20 SaaS Startups Ideas to Build a Profitable Product in 2020
The entrepreneurship industry in today’s time is highly trending. More businesses are being established in the world that are helping people in making their lives better. Starting a new business is a fairly complex process.
It needs a huge amount of involvement, hard work, and, most importantly, investments. This is why cloud software businesses are topping the charts in the modern business world. They are practically more efficient at starting a business and have a better possibility of scaling themselves in a shorter time.
However, people have started coming up with all kinds of SaaS ideas without looking at their feasibility. To get profitable SaaS ideas, a person should first know what is SaaS all about.
Then to understand and implement an idea becomes easier. We did in-depth research on this subject and have come up with twenty best saas startup ideas that are profitable to do in 2020.
Reasons to Start Own Software as a Company
There are a plethora of good reasons to start your business with SaaS ideas. Find some of the most significant reasons down below:
· Lower Entry Cost
The software as a service businesses are all about the software and don’t involve any hardware costs. This makes a huge difference in the initial development cost of the industry.
· Pre Calculated Costs
Unlike other industries, the costs for MVP development of SaaS product ideas is already precalculated. So each step can be more efficiently planned.
Upgrading your SaaS product is way simpler than upscaling any other kind of organization.
The biggest challenge for any industry is to keep the right maintenance system of its services. However, in software startups, your software maintenance is the responsibility of the software provider. You can relax and order them to do the needful.
· Worldwide Access
The demand for SaaS businesses is so high because of its great reach to the audience. Unlike traditional business, the software is placed on a cloud. This makes it accessible to any person from all across the globe.
Coming Up with New SaaS Ideas
The foremost step in starting a startup is to have brilliant SaaS ideas that are practical and workable. The fundamental way to search for an idea is by identifying faulty systems and problems in your surroundings and the world. Wherever there is a problem, there is a possibility of new solutions.
Check out the given pointers that may help you to find out some profitable SaaS ideas.
· Evolving Markets
The trend of becoming online has become prevalent in almost all societies. But there are certain markets that are still left out due to their own challenges of money or limited knowledge. You can start your search with these outdated markets. You can find many suitable saas product ideas that can start your business by evolving their market.
· Find Your Expertise
Many times people start with ideas of SaaS startup with the field they are good at. For instance, Bill Gates was a technical guy and hence started implementing ideas in his own niche that made him so successful. If you are yourself good at something, it is always a potential prospect to turn it into a business.
Just like when you turn to your friends and family for personal problems., you can take a piece of their mind in this aspect. You never know, from where a good idea can drop.
· Researching Online
As the research is about ideas for SaaS, you will get plenty of good ideas on the internet. Like this article that you are reading is a product of the internet. It will further guide you with the best saas startup ideas you can go with.
20 Startup Ideas for Your Business Prospects
After a detailed research process, we have come up with the top twenty product ideas for SaaS startups. We will share the problem, solution, demands, competition, and investments for these saas business ideas. It will help you to make an efficient decision on the type of startups you want to begin.
1. Marketing Automation
In this current technological era, every company wants to be ahead of others. To do so, online marketing is the most efficient technique. A tool that can automatically analyze the statistics and make marketing strategies is the need for every organization.
2. CRM SaaS for Freelancers
CRM is one of the SaaS ideas that are most profitable in today’s time. The online market is ever-expanding, and maintaining the needs of the customer is becoming challenging. By automating the process, results will become better.
3. Video Rendering
One of the best SaaS business ideas right now is developing your own video rendering service. From designers to video editors, everyone struggles to render out their files with perfection. Developing software for them is one of the great SaaS startup ideas.
4. KPI Tracker
The need for KPI SaaS product ideas is immense as it can highly impact the performance of an organization. Automated software will be a great help in increasing the organization’s productivity.
Telehealth SaaS ideas are trending these days due to their high demand. This profitable idea for SaaS involves getting medical services over the phone using the software. MDLive, PlushCare, and LiveHealth are best telehealth apps generated based upon these SaaS product ideas.
6. Team Communication
One of the most demanded software in modern-day organizations is a single platform for team communications. You can create the software against team communication SaaS business ideas that consist of chatting and collaboration options for the team.
7. One-Click Credit
With the growth of internet businesses, the need for safe and secure payment platforms have also risen. One-click credit portals are wonderful SaaS ideas that can make your business boom in a short time. They offer an account for every user in which the ledger keeps maintaining. The user can pay the amount at the end of the month for his purchases.
8. Social Media Posts
The reach of social media is enormous in today’s time. People have made good earnings through them. An automatic post scheduler is a fantastic SaaS idea that can be highly profitable for you.
9. Health Check
A health check business app is amongst the best economical SaaS business ideas. It involves notifying the users about their scheduled appointments with the doctor. Also, it can feature automated suggestions for patients considering their health records. Check out some of the HIPAA compliant apps that are based on similar SaaS product ideas.
10. Blockchain Invoicing
Blockchain systems are the latest trends that will soon be a part of every organization. Thanks to their fast and secure systems. A blockchain-based invoicing SaaS startup ideas have never been executed until now. This can be a game-changer for your business.
11. Auto Parking
Finding a parking spot, especially in busy hours, can be a frustrating process. One of the profitable SaaS ideas is to make an app that will guide you with easy parking process.
12. Technology Skills
One of the biggest profitable SaaS ideas you can implement is developing an app that enhances the technical skills for job seekers. Organizations consistently need people that have good skills, and your app can fulfill that.
13. Appointment Management
Meetings are a crucial aspect of any business. It can be hard to manage the timings for meetings for an established business. So an automated software that can manage meeting timings and follow up on requirements is a great idea for Saas business.
14. Content Planning
Content is the king in the game of digital marketing. Every successful business is relying on it. Keeping track of content and regularly updating it is a significant part of the game. Content planning software can be one of the highly successful SaaS startup ideas.
15. Cloud ERP System
Developing a single platform-based software for HR, finance, and planning departments is amongst trending profitable Saas ideas. It will help to efficiently handle the accounting tasks with an analytical perspective and better functionality.
This is one of the most common yet profitable SaaS ideas that have the potential to derive plenty of business. It can have a target audience from a personal level to small enterprises. It can be used for managing your personal, business, and banking accounts with tax calculations to make them easier. It is a good business idea for developing a new SaaS.
17. Pre Payment Auditing with AI
This is one of the SaaS startup ideas that is ideal for small and large enterprises. It involves the extraction of information on parameters like currency amounts, terms, rates, and other data from all your clients. It will validate the records and then further pass on to the payment process.
18. Automatic Information Capturing
Auto capturing the required information with graphics from particular websites can save the work of a designer. Amongst many profitable SaaS ideas, if this idea becomes a reality, then it can start a market itself with you being the leaders.
19. Detailed Pricing Plans
There are thousands of services that we can buy over the internet. However, finding all information on the pricing for different services is complex. SaaS business ideas that can make software to elaborate on the pricing plans of different services is a need for consumers.
20. Capital Management
Amongst many good SaaS ideas, the idea of starting the software for capital management still stays significant. It can eliminate the frustration of maintaining employee records. Also, it will be helpful in managing the payroll system with all its complexities.
Learn more about saas product ideas.