Software as a service (SaaS), also known as on-demand software or cloud-based software, is a method of software delivery that allows data access from any device on the planet that has a good internet connection. From massive corporations to startups, cloud-based software is the default deployment method these days.
As a business model, SaaS is the best shortcut to success when compared to on-premise software. SAAS products are easy to set up as they eradicate the need for physical installations and strict contracts. SAAS products work on a subscription basis, where the user can have access to the data until the subscription period expires. Unlike SAAS products, on-premise software is usually purchased through a perpetual license and is paid upfront.
Many companies still believe that on-premise systems are more reliable but every system is prone to downtime. On-premise software is often subjected to electrical outages, software failure and a wide array of other possible risks. Whereas, the only downside of SaaS is that it depends on a good internet connection. Unless the business is located in a remote area, the connection would be sufficient to access the data. For the purpose of overcoming the downtime issues of the on-premise software, SaaS vendors have developed the offline functionality that enables the user to keep working even if the internet is down and the data is synced back to the system once the connection is available.
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SAAS companies are revolutionizing the business sector at an incredible speed. This created many new opportunities in various fields in the business vertical, which led to the growth of many startups that have the potential to become billion-dollar enterprises eventually.
One of the prime examples of a startup turning into a Multinational corporation is the Salesforce. Salesforce brought the concept of SAAS into the industry initially. Salesforce specializes in Customer Relationship Management (CRM) and provides services that allow businesses to use cloud services to connect with their customers, partners and potential customers.
Salesforce was founded by Marc Benioff and Parker Harris in February 1999 in California, United States. In 2018, Salesforce had a 16.8% share in the global CRM applications market, ahead of Oracle and SAP.
Over the past 2 decades, the firm has grown into one of the largest software and programming companies and is regarded as one of the most valuable tech brands around the world.
Similarly, Many startups have been remarkably successful in the market over the years. Some of the most noticeable startups over the past couple of years are listed below.
AppZen, founded by Anant Kale and Kunal Verma in San Jose, California, is the first company ever to develop artificial intelligence (AI) solutions in business processes. Their solution offers the world’s first real-time T&E expense report compliance and audit solution.
AppZen’s artificial intelligence contains deep learning, computer vision and natural language processing (NLP) so that it could understand the full context of the expenses such as the merchant’s name and dates, not just the amount.
Pipefy, a San Francisco, California-based company founded by 4 people, Alessio Alionco, Kelvin Stinghen, Leonardo Johann and Magnus Arantes, enables the businesses to create and run their workflow in a fast, powerful platform that requires no technical skills and is incredibly easy to use. The solution offers automation, centralized and easy communication, operation management, a platform for an agile team, sales operations and many more. The company was founded in 2014 and was based in Brazil before the HQ was moved to California.
Pipefy has gained the trust of a large number of businesses in over 140 countries, including some big companies like IBM and VISA.
ChatMeter, a California company, provides a local SEO platform designed to help enterprise retail brands and agencies that manage multiple locations increase their profits. Their solution analyzes and improves over 1.5 million storefronts for their ranking, listings, review and social media presence.
The data is analyzed and recommendations are made to help retailers drive customers to their stores over their competitors. They also offer an integrated local visibility rank tracker that makes it easier for the business to measure ROI using their platform.
Postman, based in San Francisco, California, is a toolchain that can be used by a single developer or a software team or an enterprise to build software. The software is built for the future where everything will be connected by APIs.
Postman is available on Mac, Windows and Linux and is being used by more than 3 million developers today.
Zoom provides communication technology solutions like video conferencing along with online messaging in one very user-friendly platform. The solution offers world-class audio, video and screen-sharing services that are available on Mac, Windows and Linux.
Accelo, founded by Christine Higgins, Eamonn Bell, Glenn Fowler, Hush Cowling, is dynamic SAAS-based enterprise software that has completely automated professional service to work in the cloud.
It has a number of robust features that help to make organizational processes automated and enhances productivity levels.
Yesware, founded by Cashman Andrus, Mathew Bellows and Rajat Bhargava, is a dynamic software that provides email tracking, customizable templates and CRM integration for Gmail and Outlook users.
It has the ability to plug into email inboxes, create and use email templates, and sync mail, calls and calendar with their CRM system.
SaaS started gaining attention around a decade back. But judging by the current scenario, we can see that it still hasn’t lost any of its momentum. This will keep creating new opportunities in the field of SAAS technology. While this list may give us an idea about the hottest 7 startups in recent years, it will surely be updated in the upcoming days.