Payments can unlock opportunities for any SaaS business
It turns out that adding payments is the solution for finding value and opportunity in almost any size of vertical SaaS business – at least according to Adeyemi Ajao, a co-founder and Managing Partner at Base10 Partners. He recently published an article in Forbes that takes a look at how SaaS platform businesses can have great success even in markets that are perceived as ‘small’.
“Vertical SaaS companies are becoming SaaS + payments companies, and by doing so are creating mega-opportunities in deceptively small TAMs (Total Addressable Markets),” he asserts and goes on to say, “What is clear is that the next generation of vertical market SaaS businesses should incorporate payments functionality directly into the product feature-set and take a cut of that payment flow rather than outsource those payments to external providers. Not only does this increase the TAM, but it also improves customer experience which in-turn leads to customer retention and a better and more valuable business in the long-term.”