Flexibility and scalability: Scalability is an essential factor when it comes to SaaS software applications. Ideally, they should have an online catalog or marketplace where customers can download the integrations they want.ģ. An easily extensible marketplace of integrations: SaaS companies make their products easily extensible either via native integrations or through open application programming interfaces (APIs) and software development kits (SDKs). This makes it easier to monitor consumption, scale up when necessary, and end subscriptions if needed.Ģ. Application hosting on the cloud: A key criterion of SaaS companies is leveraging cloud technology to deliver their software solutions. Here are five features that characterize SaaS companies in 2022.Įssential Features SaaS Companies Should Offerġ. ![]() Industry adoption of SaaS is expected to grow by 67% in the next five years as per a 2020 survey titled Understanding Your Terminal Strategy with Cloud-based Technologies by Navis, underscoring the importance of this trend. Customers also gain from the flexibility of on-demand scaling and pay-as-you-go efficiency. Increasingly, most software providers are moving to a SaaS business model as it offers predictable recurring revenues. Software as a service (SaaS) is a cloud-based application delivery and consumption model where users pay for software on a subscription basis, depending on monthly or annual usage, the number of licenses, and the features in use. Key Features of Software as a Service (SaaS) Companies
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