Software as a Service or SaaS is indeed the one of the fastest growing businesses today, as more and more players, including software industry giants, are jumping into the SaaS vendor bandwagon. This is because they have sought the importance of on demand applications as excellent alternative to traditional on premise software tools. Nowadays, SaaS does not only cater to small and mid-sized businesses, but large companies are seeking for it as well. Thus, these sudden shifts in software development strategy pose as a threat to SaaS pioneers. This is not actually something new in the world of sales and marketing. Competition gets even tougher when consumers have more options to choose from, and the best solution provider of course will remain standing.
The quest to dominate the SaaS market is still ongoing, especially now that Microsoft, IBM, Oracle and SAP, have joined in to provide better service solutions. The advantage of these companies is that they have the resources to come up with SaaS software applications with a wide range of functionalities, as compared to leading SaaS vendors such as Salesforce. This market opportunity has paved the way for the development and implementation of innovations and breakthroughs to the SaaS industry, making it more convenient to expecting consumers.
With such challenge imposed by additional software vendors, SaaS pioneers must consider reinventing their own application, not only to better serve their current subscribers, but attract new ones as well. Large software industries may have the technology, but SaaS pioneers have their own track records and experience as they have fully established the significance of SaaS for the past years. It is a must to revisit strategies and perform best practices that continue to have an appeal to the SaaS market.