Page 31 - 20 Futuristic Startups In India 2021

With SaaS, inter-departmental collaboration has In the former, as understood, the service will be
increased as now it is easier to share files, work on proj- customised, targeting clients within specific indus-
ects and stay connected with different teams in the tries and supply chains. For example, companies
same organization. Also, security-wise, most of the SaaS will come with industry-specific analytics solutions
models are more secure and come with pre-existing customised separately for industries such as health-
disaster recovery and business continuity plans, regard- care, retail, manufacturing, transportation, storage,
less of any data breach or system failure. education, etc. In vertical SaaS, the solutions are
more adaptable, customer-centric, and focusing
The Growth Paradigm on niche features. This gives SaaS providers KPIs
The need to reduce expenses and stay connected to provide better scope for upselling and reselling,
primarily driven by the ongoing pandemic has been a lowering customer acquisition cost.
huge reason for the growth in SAAS offerings. Busi- „ Micro-SaaS: Micro-SaaS are majorly the small play-
nesses have realised that SAAS models are the best way ers who provide limited or complementary solu-
to be digitally efficient that allow their businesses to tions to their customers. These are mostly add-on
survive and thrive. This rising demand has also increased services to existing platforms or services that fill
the market demand and competition for better and the gap of the one missing feature in an existing
improved SaaS services. SaaS product. It is called micro SaaS because of its
company size or product focus, which usually is both
Presented below are the 5 major SaaS trends to limited and small. It is a SaaS model, mostly a verti-
look for in 2021 cal one targeting a niche market, run by one or two
„ AI and Machine Learning: AI is projected to have members, often with limited services.
a market value of $733.7 billion by 2027. AI makes
sense and gives value to the enormous data that any „ PaaS: With the coming times, the SaaS industry will
digital solution generates. Hence SaaS will see the evolve and increase in volume and portfolio, which is
adoption of AI in multi-folds in the coming month. a primary growth factor for customer retention on
AI-based algorithms provide calculated analysis top of customer acquisition. A SaaS conversion into
and prediction that helps business optimize their PaaS (Platform as a Service) means that the soft-
processes, make informed decisions and automates ware providers will be adding other custom apps as
repetitive tasks, saving businesses time and money. add-ons to their original offerings.
Machine Learning, a subset of Artificial Intelligence,
helps in pattern recognition, streamlining business It gives an edge to a SaaS business model, as it brings
operations and automating responses for better greater agility, scalability and security to their overall
offerings. Enhanced features, functionality, and the
customer experience. ML is also one of the most ability to customize will make the solutions more agile,
sought after trends in the SaaS market. AI solutions giving businesses more time and resources to focus on
provide online reporting that helps businesses stay core commercial activities. PaaS offerings are, by their
on track with their KPIs and flag down upcoming very nature, robust, flexible, and accessible, which means
fluctuation, helping them decide the future course you will be able to scale your business easily by using a
of action.
platform as a service
„ SaaS Mobile App Trends: India’s mobile usage
is projected at 900-million by 2023, with nearly Conclusion
two-thirds of the population estimated to have inter- The SaaS industry is here to stay and grow further
net access and a mobile device. With SaaS adoption, revving on all engines. SaaS is not only more user-friendly
we are already accessing the app versions of the and scalable, but it also ensures data availability even in
software on our phone. The year will see a simplified case of disasters. Hence it is a complete go-to-option for
user experience (UX), ultra-responsive app features businesses and individuals. As data continues to be the
and functionality, with factors like task optimiza- driving force behind current business strategies, SaaS
tion, one-swipe actions, online payment, and intui- model is only going to be an increasingly convenient and
tive filtering capabilities. In the upcoming months, affordable option across industries.
immersive mobile technologies like augmented and
virtual reality will also find prominence in mobile
apps. Overall, advanced and user-friendly mobile
experiences will be at the forefront of the SaaS
adoption criteria.

„ Vertical SaaS: SaaS services can be divided into
vertical and horizontal. In the latter, the service is
focused on clients across any sector and industry.

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