Software as a service, or SaaS, is a software distribution model that helps organizations be more agile and cost-effective. It’s a viable choice for companies that want the versatility and accessibility of data analysis tools without managing expensive and resource-intensive datacenters.
According to a study by the IDC, SaaS has already gained a major share of the cloud computing market, and is set to account for nearly 60% of all public cloud spending by 2020. Moreover, the SaaS industry is currently worth $116 billion, and is expected to surpass $130 billion by 2020, according to Statista.
With rapidly changing customer expectations, businesses need to keep an eye out for what industry leaders are doing and be open to adapting to changing trends.
In this blog, ISC’s team of Software Recruiters will look at the top SaaS trends for 2019.
The development of Artificial Intelligence (AI) technologies is impacting nearly every facet of human society. These autonomous, self-learning systems are expected to contribute $15.7 trillion to the global economy by 2030, according to a report published by PWC.
Implementing AI systems leads to increased business efficiency and productivity, optimized business processes, improved human decision making, and the automation of repetitive tasks.
For many businesses, AI and Machine Learning allow for increased responsiveness and efficiency between businesses, technologies, and customers.
When combined with AI, SaaS makes it possible for businesses to improve security, supplement human capacity, improve decision making, and personalize and automate services.
Let’s take security and personalization as examples and see how AI improves upon these crucial functions:
SaaS to PaaS
Businesses that seek to shift their focus from customer attraction to customer retention should consider choosing PaaS or Platform as a Service, as a viable solution. Utilizing PaaS enables companies to quickly deploy code and add new applications, a process which normally requires a couple of months to complete. It also allows SaaS companies to increase their responsiveness to customers and opens the door for development opportunities.
Multiple Payment Models
Traditionally, most SaaS businesses have relied on monthly or annual subscription models. However, newer businesses with one-off products require additional transactional payment methods.
Also, only providing a pay-per-use (PPU) model to upstart SaaS companies that already face problems with cash flow increases their problems. Instead, offering subscription models as well as PPU can help cater to a larger customer base and allow for flexibility in payment options.
The SaaS industry is showing no signs of slowing down and the emergence of blockchain and AI are expected to create additional and more lucrative opportunities for businesses, as well as increased hiring needs for candidates with SaaS experience.
Since 1999, International Search Consultants team of software recruiters have provided companies across the United States the very best candidates to enable them to capitalize on the growing potential of SaaS. Contact ISC today to strategize on your ideal candidate profile, and start a strong pool of qualified candidates to be delivered to your interview table.