Software as a service (SaaS) has shown astronomical growth in the past two decades. There are a lot of SaaS businesses around now. Fortunately, they all set out with the aim of helping people with their daily lives. How better off would we be without these businesses? To answer that, it would be a lot more stressful getting things done. Business would be slow, people’s needs won’t be met, and it would negatively affect the economy.
Some of you might be asking what these companies are, and why they are so popular. These are understandable questions, because BetterCloud conducted a survey recently. In this survey, 73% of the organizations said that their applications would be SaaS this year. They also said that the percentage is likely to increase past 2020. Additionally, the number of organizations that would switch to SaaS companies are expected to skyrocket before 2025.
In this article, we will explain what a Saas company is, what it offers, and why it is so important. We would also take a look at the top 5 Saas businesses around this year.
What a SaaS Company Is and What They Offer
A SaaS company is an establishment that utilizes software to give customers a service. Think of all the times you booked a flight with the push of a few buttons on your smartphone. They could be business-to-business or business-to-customer type of service. Whatever service you used, you indeed used a SaaS business. They create their product, market it, and develop the product online. So, SaaS businesses offer many people a lot of comfort. They allow people to make transactions, and they enable people communicate with each other, among so many other things.
5 Saas Businesses You Should Look Out For
- Google. Google is a B2B and B2C business. It has shown growth, unlike any other SaaS business around. It announced a $46 billion revenue in the third quarter of 2020. Currently, it has over 130 products that are all internet-based services. Some of them include the highly known search engine, document creation, mail communication, and so many more.
- Adobe. Like Google, Adobe is a B2B and B2C company with so many online services it provides to people. In the third quarter of 2020, they were reported to have an $11 billion revenue. These services have helped so many people with the creation of other software. Some of its services include animation, marketing, photoshop, publishing, and so on.
- Slack. Slack is a B2B and B2C company that has immensely helped the workplace stay functional and operative during this pandemic. They announced a $188 million revenue in the fourth quarter of 2020. Although Slack has three products, their collaboration tool is the one people use the most. It allows for communications between employees in a virtual, diverse workplace. It also allows for video conferencing, which has helped people stay connected during the lockdown. Even when the lockdown eases up, and the disease begins to go away, many people and companies would continue to use this tool.
- Microsoft. When we hear Microsoft, we all tend to think of the revolutionary operating system. However, Microsoft has over 100 other products that all types of people use. Some of them include documentation, animation, presentation, and storage software. This company has been around for a long time, and they have yet to show any sign of slowing down. It announced that it currently has a $37.2 billion revenue in the third quarter of 2020.
- Shopify. This is a B2B and B2B business that has its customer’s satisfaction at heart. In the third quarter of 2020, it announced that it had a $417 billion revenue. It is an eCommerce business, and it has four products. Its main product is a retail store where people can shop for everything they want, at their convenience. They assure swift deliveries at affordable rates.
What We Think
It is safe to say that so many people have benefited from the SaaS business. From advertising, to hotel reservations and flight, and even searching up the meaning of a word, they continue to assist us with our daily lives. Although there are so many other SaaS businesses that are flourishing, these five have shown the most growth this 2020. If all goes well with other companies, then these five would see a lot more competition come 2021!