Software as a Service (SaaS) has grown into the most popular business model in the IT industry and SaaS companies represent some of the fastest-growing enterprises in today's business world. In fact, 73% of organizations that responded to a survey indicated that SaaS vendors will be providing at least 80% of their apps by 2020.
SaaS products are helping many B2B companies run their businesses more cost-efficiently by eliminating high up-front IT costs, lowering operating expenses, and gaining access to the latest technologies.
What's a SaaS Company, SaaS Product, and B2B SaaS?
Saas companies provide software to their customers as a service. They design, develop, host, maintain, and update a cloud-based software (a SaaS product) on a central platform, which customers can log in from anywhere with an Internet connection at any time.
Customers using a SaaS product access the software using a web or mobile browser, instead of having to install or download an application onto their hard drives or local servers. When the provider updates the application with the latest features, the customers will automatically get the upgrades without having to do anything or pay an additional fee.
B2B SaaS vendors offer ongoing IT support so companies can lower their operating costs. In addition, they provide customers with better network security and round-the-clock customer support for an affordable monthly subscription fee.
B2B SaaS products are changing how organizations work. They help businesses increase operational efficiency, improve sales and marketing ROI, and deliver better customer service. Thanks to the subscription-based business model, SaaS companies are very much invested in customer success because users that get great results are more likely to stay loyal.
Top B2B SaaS Companies
Here are 12 top B2B SaaS companies offering popular applications that are helping many businesses improve productivity, increase sales, and achieve growth:
More than a search engine, Google's G Suite offers a collection of productivity tools businesses of any size need -- including Gmail for email service, Docs for creating documents, spreadsheets, and presentations, Drive for cloud storage and file sharing, and Calendar for scheduling and time-management.
While anyone with a Google account can use these applications for free, many businesses subscribe to the paid plans to access additional features such as unlimited cloud storage and 24/7 customer support. With earnings of over $1 billion per quarter, G Suite is making Google one of the largest SaaS companies in the world.
Most businesses that need graphics and video production capabilities are likely to be customers of Adobe, which successfully transformed its model from a software license business into a cloud-based business. Adobe Creative Cloud, which includes Photoshop, Illustrator, After Effect, Premiere, and InDesign, has a user base of over 2 million individuals and organizations.
In addition, Abode Marketing Cloud offers a series of software applications for digital marketing. It provides cloud-based platforms to support content marketing, cross-channel campaign execution, personalization, customer engagement, advertising, analytics, email marketing, data management, and more.
Slack is a chat tool designed to facilitate internal collaboration and communication -- using group and private messaging, video conferencing, file sharing, and productivity bots to help teams increase productivity. It's especially popular among companies with distributed teams that need to keep all information accessible from a centralized location in real-time.
The platform integrates with many popular cloud-based applications so organizations can manage workflows all in one place. Thanks to its intuitive interface and wide adoption by companies of all sizes, it's ranked 85 in market presence and have a score of 100 in customer satisfaction.
It's the most popular eCommerce platform for online stores and retail POS, providing hosting, storefront, shopping cart, and other key functionalities for online merchants. Besides the many built-in features that support B2B eCommerce, users can also download different apps to integrate other capabilities into their eCommerce sites.
Besides the monthly subscription fee, Shopify charges a transaction fee. With over for more than 600,000 customers, it has reported total revenue of $320.5 million in Q1 2019, a 50% increase from the comparable quarter in 2018.
A cloud-based email marketing solution, MailChimp offers a variety of functions that help businesses capture leads, build customer relationships, and increase sales. Users can manage mailing lists, send newsletters, and create email campaigns.
MailChimp offers robust functionalities to support the latest email marketing strategies, including automation, personalization, and analytics. It also integrates with many popular applications, such as Google Analytics, Zapier, WooCommerce, and more to help streamline workflows and improve productivity.
One of the pioneers in the cloud-based software industry, Salesforce has been around for 20 years. It's most well known for its Sales Cloud, a CRM platform that helps sales executives manage pipelines and interactions with prospects along the entire sales funnel.
With over 3 million subscribers, Salesforce is the leading SaaS platform for customer acquisition and sales management. It also offers other services, including the Public Cloud software and consulting services. It's projected to hit $16 billion in revenue in 2019.
Well known for its cloud-based inbound marketing and sales platform, Hubspot has over 50,000 customers that are using the software to capture leads, nurture prospects, and manage customer relationships. It has three main product offerings -- Marketing Hub, Sales Hub, and Service Hub -- which work together to deliver an all-in-one solution for managing the entire customer lifecycle.
Hubspot integrates with many popular software applications so users can manage everything from email marketing and eCommerce to social media and analytics all in one place. The company continues to experience solid growth and is forecasting full-year revenue of about $506 million for 2019.
A leading cloud-storage service provider, Dropbox Business allows users to manage and share files with teams from anywhere via different devices. Its visual interface and the ability to handle large files are ideal for creative collaboration. Since all the files are stored in one centralized location, everyone in the team can access the latest version to minimize errors and miscommunication.
The platform offers more than storage space. With its many features, such as Smart Sync, granular sharing permission, single sign-on, backup and security, and third-party software integration -- no wonder it now has over 500 million registered users, including 12.3 million paying customers.
ServiceNow provides enterprise automation solutions that streamline IT system, manage workflows, and facilitate communications across the entire organization. It has a variety of cloud-based offerings, covering IT service management, IT operations management, IT business management, human resources, customer service, and security operations.
The one-stop-shop approach to an operation management platform has attracted over 5,000 enterprise customers -- bringing the company's revenue up to $2.6 billion in 2018 with a market capitalization of $30.5 billion.
A credit card processing app popular among many small businesses, Square allows companies to accept credit card payments without a cash register. Users simply plug the Square card reader into a phone, computer, or tablet and the device can be used to as a credit care processor.
Besides the simple reader (Magstripe) that's available for free, the company also sells other POS hardware such as readers for contactless and chip payment, terminals, POS stands, and registers for use with its software platform.
A global leader in operational intelligence software solutions, Splunk allows users to search for, monitor, analyze, interpret, and extract useful information from machine-generated big data. It's continuously developing new data analytics and machine-learning features to help enterprise customers enhance their data-driven business decision-making capabilities.
Splunk has more than 15,000 customers, including over 85 of the Fortune 100 companies. Its revenue reached $1.271 billionin 2018 with a market capitalization of $14.4 billion.
Zendesk is a cloud-based customer service platform that helps businesses track, prioritize, and solve customer support tickets. It enables companies to implement omnichannel customer support strategies to service customers across all channels including email, phone, chat, and social media.
In today's marketplace in which delivering outstanding customer experience is the key to success, Zendesk is providing an essential tool for businesses to drive sales and increase customer satisfaction. No wonder it now has over 125,000 paying customer around the world and brought in almost $600 million in revenue in 2018.
- SaaS companies provides software to their customers as a service.
- B2b companies utilize SaaS in their everyday operations.
- SaaS is growing exponentially and is crucial in the growth of so many companies.
- The top SaaS companies that are utilized by B2B companies help improve productivity, and increase sales.
As a B2B company, you need a variety of software to thrive in today's competitive business environment. SaaS products allow you to access the latest features to support your operations and marketing strategies with minimal upfront costs and an affordable monthly fee.