Gartner projects that global end-user spending on public cloud services will top 480 billion USD in 2022. Software as a service (SaaS) spending alone will account for more than a third of that. SaaS, or on-demand software, is a software delivery model that has steadily gained popularity in recent years. Through the model, customers purchase a licensed subscription, giving them access to the program, which is a vital part of the SaaS business landscape.
An SaaS tool is typically cloud-based and hosted, meaning users generally don’t need to download and install the program. This offers convenience, given that users can access the platform from anywhere with an internet location, usually through a drag and drop editor. These tools are also accessible, flexible, maintainable, secure, and easy to use. They’re critical for businesses of all types, complementing other project management tools.
SaaS is one of the most popular cloud technology services, although it’s not the only one. Many businesses have invested in the technology for a variety of purposes—and with good reason. So, if you’re working on your tech budget for the new year, make sure you include these top SaaS tools, like SaaS reporting tools, to help you streamline your operations and make your organization more productive.
Benefits of SaaS Tools
There are numerous benefits to using SaaS tools. They include:
Cost
The cost of the subscription is clear upfront. Businesses don’t need to pay hefty installation fees, and they can just choose the plan that works best for their needs. Usually, it’s easy to scale your subscription plan should you want to, often in just a few clicks. Many platforms offer a free trial, too.
Access
Because the software is hosted on the cloud, users can access it from anywhere with an internet connection via a variety of devices and mobile apps. Whether users are at home, in the office, or out of the country, they will be able to use the program through platforms such as Microsoft Teams.
Customization
Many SaaS services, including custom SaaS solutions, offer add-ons and other features that allow you to customize your product according to the specific needs and wants of the business. In fact, even setting it up from the get-go, you can adjust the settings of these custom SaaS solutions based on your preferences.
Security and Maintenance
SaaS software is hosted by the vendor, and that means straightforward and reliable maintenance and security, keeping your data protected. The vendor will also push out automatic updates to keep your platform running smoothly and efficiently, as well as address bugs and other problems.
SaaS Tools Categories
Accounting
Accounting software keeps track of your cash flow in one central, cloud-based place. From invoicing to fee notifications, there are many nitty-gritty money-related tasks that are streamlined via services like FreshBooks and QuickBooks. Businesses can automatically set up payments, view dashboards presenting visualizations of expenditures, and more.
Collaboration
Whether colleagues are in the office or working remotely, collaboration is a critical component of day-to-day and longer-term operations. These tools allow people to check in and send quick messages without having to write out long, formal emails and can often be used to automate business processes. Employees can seamlessly share files, organize content, and keep one another apprised of their efforts. They can also ensure that small groups or wider audiences have access to what they need to see.
Customer Relationship Management (CRM)
Businesses are increasingly turning their attention to enhancing relationships with existing customers, as opposed to exclusively attempting to attract new consumers. CRMs are ideal for nurturing these relationships. Not only do they store information about clients, but they also present insights, such as meaningful interactions with the brand.
From there, businesses are better equipped to personalize communications, recognize when they need to make efforts to get customer feedback, build relationships, and more.
Customer Service
Customer support is vital to sustaining a business, and today, there are several SaaS tools to field queries, respond to critiques, and otherwise provide assistance to users. SaaS programs like Zendesk and ProProfs Chat incorporate chatbot technology, which allows organizations to respond to individuals automatically, without the intervention of a human professional, making communication quicker and business processes more efficient.
Marketing
Marketing encompasses a huge range of efforts and segments. Hootsuite, for example, streamlines social media management tools efforts, allowing businesses to schedule posts, see a big-picture view of their strategy and history, review analytics through Google Analytics, and much more.
Hootsuite streamlines social media marketing efforts, allowing businesses to schedule posts, see a big-picture view of their strategy and history, review analytics, and much more. Mailchimp is specifically for email marketing, enabling organizations to craft newsletters, store and use media, and track performance, among other key features.
There are a number of free marketing tools that offer great value without having to spend any money.
Project Management
Dedicated project management software and tools are pivotal for a successful undertaking. Using SaaS software like Asana, Basecamp, Proofhub, and Trello, project managers, and team members can keep track of deadlines, share important documents, view progress and timelines, assign tasks, and so much more.
Sales
Several years ago, companies like Square and Stripe revolutionized the very nature of payments and transactions. Now, businesses and individuals across industries can accept credit cards and other payments from virtually anywhere, whether you’re selling goods at a conference or conducting a virtual transaction from a remote location. Payments are secure and highly efficient.
Video Conferencing
Last but certainly not least is video-conferencing software. This probably comes as no surprise — in light of the pandemic, businesses all over the world quickly adopted communication platforms to stay in contact with employees, clients, and business partners. Zoom emerged as the most popular of these platforms, and while it continues to be the most widely used, it’s far from the only one on the market.
19 Best SaaS Tools
#1 FreshBooks (Accounting)
FreshBooks is a cloud-based accounting software designed for small businesses and freelancers. It simplifies financial tasks such as invoicing with expense tracking and financial reporting.
Unique Features
FreshBooks allows users to create and customize professional invoices with their branding to accept online payments and send automated payment reminders. Users can easily track and categorize expenses. You can also capture receipts using a mobile app and generate expense reports for better financial management.
FreshBooks offers built-in time tracking functionality which allows users to track billable hours and seamlessly generate accurate invoices. The software provides various financial reports including profit and loss statements with balance sheets and tax summaries to gain insights into business performance.
#2 QuickBooks (Accounting)
QuickBooks is a widely used accounting software that caters to small and medium-sized businesses. It offers comprehensive features for managing finances like invoicing with expense tracking, inventory management, and tax preparation.
Unique Features
QuickBooks provides a wide range of accounting features including invoicing with bill payment along with financial reporting and tax management. Users can create and customize professional invoices with their company logo and personalized messages.
QuickBooks offers inventory tracking and management capabilities enabling businesses to track inventory levels along with managing purchase orders and generating reports. QuickBooks integrates with numerous third-party apps such as CRM software and e-commerce platforms to streamline business operations.
#3 Bit.ai (Collaboration)
Bit.ai is a documentation platform that allows teams to create, share, and collaborate on documents, notes, and knowledge bases. It provides a centralized workspace for teams to work together by storing information and streamlining collaboration.
Unique Features
Bit.ai’s smart documents enable users to create interactive and dynamic content by embedding rich media such as videos, images, and live data. Multiple team members can collaborate on documents simultaneously, thereby making it easy to brainstorm and provide feedback in real-time. Bit.ai provides a hierarchical structure to organize documents into workspaces and subfolders making it easier to find and manage content.
Users can create and maintain a library of reusable content, templates, and assets, thereby improving efficiency and consistency across projects. Bit.ai allows users to track document engagement such as views and time spent provides insights into audience engagement.
#4 Hubspot (CRM)
HubSpot is a customer relationship management (CRM) platform that provides a suite of tools to manage and nurture customer relationships. It offers features for sales with marketing and customer service, thus enabling businesses to streamline their customer-centric processes.
Unique Features
HubSpot allows users to store and manage customer information with the tracking of interactions and segmenting contacts for targeted marketing campaigns. The CRM offers visual sales pipelines that enable sales teams to track deals and prioritize leads for efficient sales management. Marketing performance can be tracked by businesses through the use of HubSpot’s automation features that allow them to automate lead nurturing and create specialized email campaigns.
Providing businesses with a way to manage customer support inquiries and track issue resolution, HubSpot’s CRM includes a ticketing system and help desk. Through the platform, it’s possible to track sales performance and customer interactions using a range of analytics and reporting tools.
#5 Salesforce (CRM)
Salesforce is one of the leading customer relationship management (CRM) platforms that helps businesses manage their sales with marketing and customer service. It offers a range of features and tools designed to improve customer engagement by streamlining workflows and driving sales growth.
Unique Features
The CRM instance in Salesforce can be tailored to meet the unique needs of each company using it. It provides a flexible and powerful foundation that can be adapted to the needs of businesses of any size and in any sector.
Salesforce also features robust tools for lead and opportunity tracking, as well as sales process automation. The marketing automation features included into the CRM facilitate the tracking and nurturing of leads for a highly focused marketing campaign.
Salesforce’s customer service module is aimed to improve support and satisfaction. It includes case management, knowledge base management, and self-service portals. Businesses may link Salesforce with other systems and applications to improve data flow and automate operations thanks to Salesforce’s extensive ecosystem of third-party connectors and add-ons.
#6 Zoho (CRM)
Zoho CRM is a cloud-based CRM platform that helps businesses manage their sales and customer service along with marketing. It provides a suite of tools and features designed to streamline customer relationship management processes and improve overall efficiency.
Unique Features
Zoho CRM allows businesses to track and manage leads and contacts throughout the customer lifecycle by providing a centralized database for customer information. The CRM offers visual sales pipeline management to allow the sales teams to track deals to monitor progress and forecast revenue. Zoho CRM includes automation capabilities that enable businesses to automate repetitive tasks to streamline workflows and improve productivity.
Zoho CRM provides email marketing features that allow businesses to create and execute targeted email campaigns then track engagement and analyze campaign effectiveness. The CRM offers built-in analytics and reporting tools that provide insights into sales performance along with lead conversion rates and other key metrics.
#7 ProProfs Chat (Customer Service)
ProProfs Chat is a live chat software that enables businesses to provide real-time customer support and engage with website visitors. It offers a range of features designed to enhance customer service, increase customer satisfaction, and improve overall user experience.
Unique Features
ProProfs Chat allows businesses to engage with website visitors through live chat and messaging thereby enabling real-time communication for instant support. The software supports chatbot integration that allows businesses to automate customer interactions and provide quick responses to frequently asked questions.
ProProfs Chat includes co-browsing and screen sharing capabilities that enable the support agents to assist customers by navigating web pages together and visually guiding them. The software integrates with knowledge base platforms to allow support agents to quickly access relevant information and provide accurate responses to customer queries. ProProfs Chat provides reporting and analytics features, offering insights into chat volume and response times.
#8 Zendesk (Customer Service)
Zendesk is a cloud-based customer service platform that helps businesses manage customer interactions and support requests. It provides a range of tools and features to streamline customer service processes to improve customer experience with response times and enhance customer satisfaction.
Unique Features
Zendesk enables businesses to track and manage support tickets thereby ensuring that customer inquiries and issues are properly documented and addressed. The platform allows businesses to provide customer support across various channels to ensure a seamless and consistent support experience. Zendesk offers a knowledge base feature that enables businesses to create a repository of frequently asked questions with help articles and resources to allow the customers to find answers on their own.
The platform also includes automation capabilities to streamline repetitive tasks and workflows thus increasing efficiency and reducing manual efforts. Zendesk provides reporting and analytics features offering insights into support team performance along with customer satisfaction metrics and response times.
#9 Hootsuite (Marketing)
Hootsuite is a platform for managing a company’s presence across numerous social media networks. Hootsuite also allows you to monitor multiple accounts at once. Hootsuite is quite popular as using Hootsuite makes analyzing social media campaigns easier. You can also interact with target audiences.
Unique Features
Hootsuite allows organizations to save time and guarantee uniform content distribution by scheduling and publishing social media posts across numerous platforms. By providing a centralized spot for all of a company’s social media presence. This makes it simple to access and distribute as the platform acts as a virtual content library.
Companies can listen in on online conversations about their brand or any topic of interest by following mentions and hashtags with Hootsuite. It also includes reporting and analytics tools to monitor social media activity and gauge the success of a company’s social media marketing campaigns.
#10 Mailchimp (Marketing)
Mailchimp is an all-in-one marketing platform that offers email marketing with a marketing automation tool for audience segmentation and campaign management. It is designed to help businesses create and execute effective email marketing campaigns and engage with their audience.
Unique Features
Mailchimp’s automation tools let businesses schedule automatic email sequences in response to certain client actions such signing up for a newsletter or abandoning a shopping cart. The tool helps organizations create targeted and personalized email messages by dividing their audience into subgroups based on factors like purchase history and engagement levels.
Creating unique landing pages for lead generation or targeted marketing campaigns is a breeze with MailChimp’s drag-and-drop landing page builder. Businesses can connect their marketing stuff with other tools and systems thanks to Mailchimp’s compatibility with a wide variety of external applications such as e-commerce platforms, customer relationship management systems, and content management systems. The platform’s reporting and analytics tools make it possible to monitor things like audience engagement and clickthrough rates.
#11 Asana (Project Management)
Asana is a project management tool that helps teams organize and manage their projects and workflows. It offers a range of features designed to increase collaboration by improving productivity and efficent tracking of project progress.
Unique Features
Team members are able to collaborate more effectively by using Asana’s centralized platform for generating and assigning tasks and the ability to prioritize assignments. Kanban-style boards allow teams to get an instant snapshot of the current state of their projects’ various tasks. Within Asana teams are able to interact and collaborate thanks to tools like file sharing with comments and notifications.
The platform’s timeline view facilitates the establishment of relationships between tasks and the creation of a visual representation of the project’s development through time. Through these integrations Asana is able to expand its capabilities and link project management with other workflows such as communication platforms and document management systems.
#12 Basecamp (Project Management)
Basecamp is a project management and team collaboration tool that allows teams to centralize project communication with task management and file sharing. It aims to streamline project management tools and workflows and keep teams organized.
Unique Features
Basecamp acts as a central hub for teams to organize projects with their tasks and discussions. It also includes a message board feature where teams or individuals can put up updates with data and interact in project-related discussions consequently ensuring transparent and accessible conversation. Basecamp offers to-do lists that allow teams to create and assign duties and track progress to make sure that everyone is at an identical pace.
Basecamp enables teams to upload and share files and media to ensure easy access and collaboration on project-related materials. Basecamp also allows teams to schedule automatic check-ins where team members can provide status updates or flag any issues or concerns.
#13 ProofHub (Project Management)
ProofHub is a project management and team collaboration software that helps businesses streamline their projects and communication. It provides a centralized platform for project planning along with task management and file sharing.
Unique Features
ProofHub allows businesses to create project plans while defining milestones and setting deadlines to ensure clarity and alignment on project goals and timelines. The platform provides a visual task management interface to allow businesses to create tasks and assign them to team members and track progress.
ProofHub offers a feature for reviewing and proofing documents and designs along with facilitating collaboration and feedback among team members and clients. The platform includes features like discussions and real-time group chat thereby enabling teams to share updates and communicate effectively. ProofHub offers Gantt charts that provide a visual representation of project timelines and progress by helping businesses with project scheduling and resource allocation.
#14 Trello (Project Management)
Trello is a flexible project management software and collaboration tool that uses boards, lists, and cards to organize and track tasks and projects. It provides a visual and intuitive interface that helps teams manage their work effectively.
Unique Features
Trello uses a Kanban-style approach, allowing teams to create boards and cards to represent tasks and projects by providing a visual representation of workflow and progress. Teams can customize Trello’s boards and lists to match their specific workflow and project management needs. You can also adapt the tool to different project methodologies. Trello includes features for team collaboration such as file attachments and task assignments facilitating communication and information sharing.
Trello integrates with various third-party applications by allowing teams to connect their project management workflows with other tools and systems. Trello offers automation features and power-ups which are add-ons that extend its functionality to enable teams to automate repetitive tasks or add additional features to their boards.
#15 Square (Sales)
Square is a comprehensive sales and payment processing platform designed for businesses of all sizes. It provides tools for accepting payments while analyzing sales data and creating customized point-of-sale solutions.
Unique Features
Square facilitates the acceptance of credit and debit card payments by merchants. With their cash registers and mobile point-of-sale systems businesses can design unique checkout processes to attract customers.
Square also provides tools for managing stock levels that help businesses keep tabs on their supplies. These functions also help manage purchase orders, which is crucial for accurate stock monitoring. Square’s reporting and analytics tool shed light on important business metrics like inventory turnover and sales volume. Square’s connectivity with e-commerce platforms makes it easy for businesses to integrate their physical and online sales and payment processes.
#16 Stripe (Sales)
Stripe is an online payment processing platform that allows businesses to accept and manage payments securely. It offers a suite of features designed to handle online transactions and complex payment flows.
Unique Features
Stripe facilitates the acceptance of payments from several payment methods like digital wallets and credit/debit cards for online merchants. They provide businesses with the means to manage the trial periods and prorated prices associated with subscriptions.
With Stripe’s powerful application programming interface (API) and developer tools organizations are able to seamlessly integrate Stripe’s payment processing capabilities into their own websites or applications. To safeguard companies and their consumers from fraudulent activites Stripe provides in-built fraud prevention techniques and security features which includes machine learning algorithms and superior encryption.
#17 Google Meet (Video Conferencing)
Google Meet is a video conferencing and collaboration tool developed by Google. It allows users to host and join virtual meetings through audio and video calls and share screens along with documents in real-time.
Unique Features
Google Meet provides high-definition video and clear audio quality that ensures smooth communication during meetings. The platform allows users to share their screens that makes it easy to present documents or videos to meeting participants. It also supports real-time collaboration on Google Docs and Slides.
Users are able to arrange meetings and join calls immediately from their calendar or email thanks to the seamless integration that Google Meet provides with other Google Workspace services such as Google Calendar and Gmail. Meetings are made more accessible with Google Meet’s real-time captioning. Participants who speak different languages can have their conversations translated in real time.
#18 Zoom (Video Conferencing)
Zoom is a widely used video conferencing and collaboration platform that enables users to host and join virtual meetings and online events. It provides a range of features designed to enhance communication and collaboration.
Unique Features
Zoom supports meetings with a large number of participants that makes it suitable for webinars and virtual conferences. Users can share their screens and collaborate in real-time by conducting interactive presentations and making annotations while sharing documents.
Zoom offers breakout rooms, in which the meeting host can split participants into smaller groups for discussions or group activities and then bring them back to the main meeting. The platform provides the ability to record meetings and upload the recordings to the cloud. It also offers automatic transcription for recorded meetings. Zoom allows users to customize their video backgrounds with virtual backgrounds or apply filters which adds a touch of personalization and fun.
#19 Slack (Collaboration)
Slack is a popular team communication and collaboration platform that brings together conversations along with project updates and file sharing in one place. It provides a centralized hub for teams to collaborate so they can discuss ideas and streamline communication.
Unique Features
Slack allows teams to create channels for specific projects or topics facilitating focused discussions while also supporting direct messaging for one-on-one or smaller group conversations. Users can easily share files and media within Slack allowing for seamless collaboration and reducing the need for separate file-sharing platforms.
Slack offers a vast library of integrations with other business apps and tools, allowing users to bring notifications and updates from various sources into Slack. Slack also stores chat history making it easy to search and find past conversations and information, ensuring knowledge retrieval and continuity. With Slack’s workflow automation features, teams can automate repetitive tasks and create custom workflows to enhance productivity.
SaaS Software Is Critical for Your Business
While SaaS software isn’t the only technology a business needs to thrive, it is one of multiple tools that have become an important investment for organizations of all shapes and sizes. In the coming year, as you plan your budget and expenditures, don’t neglect these critical tools.
In order to choose the best tools for various purposes for your business—from social media to resource management to knowledge management—explore the options available. In most cases, there are numerous options per category that offer different benefits and advantages. The best approach is to explore these tools in order to find the one that best aligns with your business goals.
FAQs
How can I determine if SaaS tools are suitable for my business needs?
In order to determine if SaaS tools are suitable for your business needs, you should start by evaluating your business goals and requirements. Determine which areas are scalable, and assess which tools will help you grow. Additionally, evaluate the cost-effectiveness, and look into the different models available.
Are there any potential drawbacks or limitations to using SaaS tools?
While there are numerous benefits to using SaaS tools, there are also some drawbacks. For example, depending on the tool, customization options are generally limited. Additionally, you need to rely on the security of the SaaS provider, as well as the support they offer. This can be somewhat constraining. Moreover, to access these tools, you must have an internet connection.
How can businesses ensure the security and privacy of their data when using SaaS tools?
There are many ways businesses can ensure the security and privacy of their customer data when using SaaS tools. They can use two-factor authentication systems, for example. They should also research any vendors they are considering using and select ones with strong reputations and reviews. Researching the vendors’ security practices is vital as well. Additionally, consistently backing up your data prevents from any unforseen losses. You can also evaluate the security of in-house systems and integrations.
