If you plan to achieve business growth in a short span, developing a Saas App is the key. According to Statista, the solution will grow to around $208.1 billion by 2023 at a CAGR of 6.46%. These numbers are enough to give an estimate of the nature of the solution. This popularity is responsible for startups and entrepreneurs channeling their energy towards developing it to avoid spending on an ongoing basis on operations and incur fewer investment costs on hardware and software.

Hence, in a nutshell, a Saas app has a wide array of benefits attached, from the business and customer perspectives. Therefore, if you want these advantages, the article is for you.

So, without further ado, let us begin.

What is a SaaS app?

SaaS or software as a service is a product that provides users with the flexibility to connect and use cloud-based apps over the internet. In simple words, SaaS is a methodology through which applications are delivered directly through the internet. Without dependency on the installation and maintenance of software, users get freed from the task of software and hardware management.

Statistics Depicting Lucrative Scope of SaaS

Look at these attractive numbers to understand the lucrative scope promised through Saas App Development.

• The SaaS market will witness growth at a CAGR of 11.7% between the period 2020 to 2026.
• The total market size of SaaS will be $307.3 billion by 2026.
• Revenues the businesses will make through the adoption of SaaS solutions will be $208 billion by 2023.

Through these numbers, it becomes clear that empowering a business with a SaaS app is the key to achieving growth and scalability.

Below are some of the benefits attached to getting the SaaS advantage for your business.

Reasons Why Businesses Should Get the SaaS Edge

Have a look at the image below:

The image above gives you a peek into the main advantages SaaS apps enable the business. In the lines below, we explain these in detail.

• Due to software installation and configuration completed, provisioning the server is easy, and it becomes effortless to get the app running. It, therefore, reduces the time for tasks like configuration and installation. Alternatively, issues that come in the way during software deployment get mitigated.
• With providers having direct ownership over the environment, hence maintenance costs get reduced to a great extent. Simultaneously, costs get split equally among users who may be using the solution.
• Easy accessibility is what makes the solution worth adopting. As a result of being web-based, users can access data from any location and perform their tasks with utmost effectiveness.
• Eliminates instances of downtime as maintenance responsibilities usually present in traditional software get shifted to the vendor.

Read Also: IaaS vs PaaS vs SaaS: Choose Most Suitable Cloud Computing Service Model

Different SaaS Types

SaaS applications are of many types. The ones that are of benefit to the business and the users are as follows:

1. CRM (customer relationship management) software to manage data of customers, track customer interactions, and automate sales.
2. ERP (enterprise resource planning) software that integrates various functions into one system to enhance efficiency and make information sharing a seamless task.
3. Accounting software to ensure smooth organization of finances to be aware of the business growth and its pace.
4. Project management software for tasks like planning projects, managing schedules, and allocating resources apart from communicating deadlines for project completion on time.
5. Email marketing software for optimizing the way email delivery happens.

Now you are ready to enter the development stage. Follow these steps to ensure the solution you create gives you maximum business advantages.

How to Build a SaaS App? Steps to Follow

There are four main stages involved during the process of SaaS app development. They include planning, researching, selecting an appropriate monetization model, choosing a tech stack wisely, and connecting with a trusted company from offshore.

• Create a Plan

Before you even embark on the journey of SaaS app development, you must create a full-proof plan. Ask some important questions.

Here are some of those questions:

• Name the sector/sectors your SaaS app will cater.
• Name the problems your SaaS app will address.
• What expertise would you need for the SaaS app you develop?
• Who are your target customers and their location?

• Conduct Market Research

There are two stages involved while conducting market research, knowledge of the target audience and competitive analysis. Performing these two will ascertain you know the ins and outs of a solution that will do well in the region where you will launch your solution.

Hence, ask yourself these questions in advance:

• Who are the best players in the market, and what are the strategies they adopt during development?
• What SaaS apps have they developed in the past, and what responses have they received for these solutions?
• Name the missing elements in competitors’ solutions. Can they be beneficial if added to yours?
• What are the market revenues competitor’s solutions achieved? How can you get more?
• What are the pricing strategies and revenue models adopted by your competitor? Are they beneficial to you?

• Select Monetization Model

There are three main kinds of monetization models. They include- charging transaction fees, a freemium model, and in-app advertising.

• Charging transaction fees for services that customers access will allow the business to earn commissions based on the amount user pays.
• Through the freemium model, based on payments made by the user for the premium version of the app to give them access to advanced features.
• Through in-app advertising, the business owners get paid based on clicks users place for viewing ads or videos.

• Select Tech Stack Wisely

To create a SaaS app that works robustly, you must place your focus on the tech stack.

For Server-Side

• Ruby
• Python
• JavaScript
• PHP

For Front-End

• HTML
• CSS
• React.js
• VueJS
• Angular

For Back-End Language Storage

• MySQL
• MongoDB
• PostgreSQL

• Connect with a SaaS Product Development Company Offshore

A vital stage mandatory during the SaaS app development phase- connecting with a SaaS product development company offshore is the next step towards building a successful SaaS app. Check out GoodFirms, Clutch, etc. Look at the portfolios to take a peek into their expertise in this field, understand the app development stages they follow and gain insight if they can handle your project well.

On getting a green signal to these, you can connect with a support professional from the company and get an estimate of the finances you need to incur for this.

With awareness of the different steps followed during SaaS app development, you must have an idea of the budget to allocate for this.

Estimated Cost for SaaS App Development

Learning the development process, the challenges, and the mistakes you need to avoid during SaaS app development, let us now gain insight into the budget.

When discussing this area, it is important to understand key aspects you need to put into consideration to determine the overall cost. This includes the technologies you choose, the features you pick, and most importantly, the country from where you select your development team.

All of these factors merged together will offer you a rough estimate of the overall cost and ultimately affect your budget.

The average cost for building a SaaS MVP is between $25,000 to $60,000. However, in case, if you want to include more advanced features, the cost will go up and it will be somewhere between $70,000 to $150,000.

Challenges You Might Face during SaaS App Development

• Adding custom third-party integration.
• Maintaining database security for encrypting user-to-server communication.
• For making updates and performing the task of deployment.

Mistakes to Avoid during SaaS App Development

• Do not overlook the feedback of customers. Instead, maintain consistency in the level of conversation with them.
• Address the onboarding process. Make sure to keep a tutorial within the app for users to know how to use your solution.
• Do not ignore suggestions. Instead, give preference to it to boost the level of engagement for users towards your solution.

With all these areas focused upon, you can be sure your SaaS product will allow your business to earn healthy profits right from the first day itself and can get maximum customers engaged with it.

Wrapping Up

SaaS app development has a very lucrative scope. It allows the business to automate its different tasks- from providing product recommendations to customers to how it performs tasks such as managing their billing cycles. Therefore, if you have not invested in building this solution- do it now!

If you are planning to build a SaaS product that will help you achieve growth in a short time, we at XongoLab are your trusted partners. Our professional developers with enterprise-grade expertise will walk shoulder-to-shoulder in the journey to offer you a complete solution that allows you to reach your predefined business goals.

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