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June 19, 2019

Trends in the SaaS Market: Why Investing in Tech Has Never Been More Profitable

From business solutions to data analysis tools, there’s no denying that the software as a service market, or SaaS (News - Alert), is booming. In fact, research shows that by 2020, about 85 percent of small businesses will have invested in SaaS solutions. There are a number of ways that you can invest in the SaaS market, and there are countless resources available to educate you and simplify the process. Here are a few common SaaS market trends which might be worth the investment.

SaaS for property managers

Companies like Turbo Tenant offer SaaS tools for property managers. This solution simplifies the process of renting property with software designed specifically for landlords. It provides an easy online application process that potential renters can use. It also enables property owners or managers to advertise the property to attract potential tenants, perform background checks, and manage tenant leases.

Because of the decline in home ownership, renting has seen quite the rise. And with an overwhelming amount of applicants to consider and inquiries to answer, it’s no wonder why such property management tools are the way of the future. Not only can landlords manage their applications and screenings more efficiently, but they can collect rent and respond to tenant maintenance requests all from one convenient portal. Such solutions ensure that landlords can find and select the best tenants possible while easily maintaining their rental properties and records.

SaaS for project management

With over 68 percent of global employees working from home at least once per month, it’s no surprise why SaaS project management tools have seen a heavy spike in usage. SaaS cloud project management tools provide a much needed solution to allow teams to effectively collaborate and complete tasks from wherever they choose to work.

Services like allow team members to outline projects, delegate tasks, and track performance to ensure on-time delivery and completion. SaaS tools like Slack allow communication between different team members and departments through general and item-specific channels. These tools can be used via desktop and mobile devices and can even be synced with other accounts such as Outlook and Gmail to further connect and collaborate.

SaaS for ecommerce

In 2019, there were almost 2 billion global buyers online, with well over 100,000 online companies and stores servicing them. Online purchasing has revolutionized the shopping experience. Users have access to anything they want literally at their fingertips. Not only so, but they can compare prices and have their items shipped to their home without them having to move from their seat.

Given all of this, it’s easy to see why so many individuals see potential in starting their own online businesses. With an online business, overhead costs associated with renting a brick-and-mortar location, hiring employees, and marketing are much less than what they would be otherwise.

SaaS platforms allow entrepreneurs to start their businesses without having to purchase any software or even code and develop their online store. Platforms like Shopify take care of a store’s security, hosting, performance and even offer stats and insight into key metrics such as visitors per day, conversion rates, and average time spent on a page. In exchange, shop owners pay a reasonable monthly fee and focus their time and effort on much more important aspects of the business, like products, inventory, and even marketing.

Given the hyperconnectivity of our world, it’s no wonder why so many individuals are choosing to invest in SaaS solutions. Not only do these cloud services eliminate the overhead costs associated with implementing hardware tools and scaling businesses, but they also offer cloud storage solutions, data management options, and make collaboration and cloud-computing easier than ever. For those looking to invest in services that are here to stay, SaaS solutions seem like worthy contenders.

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