SaaS Product Development: A Guide to Making Money Through a Software as a Service Model

Are you looking for a robust business model relevant to the IT industry to generate revenue passively? Then the SaaS business model will be the perfect plan for you. If you are not aware of this kind of service, here is the guide.

Through this blog, you can check SaaS product development, how you can avail a custom SaaS product, and ways to earn money through them. Let’s get into the blog now.

What is Meant by a SaaS Product?

When talking about IT solutions, the term “as-a-service” is inevitable. IT solutions can be classified as products and services. In simple words, products are IT assets that can be avail by paying a single-time payment. Services can be identified as IT solutions that demand a subscription fee for a particular period to use. Beyond these simple definitions, there are many technical explanations to distinguish the Product-based businesses and Service-based businesses.

The most common service-based solution (as-a-service) is SaaS (Software as a Service). In the SaaS model, a particular software has been made available for the users who avail of it by paying a proper subscription or premium amount. That software is known as a “SaaS product”.

We are using some freemium SaaS products frequently; they are Google Apps, DropBox, etc. These are great examples of SaaS products. Usually, a SaaS product is delivered through a cloud platform. So, the majority of SaaS products are not intimate for you to install any other files.

Accessibility, endless integration, data security, and detailed metrics/ tools to process data are the primary focus of a SaaS product. However, each type of SaaS product has a different kind of tool, and the vision depends on its purpose. To know more about SaaS product development, you need to explore the types of SaaS products.

Types of SaaS Products That You Can Avail

Anyone can avail of SaaS products from SaaS businesses/providers. At the same time, anyone can get their custom SaaS product that is specially designed for their needs from a software and app development company.

Custom SaaS products have unique tools that have a high potential to resolve the users’ difficulties in the online software platform. However, based on the purpose, SaaS products can be classified into the following types.

• Customer Relationship Management Software – Through this CRM SaaS product, the user can automate the sales, marketing, and customer data management process easier.

• Enterprise Resource Planning Software – It is usually known as ERP software that helps businesses to manage their day-to-day business activities.

• Project Management Software – It is a kind of software that is used in project management in planning, scheduling, resource allocation, and others.

• Billing Software – As the name suggests, it is software that helps to generate invoices, track payment receipts, and others.

• Collaboration Software – This software, helps companies to manage groups to collaborate, share, communicate and work together.

• eCommerce Software – The system which helps businesses to run and manage online stores.

These are the common types of SaaS products that you can avail yourself of from an app development company. Beyond these, SaaS products can be categorized into two types. They are,

• Vertical SaaS Product,
• Horizontal SaaS Product.

You need to know about these classifications before choosing a SaaS product development company to get a custom SaaS product. Let’s check the differences between the vertical SaaS and horizontal SaaS products.

Difference Between Vertical SaaS and Horizontal SaaS Product

Checking differences between the vertical SaaS and horizontal SaaS products will help you to avail the perfect type of product for your use. Vertical SaaS means software that is crafted to fulfill the aim of a niche user segment. That means it has highly unique features and tools to complete specific requirements only.

• On the other hand, vertical SaaS refers to the IT products that aim to provide solutions for a wide range of users with general objectives. Simply, it can fulfill the common requirements of multiple industries instead of focusing on a particular industry.

• Horizontal SaaS can be considered a mass-market solution as it can provide service for multiple ranges of users. Meanwhile, the vertical SaaS can be identified as a niche-market product as it is focused on specific users.

• Most common examples of horizontal SaaS products are office 365, salesforce, QuickBooks, etc. SAP Business by design, Veeva, and Guidewire are common examples of vertical SaaS products.

• The common goal of horizontal software is sales and marketing to boost lead generation and customer satisfaction. The vertical software is having low efficiency in lead generation. Instead, it can do and manage the industry-specific standards and requirements properly.

However, both are very useful, only if users know their specific needs. That means be clear on your needs before choosing the right type of SaaS product.

How Can You Earn Money Through a SaaS Product?

Here is the guide to making money through a SaaS product. It is a crucial part if you decide to avail a SaaS product to generate revenue.

As per the aforesaid statement, you can get a custom SaaS product from a software and app development company by paying a single-time payment. Generally, you can avail of such SaaS products for your existing business or to provide SaaS services to other firms.

For example, if you are running a retail business, you can get custom SaaS products like CRM software, ERP software, billing software, etc to optimize your business. By doing this, you can automate your business process to provide high-end customer satisfaction and service, and also for proper documentation process. It makes your business profitable and productive.

On another hand, you can buy a SaaS product to launch it as your service to other firms. That means you need to approach a white label SaaS product development company. Then avail of a custom SaaS product. And launch it through your cloud platform to your clients by collecting a subscription amount from them.

So, without any technical experts, you can easily get a SaaS product and get a regular subscription from it by availing a white label SaaS product.

Uplogic Technologies can produce such capable white label SaaS products. Through this, you can be a SaaS provider in the market and get more clients to earn regular passive income. We also provide web applications to be the front of your SaaS product.

In simple words, we can support entrepreneurs of IT or any other industry by providing custom white label SaaS products.

To Sum Up

By availing of white label SaaS products, you can launch your SaaS business in the market. Also, it can be used for your business. From Uplogic Technologies, you can get robust custom SaaS products that can support your revenue in all aspects.

By choosing our service, you can support your SaaS users to access the software through a web app interface. Our experience and expertise in the software development field is the factor that shows our reliability and credibility in custom SaaS product development that can help your SaaS business development idea.