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SaaS, or software as a service, is evolving rapidly. SaaS provides flexible payment options, scalability, accessibility, security, consistent updates, and increased collaboration. These all are cores of any profitable and growing business. With the rise of SaaS apps, the market competition is growing as well. So, if you are a startupper, you definitely need some bright SaaS ideas the Codica team collected for you.
Statistics on SaaS trends
According to Statista, the SaaS market is projected to reach 195 billion U.S. dollars by 2023. Now, the highest number of SaaS enterprises (15,000) is in the United States. This number is followed by the UK (2,000), Germany (1000), and Canada (1,000). However, Statista forecasts that the SaaS industry value will enhance by over 2 times in major European markets.
Also, according to the recent Harvey Nash survey, SaaS is considered the most vital technology in business success as it helps achieve business goals.
Pretty inspiring statistics, agree?
Top SaaS ideas
Now, let’s consider some of the top ideas for SaaS startups in 2023.
Property management solution
Property management SaaS platforms help lessors, and real estate specialists track property leases and maintenance. Moreover, this software assists in collecting rent and with finance management. Thanks to this type of SaaS solution, users can save money and optimize operations.
For example, Buildium is a SaaS property management solution. This platform allows real estate experts to control property portfolios. Users can monitor accounting, online rent payments, and maintenance cycles with it.
Feedback management platform
Feedback management software enables companies to transform customer feedback, such as surveys, into helpful information for an organization.
An example of the feedback management SaaS platform is Delighted. It is a digital survey tool that helps easily measure your net promoter score. Delighted is powered by an AI that allows analysis feedback. The solution’s main features include random sampling, real-time reporting, and multi-channel feedback collection.
Workplace productivity platform
All businesses aim to take their productivity levels to new heights. This is especially relevant for firms that should work on diverse projects simultaneously.
One of the variants to gain higher levels of productivity in the business is to use quality SaaS solutions, which can help you to automate tasks.
For instance, Calendly is a great example. Many organizations can find calendar management to be a big issue. But this online calendar, Calendly, can do all the challenging work instead of you. It enables users to customize automatic reminders and follow-ups. Users can also connect all of their calendars in one place. Thus, they never face the situation of double-booking.
Roadmap publishing SaaS
The public roadmaps are portals for your business’s users to share feedback. With them, users can find out what new features appear in your solution, and check what has already been launched. These SaaS solutions help enhance user experience.
For instance, project management software called ClickUp applies a ClickUp doc to share what comes next in each quarter. This is an excellent visual option to share the high-level overview of your roadmap with your shoppers.
Social media analytics platform
Social media management SaaS solutions optimize workflow by encompassing many social media in the same place. Due to scheduling, these SaaS tools ensure the content is delivered to the right target group in time. Also, you can measure your social media ROI (return on investment), run social media advertisements, and receive convenient reports.
One great example of a social media management SaaS platform is ContentCal. It is a B2B SaaS content marketing solution. ContentCal assists in building a strong digital presence for businesses due to social post automation, analytics, and scheduling.
Stock market valuation SaaS apps can forecast growth rates, risk-free rates, and dividends. This way, investors and traders can analyze previous trades to enhance them in the future. The accumulated experience in the app provides an easy analysis for users.
Let’s consider an example of such a SaaS solution. Investing.com is a prominent investment cloud-based solution with a SaaS business model. It helps investors see real-time data, forex, charts, stocks, currency quotes, and indices. Also, Investing.com offers access to tech analysis, news from the financial world, and helpful analytics.
Video rendering and editing
Video rendering is quite a resource-demanding online process, specifically in real-time mode. Often, it is difficult for non-professional video editors to render media with professional software. Video editing and rendering software as a service app can help a lot.
VEED is a SaaS software tool that simplifies video editing and making videos from podcasts. This SaaS project idea generates its owners $7 million in annual recurring revenue, with a number of app visitors of over 1 million.
The fintech SaaS platform enhances invoice management by speeding up invoice approval and protecting against fraud. By providing invoice automation, SaaS solutions assist businesses and freelancers in ensuring the accuracy of transactions. This helps save resources and strengthen supplier relationships.
For example, the Quadient AP Automation app established by Beanworks is an efficient account payable automation tool. It makes invoicing for e-commerce ninefold quicker. With this killing SaaS product idea, Beanworks generated $12.3 million through private investments.
Virtual assistant app
Great SaaS project ideas for virtual assistants enhance user experience and lower expenses. Furthermore, such SaaS ideas can manage team scheduling, planning resources, or measuring workers’ engagement. Currently, the virtual assistant’s capabilities are still subject to investigation for SaaS startup businesses.
As an example, we can name Conversica, a startup located in the United States. It is a prominent SaaS provider of AI virtual assistants. The Conversica app can score, capture, and manage leads for sales and marketing teams. Being one of the hottest SaaS app ideas, Conversica generated $132 million in total funding.
The SaaS market is full, but startups continue creating add-ons, plug-ins, and extensions for existing SaaS businesses called micro-SaaS. Micro-SaaS is a microservice within one platform. It satisfies the needs of a very narrow but targeted segment of customers.
For example, Google Apps, Gmail, Google Site, and Google Forms are SaaS software. Boomerang, an email scheduling and tracking feature, is a micro-SaaS.
Is SaaS the future of digital business? We think so.
SaaS is becoming more and more capable of solving business and end-user problems. By choosing the right idea, you can develop a popular product and even reach a decent profit in the micro SaaS niche.