The SaaS concept is just beautiful. Instead of buying an expensive one-time license, you pay for the right to use the platform. The subscription provides the developers with the resources to keep developing and maintaining the platform, which means that, in the end, everyone wins.
The problem is that too many SaaS platforms put you, as an entrepreneur or a manager, in a paradox of choice. It’s easy to choose between one or two options, but what happens when you have so many options in front of you?
Here’s a guide to help you pick the right SaaS platform for every aspect of your business.
What is a SaaS platform?
SaaS (software as a service) is a concept where you don’t buy a product license (like in the past) but, instead, get a subscription-based system, where you pay a monthly fee and receive the service.
The best example can be seen in the streaming service industry, where instead of buying films and series, you get to pay for a subscription and watch all the content on that platform for a month.
The biggest benefit of SaaS lies in the fact that the entrance fee is lower than what you would have to pay to buy a software license. For instance, the monthly (or even annual cost) of Microsoft 365 is cheaper than the cost of an Office 2021 license.
One thing that SaaS platforms excel at is that SaaS applications offer continuous support and improvement. Every SaaS product tries to combat a high churn rate, which is why they need to improve, patch, and take customer complaints seriously.
Types of SaaS Applications/Software and Examples
Project management software
You should usually start organizing things in your home, keeping your team in line. For this, you need to provide them with a workspace. The digital equivalent of an office is project management software, which is the first SaaS service you should consider.
This tool allows you to assign and track assignments. It’s a great tool because it helps make this transparent but not too transparent. It’s not a whiteboard in the office where everyone can see their coworker is three days late with their assignment. This would be anxiety-inducing. This way, only people who need to know have an insight.
This is also one of the best things about project management SaaS applications. It gives you a simple way to grant and restrict access. People can be assigned to projects on a need-to-know basis. Everyone can see only the resources vital to their work. This type of compartmentalization increases cybersecurity by a significant margin.
Resource allocation is always challenging when managing large teams, but this platform can simplify it. Everything will be more transparent, and you’ll get a more accurate graphical representation of what goes where with the right SaaS solution.
The most important thing you must understand about project management software is that in-house employees also use it. It’s not just something that you just keep for the sake of remote teams. Still, project management software is always a good idea, given the number of remote employees worldwide and the hybrid nature of most modern workplaces.
This is especially true since these tools can be easily integrated with other software and systems, like marketing automation platforms.
Consent management solution
As a business, you’re collecting customer data. This SaaS app is your bloodline, and you cannot make an effective outreach or even a good offer without knowing it. Moreover, in 2024, customers expect a higher level of personalization. You can’t personalize your platform for them if you don’t know who they are.
However, you cannot collect data without minding consent.
Collecting user consent is a massive challenge, but your work doesn’t end there. You also have to manage and document consent. Knowing that you have consent is excellent, but you need a way to prove it. With consent management solutions, you’re streamlining all these interactions. Not only that, but you’re keeping it all centralized and in a searchable digital environment.
Most importantly, with the right SaaS model, the process is automated. This means you won’t skip asking for compliance, no matter how many visitors or customers you get. It also means that you won’t
Privacy regulations go far beyond national jurisdiction. If you’re working with parties from the EU, you must comply with GDPR. If you’re working with parties from the US, you have to comply with the CCPA. Tracking all of this on your own (the old-fashioned, manual way) is an impossible task. The right SaaS platform can make it quite effortless.
Laws and regulations change, but if you have a SaaS provider, you can rest assured that all these rules are automatically updated and processed to adhere to evolving legal standards. Many companies fail this test, but with the right platform, your solution to the problem becomes both dependable and automatic.
Customer relationship management tools
Once you get the data (after diligently collecting consent), you must do something with it. A CRM platform can help you find a solution to your problem. This tool collects and stores user data and provides you with all the insights you need.
Imagine a scenario where you’re joining an event wearing a unique set of high-tech glasses. You encounter a person, and as soon as the glasses load, you get a display stating all the relevant information you have about them. You see their name, their info, and even fragments of your previous conversations (and their analysis of interests).
How hard would it be to impress a person using these tools?
Well, this is precisely what a CRM will do for you regarding each of your clients. This SaaS tool will help with customer profiling and audience segmentation, making it an indispensable aid to your outreach strategy.
The outreach strategy is essential for re-engaging and post-sale follow-up. It’s so easy to talk to your customers about maybe giving you a second chance if you already know what they looked at the last time around. Remembering that they have an item they haven’t bought in the shopping cart gives you a great opening line. They don’t even have to purchase that item.
The more you know about the person you’re talking to, the more effective your communication will be. This is important, not just for outreach but for relationship-building. Establishing excellent communication adds to the value of the interaction. Suddenly, they feel like they’re getting more for the same SaaS platform.
Accounting and invoicing software
Your business doesn’t make much sense unless you’re making money; however, you can’t wait for the audit to see if you’re doing well.
You need a way to find out about this in real-time. Just think about strategy video games, where you can easily outperform some of the best generals in history. Part of this is that you can use your UI to see all your resources. You know the health bars of your soldiers, the amount of gold you have in the bank, etc. Accounting software from the right SaaS vendors can give you this in real life.
You also need all the records and make sure that you pay all your taxes on time. In other words, you need an accounting and invoicing software.
Aside from just tracking your income and expenses in real-time, you must click a single button to get a report. That’s it. In the past, it would take dozens of bookkeepers and accountants hours. Now, it can all be done in a matter of seconds, and all you need to do is access the software of your choice.
The most important thing here is that you can integrate your accounting and invoicing software with your banking system. This way, the platform can automate payments and reconcile transactions without much effort.
Otherwise, invoicing can be fairly difficult.
The big irony of invoicing is that it’s supposed to be a simple and standard process, but if you have to create and fill in invoices manually, you can lose a lot of time each month. Most businesses send invoices of various sizes and significance almost daily. Keeping track of this is difficult, but you can make it easy with the right platform.
HRMS
Lastly, your company is only as good as your team, and how you treat them is likely how they’ll treat you. A sound human resource management system (HRMS) will simplify this task. This is a service that traditional software just cannot provide.
First, this helps you figure out payroll and benefits. Your employees won’t stay if they’re not compensated for their work. They need to be paid adequately according to industry standards, and if you provide them with decent benefits, they’ll feel like you appreciate their work.
Second, sometimes your employees are paid based on performance. Whether you’re paying them per task or hour, you need a system to track this, and through Software as a Service, you’ll get it in an affordable and simple manner.
Moreover, since almost every modern SaaS platform has a scalable pricing model, it’s so much easier to control the costs of the tools you use.
The system needs to be accurate and concise. Otherwise, you’re in potential legal trouble, but an even bigger problem brewing. Your employees might start feeling as if they’re being mistreated. These are dangerous accusations you have to avoid one way or another.
Previously, we discussed compliance with data privacy, but being compliant with labor laws is even more critical. This is incredibly challenging for remote teams, as they work with employees from countries with different labor laws.
Lastly, HRMS improves the rate of employee onboarding. This is more important than you think since hiring is expensive, and your employees won’t start providing value immediately. Well, the better your onboarding process, the sooner they’ll begin.
What is the future of SaaS?
AI is becoming the backbone of SaaS, transforming how businesses operate. We’re looking at smarter automation, better decision-making tools, and predictive analytics that keep getting better. As AI continues to evolve, SaaS platforms will offer even more intelligent solutions, making everything from data management to customer support more efficient and intuitive.
Gone are the days of one-size-fits-all SaaS solutions. The future is all about personalization, with software that adapts to individual user needs. Think tailored dashboards, customized workflows, and AI-driven recommendations. This level of personalization will make SaaS tools more valuable, helping businesses deliver exactly what their user want when they want it.
Customer success is moving from a buzzword to a central pillar in SaaS. Companies are realizing that helping clients achieve their goals isn’t just nice to have—it’s essential for retention and growth. Expect more proactive support, data-driven insights, and dedicated success teams to become the norm in SaaS offerings.
Conclusion
The most limiting factor with these platforms is that, while they’re cheaper than buying a one-time license, they cost you in perpetuity. When you add enough of these platforms to the list, what you get is a hefty sum. Still, your investment is worth it, and you can rest assured that your money is well-spent.
