow App Engine:
The Appian Platform includes everything you need to design, automate, and optimise business processes to improve their workflows, unify data, and optimise operations, resulting in better growth and superior customer experiences. Named a Leader by Gartner for Enterprise Low-Code Application Platforms, and A Clear Leader in Nucleus Research’s 2020 Value Matrix for Low-Code Application Platforms.
Many SaaS companies face major challenges with the adoption of their tools, streamlining workflows, managing resources, optimising performance, and providing customers with the best ROI. Business intelligence (BI) capabilities enable SaaS providers to derive actionable insights, make smarter decisions, and optimise for maximum profitability.
White Labeled Analytics:
White-label analytics is the ability to embed reports, dashboards, data visualisations, and other analytics functionalities to perfectly match the UI elements (colours, fonts, themes, etc.) of your own SaaS application. White-label SaaS analytics will continue to grow in importance in the years to come.
Businesses, especially startups, enjoy white-labeled products as they allow organisations to gain market share quickly and with fewer logistical and financial costs.
Centralisation of analytics makes it possible for users to analyse data from a single point of truth, enabling them to uncover hidden insights. These insights completely change the way users make business decisions regardless of their team or role. Modern analytics solutions like performance dashboards that display the most vital business information, for example, are accessible to every team member at all times.
One of the most significant advantages AI brings to the table is hyper-personalisation, which will fulfil client needs in B2B, B2C, or DTC markets. But there's a lot more to it than that. Other use cases for AI in SaaS solutions include:
High-quality support services such as chatbots and other automated helpers can ease your workload and provide an edge over the competition.
Easy code review and maintenance. Since AI learns from user behaviour patterns, it can understand how to fix bugs without needing additional resources from developers or IT staff members.
Security breach identification. AI can use machine learning algorithms to detect and access abnormal activities within a network that may indicate a breach has occurred.
Natural Language Processing (NLP) and voice control simplify software. You can use this to improve customisation and client needs.
Big Micro SaaS:
Micro SaaS is usually viewed as a small scale SaaS business dealing with a specific niche or domain. And they’re typically tools, expansions or add-ons to larger products to improve the user experience with additional functionality. By leveraging automation and API’s, we’re seeing Micro SaaS companies grow their capabilities far beyond the traditional expectation. With examples in customer service & experience, document & content management, marketing & sales enablement. Here are some examples:
A platform that that can convert almost any webpage to PDF, thanks to their modern conversion API.
Anytrack connects marketing and sales channels to the targeted customers. A real-time platform, it allows integration with Shopify and Google Analytics by offering 100% data automation.
An open source analytics platform that provides a Google Analytics substitute that protects your business privacy. Plausible offers reports of the simplest summary of data thus omitting the need of a customised dashboard.
The most popular platform used to manage customer support tasks for organisations.
While many of these features have been available for years (the concept dates back almost four decades), recent technological advances have enabled us with better tools than ever before for implementing them successfully into SaaS solutions!