Are you looking to launch a SaaS solution in the highly demanded, non-too-competitive niche? Let us help you with the top SaaS ideas for business in 2021 and some pro tips on introducing your product to the market. SaaS is a business model where a software solution is provided online based on a paid subscription. The solution is stored in the cloud, which makes it accessible for users and cost-efficient for owners. Companies tend to turn to this product distribution model seeking efficient ways to stay competitive, accelerate business processes through automation, and prevent cyberattacks. Our developers share their knowledge on how to launch a SaaS product and what risks should be considered. But let’s start from the beginning.
The Advantages of SaaS Business for Clients
Why should you consider a SaaS format for your project in the first place?
- Flexible payment model. By subscribing to a SaaS offering, the customer pays for the service monthly via the subscription model. This provides predictable budgeting for companies. The user can unsubscribe from SaaS services at any time.
- No need to install the software. SaaS applications can be accessed and used through any web browser, with only certain services requiring the installation of plugins or special extensions.
- High availability. Cloud storage provides access to the application from any computer or mobile device connected to the Internet. And the loaded data never disappears when the user’s device fails.
- Automatic updates. The SaaS provider automatically updates the application and fixes issues. This reduces the burden on IT professionals in the client’s staff.
Various SaaS projects are now operating in more than 100 countries. From 2015 to 2017, the number of SaaS applications used by global companies increased from 8 to 16. Currently, the annual growth rate of the SaaS market is 18% – and it continues to grow.
Risks of SaaS Business Models
Although the SaaS business has a lot of advantages, it also has risks that you should know about and take into consideration. Among the risks are:
- Pricing. On the one hand, it concerns the client-side as they risk their money by choosing a subscription that could take some time to be canceled. On the other hand, business owners also need to invest in convincing the users to continue utilizing the tool as even a little technical problem can force the users to cancel their plans.
- Elevated risks. In case the server occurs any technical problems or a security attack, all active users of the platform will be compromised. That’s why the cost of a mistake is extremely high.
- Security. SaaS providers should remember that there must be found an effective way to protect the data of the clients while ensuring flexible remote access to the service from any device;
- Building trust. The long-term reliability of the provider should be proven particularly if the company takes part in crucial business processes. Business owners need to ensure that the vendor they trust won’t close, leaving their interests behind.
How to Come Up with New SaaS Ideas
When you are determined to launch a startup the initial step towards it is to have wonderful and feasible SaaS ideas. The primary way to find an idea is to discover the defective systems and issues in your surroundings and the world. Wherever there is an issue, there is a chance to find new solutions.
Below we will list some pointers to help you in searching for great SaaS ideas:
Markets that are evolving
Almost all societies have a prevalent trend of becoming online. Nevertheless, there are certain markets that due to different reasons such as money challenges or limited knowledge remain overboard. The search can be started from these outdated markets. Thus you will be able to find suitable saas product ideas to launch a business evolving their market.
Find Your Expertise
People often start with ideas of SaaS startups in the area they are good at. An example of this is Bill Gates who was a technical specialist before he began the implementation of his ideas in his niche that made him succeed. You also have a great chance to turn it into a business the things that you are good at.
You may ask your friends and family to take into consideration their opinion in this aspect. Perhaps, they can help you in looking for a good idea.
You will find numerous great SaaS ideas searching through the Internet. Just like this article that you are reading as it is a product of the Internet. So, keep reading to know about the best SaaS ideas in 2021 you can go with.
9 Unique Service Business Ideas
You can launch a SaaS startup for almost any existing industry from accounting to social media marketing. Pro tip – based on the example of the top SaaS service providers, a truly successful product helps fix the lack of the necessary service or software solution on the market. Think like the greats: IKEA came into being because, at the time of the company’s inception, only Swedes with above-average salaries could afford to furnish a house. Today, the other BILLY cabinet is sold every 10 seconds, and the editions of Swedish furniture catalogs published since the early 1950s have long since bypassed the Bible in the print run. The Adidas sports brand became renowned at a time when traditional shoe factories didn’t consider the “sport” category as a possible niche for growth. The company released studded football boots, which have become very popular among athletes. What exactly can you create? Try picking something from the following software business ideas.
One of the most demanded SaaS examples is a Customer Relationship Management or CRM system. Such solutions allow managing customer profiles and providing a personalized experience. A CRM collects customer information and tracks interactions through various channels, such as websites, feedback logs, social networks, and so on. CRM with embedded AI automatically modifies communication based on the collected data and experience of interaction with the company’s communication channels.
Collaboration or communication solution
SaaS services in this niche range from file sharing and messaging to multifunctional project management tools. For example, Slack is suitable for group and private correspondence and video or audio calls. Google Drive is used for file sharing. You can develop a collaboration solution, too. To make it authentic, integrate it with your website or some other useful third-party services.
Remote healthcare is an especially relevant field right now, in the conditions of a global pandemic. By 2026, the market for remote healthcare solutions should grow over $180 billion in total revenue. So introducing a telemedicine SaaS, you will certainly hit the profitable spot and tackle some good demand. You can create something to provide convenient communication and remote interaction between patients and doctors. In particular, you can consider implementing an e-counseling platform that would help users find doctors and healthcare service providers in the vicinity, remotely book appointments, and connect with medical specialists for consultations and discussions (something like the renowned BetterHelp). Or build a platform dedicated exclusively to video conferences, providing an opportunity to go live with available doctors right away.
Remote workflow management software
Profiting off of highly-demanded right now remote opportunities isn’t limited to remote healthcare. Adapting to extreme conditions, businesses seek ways to organize remote performance and management of employees via accessible software. You can fulfill their remote needs with SaaS help, e.g., assign and track tasks, chat with employees, and automate responsibility management routines. For instance, there is an AI-based platform for forming and tracking objectives and key performance aspects, which helps track the exact time specialists spend in specialized applications. This can be a great inspiration for you to provide beneficial capabilities for businesses and employ a trendy, attention-grabbing technology concept at the same time.
Tech startups ideas in HR and HRM
SaaS solutions in the field of HR provide effective employee management, automation of routine tasks and, as a result, help increase the productivity of both HR specialists or recruiters and individual employees, as well as of entire departments. An HR solution can help:
- hire employees;
- generate new job positions;
- conduct interviews with candidates;
- manage employee attendance, sick leaves, and vacations;
- train staff and boost in-house qualification;
- send automated notifications and create surveys;
- analyze workflow productivity;
- forecast let-outs and reduce employee turnover.
According to Deloitte, a recruiter spends 93% of their time on routine tasks while 65% of these tasks can be automated. For example, the Ideal service views and selects resumes, Dedicated teams, help to assemble a dream team, and GapJumpers conducts online interviews based on the technology of “blind employment”, i.e., with no discrimination based on gender or race, place of higher education, etc.
Social networks are used by 45% of the world’s population or 3.5 trillion people. The average time spent on social networks is 3 hours. Such active interaction with social channels stimulates brands to publish content and promote accounts through these channels. Planners help simplify interaction with users on social networks such as Facebook, Instagram, Twitter, YouTube, and others. They are used for content strategy creation, auto-posting, and communication with the consumer. Outstanding products in this niche are Zoho and HootSuite.
Such solutions cover the necessary features for running an online business: product and shopping cart management, as well as online payments. You can provide platform services like Shopify, which doesn’t require users to have technical skills to create a store. Or run a full-blown SaaS content management system like WordPress. This category also includes web hosting services. The most vivid eCommerce SaaS examples are Shopify, Volusion, Big Cartel, 3dcart, and BigCommerce.
Along with the healthcare and business sectors, the field of education is in dire need of remote software capabilities right now. Bridging the gap between teachers and students with a universally available software solution is a very demanded initiative. The first thing that comes to mind is a video streaming platform where teachers and educators of all sorts can publish video lessons and conduct live streams (check out the extremely popular Coursera and Khan Academy for inspiration). Apart from that, you can also tackle educational facility management and create a management platform that would help teachers and school administrators easier handle organizational moments. Providing such a solution in the SaaS format will give education workers an accessible way to check and adjust the curriculum, schedule meetings, and keep records.
We recommend reading: 9 Edtech Startup Ideas: Investing In a Market on the Rise
Live streaming platform
Livestreaming is a trend of its own that should be highlighted separately. Most organizations that required the physical presence of customers/clients/guests now use live videos to cover their audiences in harsh remote conditions. As a vivid example, even churches order live streaming services to conduct remote sermons. With a sturdy live streaming SaaS platform of your own, you can tackle the widest audience of companies and specialists in need that would gladly pay for it.
Tech Startups Ideas: Launching a Business Based on 2021 Trends
According to Gartner, the total SaaS market share is expected to reach $140 million by 2022, twice as much as the IaaS and PaaS share. The COVID-19 pandemic and the unstable situation in the world market have formed the nearest trends in SaaS. According to the report by Blissfully, the demand for cloud applications has increased in:
- The IT security niche;
- Tech support;
The trendiest software development approaches include:
- AI integration — about 36% of companies already use artificial intelligence applications, and 47% plan to implement them within the next three years. The use of AI in SaaS applications automates workflows, increases security, and simplifies the processing of large amounts of data. AI is demanded most of all in social, educational, travel, and healthcare solutions.
- Mobile optimization — According to forecasts, by 2022, about 72.6% of the world’s population will access the Internet from mobile devices. From smartphones, entrepreneurs manage business processes, employees respond to messages, communicate via video link or perform search queries. Business people should rely on mobile devices and create mobile-friendly cloud SaaS applications for communication, project management, and tasks.
- Micro-SaaS — add-ons and extensions that complement the functionality of other SaaS services. Micro-SaaS projects don’t require large development teams and have high margins with low risk. Micro-SaaS is expected to serve best for personnel management, email marketing, and collaborative content management.
How to create a startup idea
The primary step to execute startup ideas is MVP creating. It will allow you to test the concept of the product and business model. MVP means Minimal Viable Product and represents a version of the product that has a set of features that show its essential design and functionality. You should start by building the prototypes before creating a full version as MVP could be tested on early customers who can then give feedback and also it can be presented to stakeholders.
The start of the process is a low-fidelity prototype creation. You would create a rough sketch and description of the service functionality and then it will be used for building a high-fidelity prototype (and that is a limited actual product version that should be tested by real users).
Take into account the latest trends in SaaS application development to gain an edge over competitors. It’s never too late to introduce a new idea in the fast-growing world of technology! Contact the Deventor development team for advice and implementation of the SaaS business model application.