The way India is witnessing growth in terms of technology infrastructure improvement, the startup ecosystem and more support from the veteran industry leaders, is enough to make a statement that India has enough potential to be the world’s leader in technology & research in coming years. The emerging Indian startups are establishing themselves in the world-class technology space. It is believed; within the Industry that India will be the SaaS Hub of the world.
SaaS is defined as a software distribution model in which applications are hosted on the cloud which is directly used by massive vendors or clients. The recent study by Google & Accel partner indicated that India will have US$10 B Revenue by 2025 acquiring 8% of the Global SaaS Market.
There are a few Indian SaaS companies who are doing pretty well globally such as Freshdesk, Zoho, ChargeBee and SirionLabs etc. These businesses are telling the compelling story of Indian SaaS landscape. Data Intelligence Platform Traxcn has also indicated that there have been more than the US $1.4 B funds injected in the Indian SaaS businesses from 2010 to 2016 but just in first quarters of 2017, more than 10 Indian SaaS companies have received Investment. This indicates that India will witness to the Powerhouse of Software products, which will be served globally too.
This happened because of the concrete success of few an Indian SaaS businesses like Zoho and Freshdesk, who have left their footprints on the global scale. Some of the factors that are also important for this success and to set the milestones in this sector are:
- Affordable Resource Cost
- Global enterprises’ confidence and trust in using Indian products
- Low-Cost Billing
- Maximum Utilization of Services
- Extremely Good Talent to build world-class products
- Innovation and Research in new areas
- Growing and Improved technology infrastructure
- Local Businesses Usages with Indian Products
- Cloud Cost has decreased
There are a few challenges such as selling ability & global knowledge etc. though to reach on the global stage that is mitigating.
The time is here for Indian SaaS companies to build sustainable enterprises by focusing on mid-market enterprises. There is a huge opportunity to build ‘enable focused products’ that will speed up the development, integration and reduce costs in new areas. The winning formula for such enterprises will be to:
- Build a team with Domain Expertise
- Enable products for quick integration
- Kick-Ass UI with easy use
- Understanding the in-depth competition
The focus should not be only for subscription or licencing but should also focus on utility, processing & transaction level Paying Models. These will help in generating sustainable revenue in the long-term. The mass level adoption rate with low cost is required too for the success of the SaaS products both locally and globally.
The emerging new technologies such as Artificial Intelligence or DeepTech have powered SaaS-based products. This report suggests that 2018 is going to be the year for emerging technologies such as Artificial Intelligence. AI is also going to rule the world in SaaS product based businesses.