The SaaS industry has redefined how global companies and organizations deliver and use software. Businesses are beginning to realize that platforms like monday.com are not just tools but entire ecosystems, allowing them to break down internal silos and create workflows that span departments and teams.
As we settle into 2024, I want to share my thoughts on where this dynamic industry is heading. You’ll notice that these trends aren’t brand new, but I think we’ll see significant progress in these areas over the next year.
AI-driven automation
This shouldn’t be a surprise based on the momentum we saw in 2023. AI isn’t going anywhere, and in 2024, AI will continue to take a more prominent role in workers’ day to day, augmenting their abilities in different ways.
AI will enable workers to effectively handle their work by eliminating repetitive tasks and letting AI technology fill the gaps. For example, an IT worker can automate classifying tickets – this is something they know how to do, but outsourcing this routine task to AI will free up the worker’s time to focus on more creative areas or tasks that demand a human touch.
It will also allow employees to explore new tasks they didn’t have time to do beforehand, including new skills now available due to AI. For example, AI is fantastic at extracting insights from long-form or unstructured data, tagging it, and making it easily accessible for decision-making – which can be applied to a task like support tickets, and it’s a game-changer.
These changes will result in more imaginative work, ultimately leading to better service and value to customers. In some industries, it will even set a new standard – like customer support, for instance- in which AI will create a new baseline for agents’ response time and quality of answers, which can lead to more satisfied customers.
Platforms over point solutions
IT leaders will increasingly prefer platforms over point solutions. They realize the former empowers end users to adjust the software to their needs, which supports the constant adjustment of work processes in the time of the distributed workforce. There will be an increase in the ‘build your own solution’ mentality, prioritizing ownership and maintenance by departments vs. a centralistic one, which presents a competitive edge.
We’ll also see cultural benefits driven by end-to-end platforms – like, better connectivity that translates to better collaboration and communication and less organizational silos. Companies will discover that platforms have ‘no limits’ and can address broader organizational needs for extended periods.
Prioritizing the SaaS experience
IT leaders and workers will look for solutions with significant impact, prioritizing the ease of adoption and fast time to value. This will ultimately lead to higher usage due to better experience, resulting in greater value from the same products already in a company’s tech stack.
Digitization is a part of this movement, and the momentum isn’t slowing down. Companies will continue searching for ways to make their work more effective in this ‘budget-aware’ era. Everyone, from small businesses to large organizations, will seek to achieve more with less through technology.
The SaaS industry has made significant strides in recent years, and that momentum isn’t slowing down. Organizations, from startups to legacy companies, are beginning to realize that adopting the latest technologies is no longer an option but essential to business growth.
I’m excited about where the industry is going, and I can’t wait for you to see what monday.com has in store for our customers in 2024.
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