Have you already set up a SaaS company? If not, think about it. The SaaS business model is a game changer for digital technology due to its ease of use, user accessibility, security, and widespread connectivity. But before developing a SaaS solution, identify your business idea, goals, and target audience, and choose the best saas software development company which fits your requirements and budget.
Let’s look at some of the companies that have been trailblazers in recent years. According to ReportLinker, the worldwide SaaS industry will increase by $99.99 billion between 2021 and 2025, with these companies at the forefront of this boom.
Adobe was once known for its perpetual licensing software products, but since 2012, the business has been shifting to a SaaS-first revenue model. That year, it transformed Creative Suite into the Adobe Creative Cloud, a cloud-based subscription service that included all of the software tools a designer may want. Adobe has since released numerous market-leading SaaS solutions, notably the wildly successful Adobe Experience platform. According to NASDAQ, Adobe’s SaaS revenue is $11.6 billion, accounting for 16% of the company’s total yearly sales of $13 billion.
Atlassian is a leading provider of remote and distributed team communication technologies. Its solutions cover requirements for project management, security use cases, team communication, IT services, and core product development. The service integrates with a large range of third-party solutions, which may be found in the Atlassian marketplace. Its entire SaaS revenue in Q3 2020 was $411.6 million.
Freshworks, which started as FreshDesk in 2010, is an end-to-end business solutions provider for small to mid-sized businesses. It provides all the tools required for customer and employee collaboration, including HR enablers and IT service management tools, CRM, corporate telephony, and customer care chatbots. It also has AI capabilities and a marketplace with hundreds of integrations to select from.
While Google isn’t only a SaaS provider (it offers infrastructure options like the Google Cloud and the Kubernetes engine, as well as free web apps like Google search), its SaaS products have grown in popularity in recent years. Google Workspace, the company’s previous G-suite service, was recently relaunched as Google Workspace, giving it a unique SaaS feel rather than a collection of separate, unconnected features. Google is most recognized for its SaaS-based productivity tools, as well as its marketing and advertising platform.
Microsoft, best known for its Windows operating system and Office suite of applications, has achieved great breakthroughs in SaaS in recent years. Its formerly perpetual license-based productivity products are now part of the Microsoft 365 suite. This covers conventional desktop programs such as Word, Excel, Outlook, and PowerPoint and web-native SaaS solutions such as SharePoint and Teams.
Salesforce is a SaaS company with a single flagship platform. Salesforce is customized for many industries, such as financial services, education, consumer products, and so on, as well as for enterprises of all sizes. Salesforce is largely responsible for building an inclusive, fulfilling, and competitive work environment with the SaaS culture, in addition to the product.
SaaS is an entirely new way of doing business, assuring a steady stream of subscription-based revenue for software providers and opening the way for shorter release cycles, more regular updates, and deeper customer relationships. Users benefit from substantial cost and effort advantages and the option to avoid vendor lock-in.