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The way startups build and innovate changes every year. If you look back at just 20 years, 10 years, or 5 even years ago – the way startups work and innovate has dramatically changed.
As the way startups innovate changes so do the tools and resources available to startups. Over the last 2 or 3 decades, SaaS (software as a service) products have continued to grow and take over the technology landscape.
Related Resource: The SaaS Business Model: How and Why it Works
Learn more about SaaS products and how they can build your business below:
What are SaaS products?
SaaS is short for software as a service. Salesforce, oftentimes considered one of the original SaaS companies, explains it as, “Instead of installing and maintaining software, you simply access it via the Internet, freeing yourself from complex software and hardware management.
SaaS applications are sometimes called Web-based software, on-demand software, or hosted software. Whatever the name, SaaS applications run on a SaaS provider’s servers. The provider manages access to the application, including security, availability, and performance.”
Before SaaS products, it required companies to buy expensive hardware and have a physical location for employees to access their software. With SaaS products, any employee with internet can access their software from anywhere in the world.
Related Resource: 20 Best SaaS Tools for Startups
Learn more about the benefits and types of SaaS products below:
Why should startups use SaaS products?
At this point, it is assumed that most, if not all, startups are leveraging SaaS products to build their company. SaaS products enable employees to access their software and tools from anywhere across the globe. Because of this it enables remote work and allows startups to hire the best talent anywhere on the planet.
Additionally, SaaS products are robust and can be tailored to just about any business. This allows teams to build, communicate, and automate quicker than ever before. It also allows for teams to get set up and use a new tool quickly — in the past, this would be a long process that could take months but now can be solved in a quick onboarding or upload.
Learn more about the specific benefits of leveraging SaaS products for your business below:
Benefits of SaaS products
We’ve alluded to the benefits of SaaS products throughout this post but there are a few key benefits that are especially worth mentioning:
Save time with automation
One of the biggest benefits of SaaS products is pure time save. Software products can take manual tasks and turn them into an automated process that can save countless hours.
Cost efficiency
Another major benefit of SaaS products is cost efficiency. Most SaaS products offer tiered pricing and annual discounts that can lead to huge cost savings for startups. As more startups implement SaaS tools the pricing and plans have evolved to help scale with companies as they grow.
Easy integration
Another benefit of the explosion in SaaS products is the integrations and the ease to set them up. Most companies will have a somewhat similar tech stack so there are natural integrations that have evolved that will help startups connect existing tools and automate even more processes. You can also check out tools like Zapier that help connect SaaS products.
Remote work
SaaS products only require access to the internet. Because of this, employees can work from anywhere. This might help enable a remote or hybrid work environment and allow employees to work from home or on the fly.
Top SaaS Products for Startups
As we’ve continued to mention, SaaS products and companies have exploded over the last few decades. Because of this, there are thousands of SaaS solutions to help common business problems. Learn more about some of the top and most popular SaaS products below:
Team collaboration
As more tools move to the internet, being able to collaborate with colleagues is a must. Team members need a place where they can comment, plan, and collaborate on ongoing projects. Team collaboration tools can be fully dedicated or built into existing tools (e.g. leaving comments on a Google Doc).
Learn more about some of the popular team collaboration tools and resources below:
Project Management
Going hand in hand with team collaboration tools are project management tools. Project management tools stay on top of any ongoing projects within your team. These tools are incredibly valuable in every aspect of the business building but especially when it comes to marketing and product teams.
Marketing teams can use project management tools to stay on top of their marketing campaigns and efforts — for example, tracking everything from initial copy and inspiration to performance and tweaks. For product teams, project management is extremely important because it keeps the team on the same page throughout the development process.
Learn more about some of the most popular project management tools below:
Marketing and social media
A marketing and social media tool is table stakes for most startups. Email marketing, blogs, videos, social media, etc. make up most modern-day marketing tools. Having a place to manage and publish your different marketing efforts is a must. There are some tools that cover every aspect of marketing. On the other hand, there are dedicated tools that will help in specific areas of marketing (e.g. Buffer for social media posting).
Learn more about popular marketing and social media tools below:
Accounting
Accounting and bookkeeping is another area that has been improved by software products. Accounting tools allow individuals that might not be an expert in accounting to get a good understanding of their financials. On the other hand, accounting tools can also be built out and robust enough for finance professionals.
Learn more about popular accounting software below:
Customer Service
As your company grows staying on top of your customer service is a must. Luckily there are hundreds of software tools dedicated to helping with customer service. Like marketing tools, there are some that will cover every aspect of customer service. There are also dedicated tools that will help with different aspects of your customer success efforts — e.g. knowledge base, email support, etc.
Learn more about popular customer service tools below:
Customer relationship management
Customer relationship management (or CRM) has turned into a must for most startups. CRMs are the hubs for managing communication and progress with current and potential investors.
Customer relationship management tools generally offer add-ons and additional features that will help with other areas of your business. This can be helpful when it comes to cutting costs and finding a simple solution for your employees.
Related Resource: 7 Essential Business Startup Resources
Learn more about popular CRMs below:
Content management system
As software and tools have moved to the internet so have most businesses in general. Even if a business does not sell to customers directly via the internet, chances are they have a website. Having a place to manage your website and the content you are producing is a must. Content management systems (CMS) have become table stakes for any business that has a website and produces any level of content.
Learn more about popular content management systems below:
Human resources management
As a startup founder, it is vital to stay on top of your employees and team members. Startups are in constant competition for both capital and talent. It is crucial to have a human resources management system in place to keep employees happy and supportive.
Learn more about popular HR resources below:
Payroll and benefits
As we mentioned above, startups need a system to engage with their employees. One of the aspects of successful employee onboarding is having tools in place to help with payroll and managing benefits. As SaaS payroll and benefits tools have become increasingly common, the options are countless.
Learn more about popular payroll and benefits tools below:
Investor relationship management
Startups are in constant competition for 2 resources — capital and talent. Having a game plan in place to attract both is vital. If you’re a startup that has taken on outside funding it is important to have a game plan in place to report and communicate with your investors. This will not only improve your odds of raising follow-on funding but will allow you to lean on investors for help with hiring, strategy, and more.
Investor relationships and communication are our bread and butter at Visible.
Related Resources:
- The Understandable Guide to Startup Funding Stages
- Valuing Startups: 10 Popular Methods
- 23 Top VC Investors Actively Funding SaaS Startups
Boost your startup’s investor relations with Visible
Adopting SaaS tools for your startup is a surefire way to build efficiency around every aspect of your business. In order to best tap into your investors, you need a tool in place to communicate and report to your investors.
Give Visible a try to up your investor relations. Raise capital, update investors and engage your team from a single platform. Try Visible free for 14 days.
