SaaS or software as a service is a service that’s delivered to customers. Consumers have to pay for the software based on a subscription-based model. Based on the annual usage, the number of licenses, features, and the type of service, the prices vary. As per reports, the global SaaS market is expected to grow by almost $100 billion.
In this guide, we’ll discuss the best SaaS company in 2024 that are boosting the growth of the SaaS industry.
Key Features of Software as a Service Companies(SaaS)
More and more software providers are moving to the SaaS business models. Customers tend to gain a lot from the flexibility of on-demand scaling and pay-as-you-go efficiency. Industry-wide adoption of SaaS is expected to grow by over 65% in the year 2022.
Here are the top features of SaaS companies in 2024:
1. App Hosting on Cloud
All the SaaS companies are leveraging cloud technologies to deliver their solutions to the consumers. This makes it easier to monitor consumption, and scale up and down technologies if needed.
2. Endless Integrations
SaaS companies make an endless range of features available on the app. This is done using APIs, and software development kits (SDKs). Ideally, the customers should have an online catalog or marketplace where customers can download the integrations.
3. Flexible and Scalable
Hosting cloud services is crucial for businesses that require flexibility and scalability in their operations. Businesses can deploy the solution for 5 people or 50 people as per their preference. SaaS solution providers on the other hand can sell their licenses on per user basis or custom plans.
4. Straightforward Pricing Catalog
Almost all SaaS companies offer a straightforward pricing model. These pricing models clearly outline what features the user will be getting.
5. Simple Implementation of Solutions
What makes some SaaS Companies the best SaaS company is the ease of implementation. Businesses rely on SaaS companies because the solutions can be implemented without any setup or integration hassles, with the SaaS vendors providing training support. SaaS companies also streamline the maintenance of software using cloud-based updates.
Top 10 Software as a Service (SaaS) Company
Now, let’s move on to our list of top SaaS companies in 2022. We’ve done some research, and chose companies that are impacting the lives of millions every day.
Adobe came onto the scene as a company that sold licenses for its software products. But after 2012, the company has been moving to become a SaaS Organization. Adobe converted all its services into a Creative Cloud Suite, which is a cloud-based subscription. service.
Since converting to a cloud-based model, Adobe’s revenue has grown exponentially. In 2020, the company’s total revenue was $13 billion, out of which $11.6 billion was because of its SaaS platform.
Adobe is the perfect solution for small, mid-sized, and large marketing teams.
USP of Adobe:
The reason behind Adobe being a market leader in their industry is because they offer solutions for both B2B and B2C businesses. In the last couple of years, the company has provided 3D design and product development for AR.
Atlassian is another one of the best SaaS companies offering collaboration tools for businesses with widespread teams. All the products are catered toward project management, security use cases, and team collaboration. The company can integrate with a variety of third-party products, and you can get these for your businesses from their in-built marketplace.
Atlassian is doing incredibly well in the SaaS environment as their revenue in Q3 of 2020 was $411.6 million.
USP of Atlassian:
Atlassian is incredible for offering point solutions for most business problems. The products can help non-tech teams such as HR to handle day-to-day tasks. At its core, then it’s a one-stop productivity and business enablement solution.
Everyone is familiar with Google. While Google isn’t a SaaS provider on its own, it does offer some infrastructure offerings such as Google Cloud. In recent years, Google’s SaaS solutions have gained a strong footing in the market. The company re-shaped its old G-Suite offering as Google Workspace. This has helped Google in increasing its SaaS revenue.
Google has created a whole array of SaaS-based productivity tools, alongside the marketing and management tools.
USP of Google SaaS:
Google’s SaaS products have garnered a great following because of its design and aesthetic, and excellent usability for business users. While SaaS may not be its main revenue generator, the tools have been helping businesses in boosting their operations.
Microsoft has also entered the SaaS industry, and it has soon become one of the best SaaS company on my list. The company has made all the right moves when it comes to SaaS tools. Its initial license-based productivity apps can now be bought under the Microsoft 365 Suite.
All the tools that you’re familiar with such as Word, Excel, Outlook, and PowerPoint are now available under the SaaS-based ecosystem. It's ideal for businesses whose workflows rely heavily on Microsoft tools.
USP of Microsoft:
What makes Microsoft the best SaaS company in my eye is its scale of reach. Combined with their experience, and brand value. The company has managed to combine data analytics good UX design, and an array of third-party integrations to provide SaaS offerings that truly help businesses.
Salesforce is a SaaS company since the beginning with a single platform. The company offers Salesforce in custom ways for different companies across several industries. Salesforce can work in financial services, education industry, consumer goods, and other industries.
Apart from the product, Salesforce is single-handedly helping businesses build a rewarding and competitive environment with a SaaS culture.
USP of Salesforce:
Salesforce is famous for providing an extremely comprehensive solution for your customer experience. The tools also help in sales team management needs.
Also called as FreshDesk and launched in 2010, the company offers end-to-end solutions for businesses both small and medium-sized. Freshworks offers a range of tools that you need for:
- Customer engagement
- Employee engagement
- HR solutions
- IT service management tools
- Enterprise telephony
- Customer service chatbots
All their solutions are based on their home-based AI solution. Plus, there’s an online marketplace where you can choose tons of integrations for their tools.
USP of Freshworks:
One of the best things about Freshworks is they have a no BS business model. It breaks down its value proposition into 9 key products:
- Freshworks CRM
Businesses can choose from the tools and functionalities they need or opt for a unified customer-facing solution.
Xero is headquartered in New Zealand and it offers cloud-accounting software for businesses. What makes them one of the best SaaS companies is they offer services at affordable rates. Businesses can link Xero to their bank accounts and pay online invoices.
Xero’s solutions help businesses by providing a suggestion of potential matches between transactions entered in Xero and data in their bank statements. It’s a foolproof cloud accounting solution.
USP of Xero:
Xero has quickly become a major player in the worldwide SaaS environment. It is catered towards small and medium-scale businesses such as hotels, government agencies, and fast scaling businesses. And it helps that all the plans are highly affordable.
Paychex is one of the oldest companies on our list. It was founded in 1971, but it has still managed to keep up with changing times. By adopting to the SaaS business model, they managed to keep their customer base, and even increase it.
Paychex is a finance and payroll SaaS company. But it has some additional offerings such as human resources, and outsourcing solutions. The company launched its SaaS model for Payroll, time and training, HR, and Benefits back in 2013.
USP of Paychex:
Paychex is a cloud-based platform to offer minimum risk of data loss. It helps businesses speed up their day-to-day tasks, all thanks to a highly intuitive user interface. Moreover, it allows you to run the payroll software on multiple devices for team collaborations.
ServiceNow is a workflow management company that allows you to digitalize workflows. it allows you to put together a solution using the pre-built tools. The best part about it is that you can customize the UI as per your preference.
USP of ServiceNow:
What makes ServiceNow one of the best SaaS companies is its Integration Hub. It’s a low-code Dev tool for building your own integrations and workplace automation using the platform. That’s not all, it allows you to connect with hundreds of business systems without needing to code.
Zoom started out as a SaaS-model video conferencing tool. It can host up to 25 participants and during the pandemic, it quickly became one of the biggest video conferencing platforms. Its offerings now include Zoom chat, Virtual events, cloud-based telephony, HD meetings, and conference room solutions.
USP of Zoom:
Zoom has two major factors that make it one of the best SaaS companies. Small teams can take advantage of everything Zoom has to offer for free. Large enterprises can invest in their paid offerings. You can also leverage Zoom as a unified communication app by using Zoom United, including chat, telephony, and video meetings.
Tags: SaaS company, best SaaS company, Software As a Service, Top Saas Companies, Top SaaS Company