The world is changing rapidly, new businesses are acquiring the market, and competition is increasing by the day. Companies are coming up with innovative ideas to beat the competition, leading to unprecedented growth in the software market.
Considering the software market, not only have new software programs been introduced, but new distribution models have also come up.
One such model of software distribution is the SaaS model. SaaS stands for ‘Software as a service. In this distribution model, instead of the general on-premises programs, the software programs are accessible through the internet on a subscription basis.
Renewal is required after the subscription period ends. The data is stored in the cloud, and this model offers several advantages that have made it quite popular. There are a number of SaaS development Agencies that have started providing these services and models.
The increasing popularity has led several businesses and startups to adopt this model and distribute their services to the public. SaaS is expecting impressive growth.
According to financeonline.com, from 2019 to 2023, it is predicted to be worth $60.36 billion, with a 9% CAGR. SaaS offers immense opportunities for startups, as is evident by the statistics.
Here are some startup ideas that can be pursued using the SaaS model –
1. Automated Digital Marketing
Marketing is a necessary part of any business, and every business or organization lays considerable stress on marketing.
Digital marketing has witnessed tremendous growth in recent times, and several platforms (especially social networking sites) have developed dedicated segments to promote digital marketing on their media.
Professional marketing faces are optimizing the content according to different platforms and individually handling these accounts for these platforms.
SaaS can play a significant role in providing these marketers with a platform that consolidates the marketing channels and automatically optimizes and schedules the delivery of the marketing content.
2. Video Rendering
Video content is an effective form of communication. With the development of affordable, high-quality recording devices, marketing through Videos has grown substantially over the years.
However, with the growth in quantity, the viewers’ quality is expected, and this is where the difficulty arises.
Though there are plenty of software programs that can be used to edit and process videos, they are generally sophisticated and require a skilled editor.
A SaaS software that makes the rendering process easier for a layman would garner a lot of popularity. Eliminating a third-party intervention will cut costs, and simplistic features will save a lot of time.
3. Online Healthcare
The Healthcare system defines how prosperous a state or a country is. The demand for healthcare professionals is skyrocketing. Long queues for appointments and a lack of professionals in the locality pose great problems to the distressed people.
Bringing healthcare services right at the door seems to be an effective solution to the issue. In addition, this idea can be effectively implemented using the SaaS distribution model.
Online appointments using face-time, medical prescriptions, and checkup schedule management can be integrated to make it interactive and convenient for people.
4. Team Management
Teamwork has always been stressed to accomplish difficult goals. However, it is simpler said than done.
The coordination between the team members is not spontaneous; it needs to be effectively managed to bring the best out of the workforce. Here, Team Management plays an important part.
Team Management elements are necessarily assigning tasks, workflow assessment, team communication, and so on.
SaaS software can effectively deliver these services in a coordinated and interactive manner to enhance teamwork and workflow management.
5. Instant Credits
The development of the internet and security has aided many business sectors, finance being one of the prominent ones among them.
People are always in need of money, and most of the time, the amount is small. The requirement is immediate in such cases, and applying for loans is not a feasible solution here.
Such problems can be resolved by providing users with instant microloans by fast-tracking the credit rating and other bona fides.
SaaS can play an important role here, given the rise in internet payment security and assessment speeds due to the online availability of data.
6. Blockchain Invoicing
Blockchains are distributed ledger records of transactions. Peer-to-peer networks essentially manage blockchain, and the records are highly secure.
The technology is highly prospective and has recently come to the public eye after the tremendous rise in capitalization.
Blockchain invoicing technology can revolutionize transaction validation. With Blockchain being tamper-proof and transparent, accurate information is accessible on it.
These features eliminate any discrepancies related to transactions. However, the idea is still in a primitive stage and offers huge opportunities.
Online learning is one of the most prospective business fields right now. The availability of computers and smartphones coupled with curious and competitive young minds have led the E-Learning businesses to incredible growth.
According to techjury.net, the worldwide e-learning market is projected to be worth $325 Billion by 2025.
While numerous businesses provide study materials, tutorials, and course programs, the opportunities are not stagnating anytime soon- simply because there is an endless amount of knowledge to be learned.
SaaS platforms are best suited for such businesses as the material can be centrally updated and assessments can readily be made, and storage is not an issue.
Accounting is an essential aspect of any business that cannot be compromised. It requires highly skilled professionals to take care of the entries and make proper assessments out of the information.
Businesses tend to pay a lot of money on proper accounting systems, which all startups cannot afford.
To ease the problems of such startups and offer services to other big businesses, subscription-based Accounting systems can be introduced.
According to the changing governmental plans, Centrally managed and updated regularly can bring in many users at affordable prices. In addition, other complementary features will add to the popularity.
9. ERP Systems
Businesses rely on several programs to handle HR, Finance, Marketing, Operations, and so on.
Providing them with a single software to manage all these aspects would relieve them from a lot of trouble.
Such systems are called Enterprise resource planning systems, and there are many opportunities to grow by pursuing this idea.
10. Analytics Solutions
Analytics is of utmost importance for business growth. Decisions made by considering analytics make growth highly probable. Though there are numerous analytics platforms out there, each has some drawbacks.
If you can make your Analytics system user-friendly and provide solutions considering the drawbacks of the popular Analytics platforms, growth will become certain.
SaaS software programs are comparatively new in the software market, and their future is very bright. Therefore, if you are considering founding a software startup, SaaS is highly recommended.
With a trending niche, proper market research, proper management, and execution, success is very high.
Author Information –
Author Name:- Harikrishna Kundariya
Biography:- Harikrishna Kundariya, a marketer, developer, IoT, ChatBot & Blockchain savvy, designer, co-founder, Director of eSparkBiz Technologies, A Mobile App Development Company. His 8+ experience enables him to provide digital solutions to new start-ups based on IoT and ChatBot.