With digitization increasing, year-over-year SaaS is transforming the software industry and the many areas it serves.
SaaS (Software-as-a-Service) has been a buzz word for quite a long time now. A SaaS Company is basically a service provider that hosts applications and makes them available to customers over the landscape of the internet. The SaaS Company is responsible for maintaining databases and servers and making sure that users can access the applications from almost all devices.
The past few years have seen a tremendous increase in the SaaS startups in India and worldwide. India has seen exponential growth in SaaS investments in the last decade. According to the report by Bain & Company “Indian SaaS companies will reach $30 billion in revenue by the year 2025”. Based on this, it can be said that Indian-origin SaaS companies could capture an 8% to 9% share of the international SaaS market. The report also highlighted that the spending in space went up to 170% in 2020.
SaaS companies hold the potential to successfully transform various industries such as healthcare, e-commerce, HR and so on.
“India has seen exponential growth in SaaS investments in the last decade.”
Below mentioned are some of the notable SaaS companies in India that are transforming the industries they operate in:-
1. Chargebee
Founded by KP Saravanan, Rajaraman Santhanam, Krish Subramanian Thiyagarajan T in 2011. Chargebee is a SaaS company that helps e-commerce businesses. Its subscription-based PCI recurring billing platform interacts with major payment gateways to automate invoicing, payments, and email alerts for successful transactions.
2. IBSFintech
Founded in 2006 by Chandra Mohan Grover, IBSFintech is a SaaS company that offers financial solutions for managing corporate trade finance and Forex treasury. IBSFintech has gained international recognition with its seamless solutions that help global corporates manage their finances. The company’s offerings include derivatives, money, currency, and commodity modules, all of which can be integrated with third-party tools such as Reuters.
3. Paxcom
Founded in 2014, Paxcom is a SAAS based company that offers complete ecommerce automation solutions from creating and managing e-stores (or marketplaces) to advanced data analysis, exponential revenue growth, managed warehouses and supply chains along with ensuring happy customers. Paxcom offerings simplify Brand’s online strategy and growth by providing actionable insights derived from mining vast amounts of data points daily, across multiple e-marketplaces and multiple geographies. Brands can quickly see areas of growth opportunities, threats from competitive/upcoming brands and get insights on effectiveness of different campaigns /products on marketplaces.
In the fiercely competitive ecommerce space, brands need to be agile and well-informed to achieve success. Paxcom’s eCommerce solutions consist of a robust set of proprietary technology solutions backed up by an experienced services staff to provide end-to-end assistance for businesses looking to expand their online presence. They are well-known for their digital solutions that cover all aspects of day-to-day eCommerce operations. Their analytical software tools and expert customer service teams assist brands and sellers in improving their overall online performance.
4. Keka
Founded by Vijay Yalamanchili, Keka in 2015, Keka is HR and payroll management software designed for modern-day organizations.
It is a SaaS-based service provider that offers fully integrated workflows to seamlessly handle HR, Payroll and Talent Management. With one vision to enhance employee experience, they have a wide range of products right from recruitment and onboarding to performance management and payroll.
5. Agile CRM
Founded in 2013 by Manohar Chapalamadugu, Agile CRM is an Indian SaaS Company, serving the growth needs of small businesses. Agile CRM is an end-to-end comprehensive CRM that helps small and medium businesses manage every phase of their customer lifecycle from a single platform. It aims to drive sustainable and scalable growth. Agile CRM offers lead generation, contact management, and integrated telephony services. It also offers marketing automation such as email marketing campaign management and social selling tools.
Summing Up
The SaaS companies have seen exponential growth in the last few years, and these numbers are going to reach the sky in the times to come. With the constantly growing numbers, there is no doubt in saying that SaaS will be the leader in the market in the future.
