In the Age of Information, digital technologies have evolved to such an extent that a wealth of tools, applications, and platforms exists to enhance the way businesses operate in a number of areas.
Software as a service (SaaS) has blossomed in the last five years, and the public SaaS market is expected to grow to $76 billion by the year 2020, according to FinancesOnline.
There’s no doubt that the SaaS market has a bright and prosperous future, but with fresh innovations emerging all the time, the competition has never been more fierce.
If you’re part of a growing SaaS company and are looking to accelerate your success, leveraging the power of data is the way to gain a real competitive edge. That’s where SaaS dashboards enter the fold.
A SaaS dashboard is a powerful business intelligence tool that offers a host of benefits for ambitious tech businesses. Here, we’ll go over the benefits of SaaS technology, explore SaaS dashboard templates in more detail, glance at SaaS examples, and outline the importance of using SaaS business intelligence to develop your business.
Let’s get started.
What Are The Benefits Of The SaaS Technology?
The history of SaaS is not that long, but the numerous benefits have already been proven as quite lucrative. Here is a list of the most important ones:
1. Cost-effective alternative to traditional IT deployment
Initial setup costs of a SaaS solution is much lower than on-premise systems because you don’t need to build your own infrastructure and employ a whole IT department to maintain it. You only need to access the software through an Internet connection and decide on your subscription plan. This can be done with the help of modern cloud BI tools.
2. Speedy integration
Following the first point, the ability to develop your plan and deploy quickly will enable you to speed up your business benefits. The administration and installation processes are significantly reduced while modern SaaS tools will enable you to connect a wide range of databases in a matter of minutes.
3. Flexible and scalable solutions
The requirement to stay agile in today’s business environment is of utmost importance if you want to obtain success. SaaS tools enable you to choose the best delivery model that corresponds with your business requirements and adapt it as your business changes. The additional features provide access from mobile phones, tablets, and laptops so you can access your information and selected SaaS KPIs anytime, any place.
4. Data analysis like never before
Compiling analysis results with the help of interactive dashboards and charts is one of the main features SaaS solution can offer. The possibility to share your reports in various formats and automating the time they need to be delivered, the recipients will always have an up-to-date state of data and have the power to generate actionable insights on their own.
These are just a few benefits this technology can bring to a company, and, before we start digging deeper into SaaS examples and benefits, it’s important to consider what a SaaS dashboard is as well as what it does in a practical business setting.
What Is A SaaS Dashboard?
A SaaS dashboard consolidates and visualizes critical SaaS metrics, covering sales, marketing, finance, consumer support, management, and development to offer an unobstructed panoramic view of the SaaS business and achieve better business performance and profit.
As mentioned, SaaS (software as a service) enterprises operate in an incredibly competitive market. By working with relevant key performance indicators (KPIs), SaaS dashboards offer a user-friendly means of spotting data-driven trends, identifying strengths and weaknesses, making informed decisions, and ultimately – steering the businesses towards a bright, prosperous, and profitable future.
With so much data available in the digital age, knowing what’s valuable and what’s redundant is essential to success. A SaaS KPI dashboard will help you do just that.
“Without a systematic way to start and keep data clean, bad data will happen.” – Donato Diorio
Why Do You Need A SaaS Dashboard?
It’s clear that SaaS dashboards are invaluable to software-as-a-service businesses – like yours – looking to grow their empire and get an all-important edge on the competition. Whether you need to develop an IT report or tackle deeper into the financial analytics side of the business, a dashboard will prove its worth when you see all your data in a clean, interactive screen.
To put this into a real-world perspective, here are 4 definitive reasons why your business needs to harness the power of SaaS dashboard templates.
1) Data management
As a SaaS business, you will need to analyze colossal streams of data relating to several key business functions and activities.
While once upon a time, drilling down into various data sources was laborious and fragmented, using a SaaS KPI dashboard now enables you to work with KPIs which serve up insights that are relevant to your business. Moreover, as a SaaS metrics dashboard serves all of your data in one centralized space, you don’t need to waste time logging into different applications or platforms to source the insights you need.
Data quality, speed, and consistency in one neat package.
A SaaS metrics dashboard improves data management, but it also makes understanding your data and sharing your discoveries with key people within and outside your organizations swift and simple by offering digestible dashboard visualizations of vital insights or metrics.
A dashboard creator is a powerful tool for any modern software-as-a-service business. SaaS dashboard software is based on providing accessible visual representations of your most important information, empowering you to develop powerful, accurate strategies through data visualization that will benefit your business significantly.
In SaaS ventures, internal collaboration is critical if you want your business to scale and evolve over time.
SaaS dashboard examples are tailored and easy to navigate, and as they offer 24/7 access across a multitude of platforms, data-driven interdepartmental collaboration becomes a benefit rather than an organizational roadblock.
Companies that fail to communicate cohesively often stunt their growth and success, but if everyone within the organization can get the most from the data available to them, the business will thrive – a clear case for the use of SaaS dashboards.
Greater vision means greater growth. By gaining the ability to identify both historical and real-time trends in your data through an effective DSS system, you’ll be able to make improvements in all major areas of the business. Ultimately, this will result in continual growth.
If you can capitalize on your strengths and minimize your weaknesses, you’ll be able to get ahead of the SaaS pack while scaling steadily over time. SaaS dashboard software is the very vessel for you to achieve or even exceed your goals on a consistent basis.
Our SaaS Dashboard Example
SaaS dashboards offer a wealth of benefits, and now that you understand them on a deeper level, it’s time to explore a real-life SaaS dashboard example.
Our executive SaaS dashboard template is interactive, intuitive, and features a balanced mix of KPIs that help with the successful management of all key software-as-a-service business departments, functions, and processes.
Let’s take a closer look.
SaaS Management Dashboard
Our most valuable of SaaS dashboard examples, from our management dashboard series, this visual tool focuses on the executive level operations of an ambitious tech-driven company.
**click to enlarge**
The 3 most critical areas that any growing SaaS business should monitor are consumers, recurring revenue, and operational costs.
By pulling together all monthly recurring revenue and account data, your SaaS empire will gain a panoramic view of your most valuable business metrics based on past, present, and predictive data. In turn, this level of scope empowers senior-level executives to develop a deep understanding of the actions they need to take to make the business more profitable.
Moreover, by gaining the ability to delve deeper into your ongoing operational costs to make your processes more efficient while getting a firm grasp of your customer lifetime value and acquisition costs, you will be able to develop the initiatives you need to achieve total SaaS industry domination.
Here is a rundown of the essential key performance indicators featured in our SaaS management dashboard template:
- Customer Acquisition Costs
- Customer Lifetime Value
SaaS KPIs explained
Now that you understand the value of our management-based SaaS dashboard template, let’s take a closer look at the KPIs that make this priceless tool tick:
1. Customer Acquisition Costs
Your Customer Acquisition Cost (CAC) is critical to your success, and for this reason, it’s one of the primary metrics featured on this SaaS dashboard example.
This KPI offers a graphical representation of the costs associated with converting a prospect, allowing you to set solid targets to reduce your CAC over a set time period.
2. Customer lifetime value
Your customer lifetime value (CLC) is an important SaaS metric that will give you a solid understanding of the worth of doing business with your customers.
By gaining the ability to track and measure this metric over a predetermined timeframe, you’ll be able to formulate strategies to drive up your average CLC, boosting your profitability in turn.
Your average revenue per user (ARPU) is a KPI that that provides a clearcut indication of your average customer’s revenue from all of your sales.
This metric is essential as it will allow you to see how profitable your activities and initiatives really are. If your ARPU is rising, you’re on the right track; if it’s not, you’ll need to develop initiatives for improvement.
This is a vital KPI for all SaaS dashboard examples. Monthly recurring revenue (MRR) will form the foundations of your organizational success.
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Without a steady stream of profit, your business will cease to exist. Your MRR will be the cornerstone of your SaaS business, and by having access to this metric on a regular business, you will ensure your company thrives for years to come.
“Every once in a while, a new technology, an old problem, and a big idea turn into an innovation.” – Dean Kamen
If you want to accelerate the growth and success of your SaaS, letting your innovation shine through for all to see, adopting a data-driven approach will prove incredibly effective.
We live in the age of business intelligence, and those who use the right tools, platforms, and metrics to their advantage will emerge victorious – especially in the SaaS sector.
If you want to explore the business-boosting benefits of SaaS dashboards today, try datapine for a 14-day trial, and you’ll win on tomorrow’s commercial battlefield.