By the end of 2023, the cloud will be used for 83 percent of company work. All are owing to the tremendous growth of SaaS. SaaS companies, sometimes called software as a service, provide software apps and services to their customers through a subscription model. SaaS has allowed some businesses to go cloud while modernizing their physical IT architecture.
How Do SaaS Companies Operate?
To meet the unique business needs of organizations, a SaaS company offers web hosting solutions. Accounting, corporate resource planning, software, customer relationship management, and other services are all examples of software as a service offering. This app hosting service makes apps accessible via cloud infrastructure. The following are the top SaaS advantages.
1 – Keep track of incoming bills and contract expiry dates.
2 – Data in a SaaS business model is solely available to subscribed customers; therefore, there is no risk of piracy.
3 – Customers may visit your website for subscription, etc., anytime they want, thanks to the SaaS model’s 24/7 availability.
4 – Simple customization with frequent updates.
According to the graph above, the growth of the software as a service has remained consistent throughout the years. This is a collection of brief data to assist you in evaluating software as a service or SaaS statistics.
1 – According to Gartner’s 2018 estimate, SaaS companies may produce over $70 billion.
2 – Microsoft has a market share of around 18%, whereas Salesforce has a market share of approximately 11%.
3 – According to another Gartner study, revenue from the SaaS industry will grow by more than a hundred billion dollars in 2021.
4 – The market for corporate mobile SaaS is expected to grow by over $7 billion this year.
There are two primary reasons why the SaaS market has continued to grow enormously.
SaaS Apps & Customer Success Management
One important factor for the increased adoption of SaaS apps is their customer success management method. To provide optimal subscription services, SaaS software management companies continually work to analyze specifics about customer needs and data use after subscription.
SaaS Solutions Using Predictive Analysis
The SaaS model’s second characteristic is a predictive analysis and artificial intelligence. Below are some SaaS examples and use cases.
1 – SaaS management tools aid in anticipating attrition and calculating the value of each customer.
2 – SaaS software provides AI predictions for key performance measures (KPIs).
3 – SaaS platform AI uses purchase data and customer demographics to anticipate all in-app purchases.
Best 23 SaaS Companies In 2023
Let’s look at the best SaaS companies that have shown the value and a bright future.
Zoho is a top SaaS provider offering a wide range of business, collaboration, and productivity apps. It has over 20 million users globally and over 33 products to help with various needs like sales, marketing, collaboration, support, financing, and recruiting.
SolarWinds IT, the infrastructure management software, is used to monitor IT environments that are hybrid or cloud-based. In addition, the SolarWinds SaaS company, one of the best SaaS providers, provides a database performance analyzer for enhancing database performance. Solarwinds also provides performance monitoring for multivendor networks.
3. Agile CRM
Agile CRM is a major SaaS, marketing, and CRM company that caters to the growing needs of small businesses. It is a complete end-to-end CRM that enables small and medium-sized businesses to manage every stage of their customer lifecycle from a single platform. It aims to promote long-term, scalable growth.
Parallels is a cross-platform solution that enables businesses to access the services they need on any operating system or device. The software as a service company’s remote desktop platform allows apps to operate on any device in any location. In addition, the virtualization software company provides a toolkit for running various apps.
IBSFintech is a SaaS provider that provides specialist financial products and software tailored to manage corporate treasury, FX, and finances. It enables large and small organizations to harness the potential of new financial solutions and successfully manage their money. IBSFINtech, a SaaS based company, manages an organization’s financial risks by offering instant information. Companies may analyze and determine how to best deploy their funds using the SaaS tool.
It is a software as a service company that offers SaaS customer interaction solutions to businesses. Freshdesk, its main product, makes it simple for sales, marketing, and support professionals to connect efficiently with customers for improved service. Freshworks communicates with its customers at every stage of their journey and offers SaaS solutions to businesses of all sizes. Its cloud-based suite is used by over 150,000 businesses, including Zomato, Toshiba, Hugo Boss, and Cisco.
It is a business communication and VoIP platform that connects customers and teams in a single place. The cloud communications SaaS company also provides helpdesk, text messaging, video conferencing, and sales CRM solutions. Nextiva’s SaaS tools may also be used for screen sharing, cloud connectivity, and verifying phone presence, thanks to powerful customer management components.
It is a SaaS based media tech company that aims to tackle critical difficulties in the media-based ecosystem. VTION can analyze trends and customer behavior across several areas and demographics. In addition, users may filter data and build analytics views as needed. VTION has received a total of 19.2 million in investment across one round.
It is a SaaS company that offers a platform for online gaming. Participants may register as individuals or as a team. Students may win and get cash and goods as prizes. It offers a platform for Dota 2, CS:GO, and other massively multiplayer games. You can compete with anybody, anywhere, and anytime using its SaaS based platform. Playtonia has also created Game Certifications, an e-Sport VR school, Gaming Incubation Cells, and E-sports Event Strategies.
It is a SaaS company that uses machine learning and the internet of things to assist businesses in achieving efficient operations, sustainability, and maintenance. Facilio assists contemporary businesses by transforming conventional facility management into intelligent, automated, and predictive facilities. It is an early stage startup that has obtained Rs. 6.4 million in series A investment.
It is a customer experience management tool that measures customer experience data via trip mapping. Most significantly, the software consolidates all pertinent customer data into a single platform for better decision making and improved customer experience. The primary aspect of their software is predictive analytics and integration with customer interaction models.
12. Kloud Connectors
Kloud Connectors allows you to select any of the best clouds to automate your business processes. You may also select a monthly or yearly payment plan, which can be canceled anytime. In addition, you may use the bespoke connections supplied by one of these top SaaS companies to meet your business demands. You may also set the sync timings for the daily automated syncs.
13. Hippo Video
Hippo Video is a video customer experience platform that enables businesses to communicate with the appropriate audiences via tailored videos. This significantly speeds up conversions. It received 1.5 million dollars in startup capital and two rounds of funding. Hippo Video is supported by KAE Capital and Surge Ahead and has many users worldwide. It uses machine learning and AI to assist businesses in creating and providing analytics for videos.
14. KlentySoft Inc
Klenty is a SaaS product that helps boost sales interaction. Users can send customized emails and set up automated follow-ups. Inside Sales teams may grow their outreach and follow-up operations using the software product Klenty. It automates the process of contacting prospective customers. Klenty integrates with top CRM apps, providing features like duplication identification, email engagement analytics, prospects database, email engagement metrics, and A/B testing.
Chargebee is a premier SaaS company that provides reporting, analytics, and intelligent insights for developing growth-based plans. It also offers gap-free financial analysis for auditing refunds, payments, and credit notes. In addition, the PCI compliant checkout with plug and play connectors increases subscription income and recurring payments.
IT managers and recruiters trust HackerRank SaaS company to evaluate a potential employee’s development skills. The software supplied by HackerRank has detailed reports, an automated grading system, code diffs, and git history. Its SaaS products are also used for data science, full stack, DevOps, forint, and back-end roles analysis. Linting, multiple files, auto-complete, and debugging are also supported.
Paperflite helps businesses manage their content across divisions to boost marketing efforts. The company also supports the activities of any organization’s inside sales and field sales teams by assisting them in organizing papers. Paperflite has secured $400,000 in round one of seed investment.
18. Capillary Technologies
Capillary Technologies delivers a customer interaction and e-commerce platform for businesses and merchants. The Capillary Loyalty product of this SaaS company offers management solutions to assist businesses in transforming into successful online marketplaces. In addition, businesses may increase sales, customer engagement, and product reach through numerous marketing channels offered by this technology, such as mobile apps, social networking features, and other marketing channels.
It is a social media marketing cloud-based approach for conversion monitoring and post scheduling. The platform uses data analytics and data visualization to improve brand recall and online branding and graphically portray data connected to customers. Ziplr may also be used to collect data on the spread of a website.
E-commerce companies trust it to propose suitable products based on consumers’ interests, enhancing sales and profit margins for the company in question. Customized shopping solutions are the key functional area of the software, for which it employs strong algorithms. The main advantages of employing Unbxd software are improved customer retention, better product delivery, and enhanced product value.
Qubole is a cloud-based service provider that offers deep analytics and machine learning for large data volumes. Its software is intended to handle many forms of data, including semi-structured, structured, and unstructured data, allowing for a speedy data activation process for its end users. By analyzing large data using Qubole software solutions, you may extract deep insights and construct AI apps.
It is one of the most trusted and best SaaS companies, specializing in a POS management system for managing many POS outlets from a single dashboard. The cloud-based technology is used to set up point of sale outlets to assist in managing businesses such as restaurants, spas, minibars, and travel desks. Their POS system is also beneficial for organizing fast-selling products as highlighted items for easier sale to visitors.
FourKites delivers network solutions for better supply chain management. The core platform and multi-modal coverage are critical for coordinating supply chain activities. In addition, the platform is based on predictive insights and real-time data for speedy decision making. For example, live platform data may calculate active loads, anticipate shipping delays, and find possible exception management savings.
In recent years, SaaS companies have seen phenomenal growth, which is expected to continue in the next years. Some SaaS businesses, like Vtiger, Bevywise, and Capillary, have already gone worldwide with their business, and many more are on the way. This demonstrates that SaaS is the future of all procedures.