Software as a solution (SaaS) is one of the fastest-growing segments in the IT industry, with organizations using an estimated average of 80 applications each.
SaaS solutions enable data to be accessed from any device connected to the internet offering a level of flexibility and convenience needed for today’s hybrid workforce. Plus, using enterprise SaaS applications also means companies can avoid having on-premise software, and their IT needs can be outsourced to the experts.
With growth of the enterprise SaaS market showing no signs of slowing down, we can expect over the next few years to see even higher adoption rates and more solutions to be introduced.
Here’s our take on the top of enterprise SaaS trends for 2022.
#1. Customer Experience Outshines Complex Solutions
It’s not a secret that companies are very focused on who can deliver them a great customer experience. They want solutions that aren’t overly complex and meet their specific needs.
Companies purchasing software value providers who are easy to do business with. As a result, SaaS providers are shifting towards ensuring they offer even more options to potential customers — improved personalization, more ability to customize, white labeling, APIs, and more.
Instead of being focused on adding new customers, expect enterprise SaaS providers to increasingly focused on simplifying their suite of services so they can retain customers.
#2. Deeper Integrations with AI
Artificial Intelligence (AI) is permeating every facet of the tech industry, including enterprise SaaS. AI offers software developers a way to automate work that would normally be done by humans, increasing productivity, efficiency, and speed of internal processes.
Combining AI and SaaS also allows for increased personalization and customization using advanced algorithms. Something as simple as data alerts can be enhanced by using AI to search for anomalies, trends, patterns, and other monitoring functions. This can impact the overall security of the systems by identifying and remedying potential threats.
As we head into 2022, expect to see more SaaS providers offering enhanced AI capabilities.
#3. Comprehensive Data Solutions
The world of big data is thriving, and companies know that data represents a huge amount of information and value — if they know what to do with it. Understanding how to leverage the data available and using solutions designed specifically for this purpose can aid in everything from product development to increasing customer satisfaction.
Having mass amounts of data also makes a company vulnerable, but SaaS software can help mitigate any threats. That’s exactly why we expect to see more enterprise SaaS providers begin offering more solutions geared towards data mining and protection.
#4. Increased Focus on Retention and Churn
As the enterprise SaaS market becomes more competitive, providers need to look for how to differentiate themselves from the pack. While a provider may offer a great product, it’s not a guarantee that customers will stick around.
Pricing is often what draws people to a certain enterprise SaaS provider, but it will be things like solutions and level of service that make them stay,
Ensuring SaaS offerings are plug-and-play, providing ongoing technical support, and having customized solutions available are just a few of the ways we expect the SaaS market to evolve in 2022 and beyond.
#5. Rising Demand for Vertical Solutions
While much of the enterprise SaaS software on the market operates across multiple industries, the demand for vertical solutions is on the rise.
Vertical SaaS refers to a grouping of software solutions that are designed to meet the needs of a specific industry. Whether it’s healthcare, banking, or retail, SaaS providers are seeing an increased need to cater to a particular market.
For companies pursuing the creation of vertical solutions, there’s tremendous untapped potential to work with companies within specific industries. Watch for more vertical-specific enterprise SaaS solutions for 2022.
Enterprise SaaS: The Evolution Continues
Based on these trends we’ve shared, we can expect that the enterprise SaaS market will see some considerable change and growth in the coming year.
For companies looking to increase adoption of enterprise SaaS applications, while the exact solution may not be available yet, working with their provider on custom solutions is a path worth exploring.
As your SaaS adoption grows, you’ll also need to ensure your team is equipped with tech-forward skills. Looking for opportunities to upskill your teams as technology evolves is one of the best ways to position your enterprise for the future.