Breakneck Pace of Innovation in Software as a Service Space Accelerates, Disrupting Every Industry In Companies of All Sizes.
If you’ve watched Big Break with Jim Davidson, then you know that In snooker, the object of the game is to hit the white cue ball with a long stick with such precision that it creates a chain reaction, knocking the other balls into one of the six pockets through indirect force.
The game demonstrates leverage, a business concept that Scott Holsman uses to place his client’s job ads on page one of over 150 job boards.
As the founder and CEO of Next Level Performers or NLP, Holsman is a driven entrepreneur on a mission to reduce friction in the hiring process. He allows his clients to leverage his robust analytical tools and market intelligence to search less and hire smarter.
When he needed a call center to set appointments for his heavy hitter recruiters, his first instinct was to build it from scratch and hire a sales manager to oversee it.
But one of his consultants told him that starting his call center would be slow and costly. He looked at outsourcing, but after researching with his connections, he realized their billable hour and monthly retainer models were expensive and difficult to manage for small businesses.
Then he saw Overpass mentioned in an article in Forbes, a SaaS or “software as a service” freelance marketplace that focuses exclusively on sales. It engineered its business model around the small business owner’s need for affordable and rapid scalability with a low barrier to entry.
“At $160 per seat monthly with access to hundreds of qualified salespeople who can tell my story to the hiring managers and HR executives, it’s difficult to argue with the value proposition,” said Holsman.
Companies like Hubspot, Mailchimp, and Box operate in the SaaS space with Overpass. Per research from Forbes, by 2022, the SaaS market will be valued at $233 billion, subsequently growing to over $368 billion in 2024.
This conservative estimate projects a $200 billion increase in five years. Roughly 25,000 SaaS companies were operating worldwide in 2021, according to Statista. But in the next five years, there will be 200,000 SaaS companies, per Forrester’s Jay McBain.
Most of us can barely remember when every computer had a disc drive, and we had to buy packaged software from big-box retailers. Good luck finding a laptop with a built-in drive rendered obsolete by a superior delivery system.
One can credibly argue that SaaS is the killer app in the cloud. Companies deliver software applications over the internet as a monthly subscription or recurring annual fee. Cloud providers host the software, upgrades, and maintenance, dispatching real-time updates in the background.
ServiceMax, FedEx, and Home Depot allow users to manage work orders and plan and schedule assignments on their phones or tablets. The cloud and its suite of SaaS applications support this digital transformation.
Artificial Intelligence, or “AI,” is one of the most dominant influencers of SaaS software developers. Tractable, Techmetric and Autoleap have embraced AI to help automobile companies assess damage after an accident without the need for long-winded explanations that rely on notoriously inaccurate human recall.
Meanwhile, AI-powered SaaS from HubSpot, GitHub, and Slack are making their dent in the universe as vertical SaaS players like Veeva in life science, Guidewire in insurance, Medidata in clinical trials, and Toast in restaurants are targeting specific industries. The specialization positions these players to super-serve clients with deep focus and expertise.
One of the early movers in the SaaS space, Salesforce, grew its market cap by more than $40 billion last year. The area’s rapid growth in the IT sector is evident in companies like ServiceNow, which increased its market cap from $55 billion to $104 billion in 2021.
This phenomenon is no flash in the pan or buzzy trend. From customer relationship management or “CRM” and human resources to project management and sales, SaaS solutions hold the keys to our bright futures in the metaverse.
“When you factor in the cost of an in-house salesperson, human resources, office expenses, computers, and accounting, our average client saves $20,000 annually per salesperson,” said Lavie Popack, founder and CEO of Overpass the only global vertical talent marketplace for sales.
But he underscores that the cost savings from his SaaS service pale in comparison to the time savings his company delivers. “It took less than one hour for Matriarch Training & Consultancy Services to set up a video interview with their next rainmaker,” said Popack. “Shorter time to find, interview, hire and place candidates means our clients beat their competitors to the punch.”
With thousands of new SaaS platforms rushing to market every day, we see increased efficiencies, flexible payment options, accessibility, scalability, and improved collaboration across every industry and job function.
Every month, users financially support the model, validating its value and making these applications sustainable.
A contestant on the British TV show that Scott is watching strikes the white cue ball, which smashes into the last red ball, positioned near the right corner pocket, sinking on command.
Andrew Ellenberg is President & Managing Partner Of Rise Integrated Marketing, a global management consulting firm specializing in original journalism for national distribution. To submit story ideas or inquire about our custom publishing services, email andrew@riseintegrated.com or call 816–506–1257.
