For many years, enterprise software was only deployed in a way that each customer had their copy of the software installed separately on their computer or a private server. The rise of rapid cloud technologies revolutionized the software industry to a point where software can now be remotely accessed from the cloud. What this means is that software vendors, who were initially hosting one copy per customer, shifted this towards a single cloud-hosted version of the software that can be accessed by numerous customers simultaneously.
This whole concept of a single software being able to be accessed by multiple customers at the same time is what is now referred to as Software-as-a-Service (SaaS). Some of the most popular forms of online businesses where SaaS has been adopted include online casinos such as GG Bet, where hundreds of thousands of users can relish the features of the same software at a go.
The Dawn of A New Age
So far, the software industry has gone through a great transition to birth a new era in SaaS businesses. The new SaaS came with the democratization of software through the adoption of greenfield and on-site migration. Now we see the firms that were developed as a result of the first era of SaaS are now transitioning to brand new Power SaaS brands, defined by ever-increasing returns to market control.
Characteristics of New SaaS
During the early days of SaaS, the main focus was better delivery, and in return, attractive economic models like low starting costs and monthly subscriptions were realized. In the second era, there was huge software acceptance because the freemium models it implemented brought in much greater usability. And for the new SaaS, the Power Brands have a more promising future with much bigger potential. The most notable characteristics for the new generation of SaaS are:
- Mounting strength of important brands and platforms;
- Customer monetization via Cross-sell;
- Marketplaces and APIs that strengthen networks.
How Power SaaS Brands Work
This growing role of Power SaaS brands is evident across a range of enterprise software providers based on the SaaS model. The most popular firms with advanced horizontal software on the SaaS platform include Hubspot in marketing, RingCentral and Twilio in cloud communications, Shopify in e-commerce, and the Playtech Open Platform, which is a cross-platform solution for online casino and sports betting. Because of the availability of standard API’s on the SaaS platform, products and services are available instantly.
Another use case for SaaS in the casino industry is Agilysys Lodging Management System or LMS, which is focused on offering technology solutions to casino resorts, hotels, and many other related businesses.
In the wake of the new age of SaaS, industry analysts predict that these SaaS market segments are a vision of what is to come in other less SaaS infiltrated sections, whether you are talking about geographic, vertical or custom size. The only crucial repercussion of this is the race to win in the less SaaS influenced segments. The huge parts of the markets are still open wide, but knowledgeable founders and investors are rushing to leverage these areas.
What About a Disruption?
As the classic tech narrative goes, each generation endures only to be disrupted by the next generation. Certainly, a paradigm shift in Artificial Intelligence, Virtual Reality, Augmented Reality, Mixed Reality and many more are next in line to disrupt the innovation ecosystem. We would argue, however, that today’s leaders progressively have huge advantages that will keep them winning in a world defined by massive scale. Besides, these new cutting-edge technologies simply build on the fundamental basics of cloud and mobile that top firms have comprehensively mastered.
How Do Winners Keep Winning?
To shed some light on how leading software providers across the industry are staying ahead of the game, here’s a closer look at what keeps them at the top of the food chain:
This is a major value driver in leading SaaS business. The players practicing the Cross-Sell technique usually take a large existing client base, then boost revenue collected per customer and decrease a stir up by selling in complementary solutions. Of course, what makes this work is that they eventually meet the needs of the client. In this way, their main product creates a foundation on which other products are anchored.
Artificial Intelligence and Automation
Top SaaS firms that are ahead of their game are already well advanced in integrating artificial intelligence and automation into their propositions, thereby guaranteeing high productivity with much less input.
Mergers and Acquisitions
Power Brands also regularly strengthen their winning position through highly calculated and effective Mergers and Acquisitions. These acquisitions assist in countless ways, but above all else, these firms continue to stay ahead through the adaptation of innovative technologies that make them grow.
For sure, the future of SaaS is going to be incredible as software and technology merge to usher in groundbreaking innovations that both businesses and users had never anticipated before!