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Constant innovation and a profound understanding of customer needs are crucial for maintaining relevance in the ever-evolving <keyword id="11064864" type="General" weightage="20" keywordseo="saas-industry" source="Orion">SaaS industry</keyword>. And it goes beyond just deciphering customer requests. True insight is gleaned by actively listening to their perspectives and aligning innovations with their overarching <keyword id="2422188" type="General" weightage="20" keywordseo="business-goals" source="Orion">business goals</keyword>. Raviteja Dodda, Founder and CEO of MoEngage, emphasised these principles during a compelling discussion with Jeff Klaus, Head of Worldwide ISV Strategy and Development at AWS India. This discussion is part of the <keyword id="6395918" type="General" weightage="100" keywordseo="saas" source="Orion">SaaS</keyword> Scions web series, jointly hosted by Business Insider India and AWS India. Dodda underscored the foresight required to anticipate how enterprise brands will leverage <keyword id="2582671" type="General" weightage="20" keywordseo="saas-products" source="Orion">SaaS products</keyword> in the next five years, stressing on the pivotal role of forward-thinking in fostering innovation and evolution within companies. This strategic approach involves meeting customers’ current needs and addressing future requirements, thus ensuring a cycle of improvement. The conversation delved into the significance of generative AI in enhancing customer experience and the interconnectedness between technology and innovation in the SaaS industry. Regardless of the industry, be it e-commerce, retail, or financial services, technology helps decipher consumer behaviour. By harnessing the power of AI-driven personalization and automation, enterprise companies can extract valuable insights about their customers, enabling them to craft more tailored and effective engagement approaches. Speaking about the importance of AI within his company, Raviteja outlined their journey – commencing with their investment in AI capabilities in 2016, just two years after the inception of their venture. They bring all engagement channels to one platform through strategic integration of AI and automation. This empowers <keyword id="2547868" type="General" weightage="20" keywordseo="consumer-brands" source="Orion">consumer brands</keyword> to guide customers through different life cycles and stages. By leveraging AI, MoEngage helps identify the optimal engagement moment for each customer and the type of content that drives high conversions, fine-tune the message cadence, and profile customers based on their propensities. Sharing suggestions and best practices that have helped MoEngage capture the market beyond India, Raviteja explained that they have constantly evolved their go-to-market (GTM) approach over the past nine years, especially in the SaaS landscape. Recognizing the time it takes to witness tangible results in SaaS endeavours, he emphasised the need to sow seeds in the present to drive growth in the future. "We have taken our GTM structure geographically and have GTM teams independently for each geography," Raviteja added. He credited their success to recruiting adept market launchers who spearhead the initial zero-to-one phase in each market, bringing seamless collaboration between sales, customer success, and marketing. For smaller SaaS enterprises grappling with uncertainties about initiating customer events or ensuring customer satisfaction, Raviteja advises leaping forward – underlining the direct correlation between brand awareness and accelerated growth. Sharing his top recommendations for others in the industry, Raviteja said that the first crucial resource is honesty about the product market fit, the right value proposition, and whether it resonates with the customer. "Don't be a tourist," he added. He cautioned against playing it by the ear in the initial months without a long-term plan. "Do different keywords to get up in terms of establishing the PMF, build a strong founding team, and scale it from there," Raviteja concluded. Raviteja's insights are a blueprint for navigating the dynamic SaaS landscape, advocating a blend of innovation, localization, and steadfast commitment to long-term goals. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them at <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

From good to great: How SaaS shapes the customer engagement of tomorrow for consumer brands?

<ul><li>The Indian <keyword id="10600982" type="General" weightage="50" keywordseo="B2B-SaaS" source="Orion">B2B SaaS</keyword> industry continues to have a bullish outlook for 2023 despite global headwinds. </li><li>Four out of 10 Indian B2B SaaS CXOs are targeting over 100% ARR growth. </li><li>The majority of such companies are from AI, HCM, Fintech and CRM/CDP SaaS segments.</li></ul>Unmoved by recessionary trends of the past year, the Indian B2B SaaS industry continues to have a bullish outlook for 2023, says a report by Ernst &amp; Young in partnership with Upekkha Value SaaS Accelerator. It states that Indian SaaS growth is highly capital-efficient by default, across stages. Eight out of 10 Indian <keyword id="6756963" type="General" weightage="100" keywordseo="SaaS-companies" source="Orion">SaaS companies</keyword> have a burn multiple of under 1.5x. Globally, a burn multiple of less than 2-3x is a good state for growth stage — companies with $1 million to $100 million Annual Recurring Revenue (ARR). “Indian B2B SaaS is about 2x capital efficient compared to its global counterparts. This places them well, when the capital ask shifts from ‘growth at all costs’ to ‘profitable growth’,” says Kamalanand Nithianandan, partner, Business Consulting, EY India. The growth outlook is balanced by financial and operational prudence, reflecting strong focus on building and scaling capital efficient businesses, says the report titled ‘Bellwethers of Indian SaaS’. <cmsannotation type="cmsannotation" annotationid="Targeting ultra &amp; hyper growth" comment="subhead2" text="Targeting ultra &amp; hyper growth">Targeting ultra &amp; hyper growth</cmsannotation> Insights from the survey reveal that four out of 10 Indian B2B SaaS CXOs are targeting over 100% ARR growth (ultra-growth). A majority, eight out of 10 CXOs, are targeting above 50% ARR growth (hyper-growth) in 2023, as per the survey conducted by EY India and Upekkha. The majority of companies tagreting ultra-growth are from AI, HCM (human capital management) fintech, customer resource management (CRM) and customer data platform (CDP) segments. The funding scenario for Indian SaaS companies is also expected to remain bullish. The report highlights that with expected economic recovery in the second half of 2023 and availability of dry powder within the SaaS focused Indian VC/PE ecosystem, funding activity is expected to gain traction. “This presents an opportunity for Indian SaaS companies with demonstrated profitability to raise capital at favourable terms and double down on growth,” the report says. Alternative funding instruments, such as convertible notes, were emphasized against the backdrop of access to equity funding due to rising inflation rates. According to the report, 60% of company CXOs reported product innovation, pricing changes and partner-led expansion as their top strategic priorities. Top challenge inhibiting growth was ‘delay in customer closure cycle’ for 51% CXOs, whereas sales inefficiency came next for over 41% CXOs. Hiring and retention continue to be a key challenge, but CXOs also emphasize on adopting reskilling and training strategies to mitigate the talent shortage risk. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/stock-price-run-up-in-paytm-nykaa-zomato-pb-fintech-delhivery-could-see-large-shareholders-cashing-out-bofa/articleshow/98274102.cms">Stock price run up in Paytm, Nykaa, Zomato, PB Fintech &amp; Delhivery could see large shareholders cashing out - BofA</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/vr-app-allows-users-to-revisit-memories-previously-recorded-on-their-smartphones/articleshow/98275527.cms">This app is straight out of Black Mirror — it lets you capture and revisit memories in virtual reality</a>

Indian B2B SaaS companies are 2x more capital efficient than global peers: EY report

The de facto norm for creating and integrating contemporary apps has been and continues to be application programming interfaces, or APIs. Simply defined, APIs allow software to communicate with other software, which frees up more developers to work on creating more applications faster and innovating better. Although businesses have been using APIs for a while, there’s been a shift in the way these interfaces are viewed within organizations. Today, many competitive, forward-thinking companies view APIs as software products that enable developers to open up new digital business models and prospects rather than merely as an integration tool to link programmes and data. To give us a broader perspective on this, Abhinav Asthana, CEO and Founder of Postman spoke with Felipe LaMaitre, Director of Developer Relations at AWS, as part of the SaaS Scions web series by Business Insider India to further elaborate on this. Then a Software engineer, Abhinav Asthana launched Postman in 2012 as a side project with the intention of making API testing easier. Today, Postman has more than 25 million registered users and 75,000 open APIs, making it the largest public API hub in the world. Driving factors behind Postman’s success Postman’s popularity can be attributed to the numerous small measures that the company undertook. Asthana's advice to fellow founders is to create a support network of colleagues within the workplace as well as family and friends outside of the business. This serves as the main driving force behind continued building. He reiterates that it is crucial to wait, consider, and list the pros and cons while developing, Asthana acknowledges the simplicity of creating software but advises founders to focus on product development rather than being consumed by operational aspects. “Software is much simpler to create because it doesn't require a significant initial expenditure. You only need a computer, the internet, free time, and some talent. To top it off, there are a tonne of materials online, some of which are even offered by AWS. Instead of getting so preoccupied with the operational aspects of beginning a business, such as seeking capital, setting up an office, and so forth, founders shouldn’t neglect what is most important at this time–developing the product,” he says. Balancing simplicity and complexity in software When asked how to keep things simple in a commercial world when markets and consumer needs are becoming increasingly complex, Asthana says it is "difficult to achieve." The term "software" in general is as wide as the ocean, with an equally enormous scope for improvement. One may always add new features and submit updates, but this leads to a slew of newer challenges. "Every update or upgrade is a component that must be carefully maintained, and the most difficult aspect is balancing all of the components." He notes the importance of introducing new features and simultaneously removing outdated, ineffective ones. APIs as the next big wave in SaaS APIs have been called the "next big SaaS wave." The software revolution began slowly, but in recent years it has skyrocketed, with the shift to software as a service, or SaaS, becoming the fastest-growing part of data. Asthana adds to this by saying, “Two decades ago, this industry was severely underserved on a global scale, with developers bearing the brunt of this". In actuality, however, APIs serve as the fundamental units of software, and since the early 2000s, developers have yearned for a better developer experience, including tools that make designing, documenting, and testing APIs more streamlined. As opposed to writing raw code, developers spend more time working with APIs. As a result, both tech and non-tech businesses have gone digital. Today he says, “APIs are essential abstractions in important industries including banking, healthcare, retail, and others. All of our aspirations for technology two decades ago have been surpassed by this”. However, the buck doesn’t stop here, more needs to be learned and developed, and Postman will play a crucial part in the expanding API business. Postman’s role in expanding the API business Lastly, Asthana spoke about how Postman is working on building and maturing the API market. “We currently work on two levels, informing leadership of the value of APIs for businesses. We also manage developer relations, a programme that is entirely devoted to developers and provides them with practical tools that they can apply right away in their line of work,” he said. He continued, “A student programme run by Postman links peers and the market with students who are open to using software services. Additionally, a lab is available for testing and simulation. All of this is covered by our curriculum for developer education.” "The second level is the executive education programme, which primarily works on getting executives together to produce educational content in the form of books and white papers,” says Asthana. The rapid growth of SaaS, exemplified by the success of Postman, underscores the transformative power of cloud-based software solutions. APIs have emerged as the critical component of modern software development. All knowledge workers will need an elementary knowledge of API. API embodies knowledge and enables us to use the digital tools at our disposal for efficiency while being informed, obtaining verified, trustworthy information, and staying up-to-date. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

Postman’s APIs to deliver the next wave of innovations: Leading the SaaS revolution from the front along with AWS

<ul><li>Cloud-based companies operating in the Indian market are pursuing a multi-product approach. </li><li>Previously, Indian start-up founders had to move to the United States to sell their products, but the pandemic has enabled Indian companies to sell remotely to both domestic and foreign customers. </li><li>Of the 2,364 startups funded in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> in 2022, 469 were cloud and Software-as-a-Service (<keyword id="6395918" type="General" weightage="20" keywordseo="SAAS" source="Orion">SaaS</keyword>) companies.</li></ul>As much as 4.7% of all the VC dollars that went into cloud-based companies in 2022 — flowed into India. Also, 2,364 startups were funded in India during the year, and 469 of them were in the cloud and Software-as-a-Service (SaaS) companies, said a report by <keyword id="290936" type="General" weightage="80" keywordseo="bessemer-venture-partners" source="Orion">Bessemer Venture Partners</keyword> (BVP). “Cloud spending in India grew nearly 22% last year, putting it nearly in line with the entire continent of Europe. Importantly, India’s growth in public cloud services spending vastly outpaces its overall growth in IT spending (2%), more so than for other geographic regions,” the report said. India currently has eleven Cloud and SaaS companies that are considered centaurs (a business that reaches $100 million of annual recurring revenue), which includes three companies that achieved centaur status last year. <cmsannotation type="cmsannotation" annotationid="Indian startups early adopters of multi-product strategy" comment="subhead2" text="Indian startups early adopters of multi-product strategy">Indian startups early adopters of multi-product strategy</cmsannotation> According to the report, cloud-based companies operating in the Indian market are pursuing a multi-product approach. Vertical SaaS firms are developing additional products that cover different stages of the customer journey, while horizontal SaaS companies are diversifying into other business segments that are related to their core offerings. The fact that the Indian cloud market is able to develop multi-product solutions rapidly is a testament to the country's skilled developer workforce and its customer base for SaaS products. Previously, Indian start-up founders had to move to the United States to sell their products, but the pandemic has enabled Indian companies to sell remotely to both domestic and foreign customers. <cmsannotation type="cmsannotation" annotationid="Indian SaaS companies are using AI to productise services" comment="subhead2" text="Indian SaaS companies are using AI to productise services">Indian SaaS companies are using AI to productise services</cmsannotation> The report finds that the Indian cloud market is also leveraging the potential of AI. “In particular, Indian SaaS companies are leveraging AI to help productise services,” says Anant Vidur Puri, partner at Bessemer Venture Partners. Notably, leading cloud companies are incorporating Language and Learning Models (LLMs) in conjunction with human resources. For example, Entropik uses facial expressions and tone of voice analysis to generate user research with emotional intelligence, while Leena AI assists HR teams in creating customised virtual assistants for their respective company's needs and culture, the report said. Indian startups are also leveraging the cloud to offer services and utilise LLMs to enhance accuracy and quality. For example, Pepper Content assists content creators in improving their work and has integrated AI into its quality assurance process, which is later reviewed by employees. Similarly, Perfios helps underwriters analyse credit profiles by using AI to gather and analyse data from various databases, providing lenders with a more complete view of creditworthiness compared to traditional banking methods. In India, AI is being used to improve job performance rather than replace humans. Last year, venture capital investors invested $53 billion in cloud companies outside the US and Canada, accounting for 42% of global cloud VC investment. Additionally, cloud and SaaS deals made up almost a quarter of all venture-backed startups worldwide. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/inflows-into-equity-mfs-hit-1-year-high-in-march-on-robust-sip-and-thematic-fund-investments/articleshow/99466043.cms">Inflows into equity MFs hit 1-year high in March on robust SIP and thematic fund investments</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/xiaomi-launches-a-new-line-up-of-air-purifiers-a-tv-and-a-vacuum-mop-in-india/articleshow/99464429.cms">Xiaomi launches a new line-up of air purifiers, a TV, and a vacuum mop in India</a>

Cloud spending in India grew by nearly 22% in 2022, says Bessemer Venture Partners

<ul class="summary-list"><li>With its coding capabilities, generative AI is making it <a href="https://www.businessinsider.com/chatgpt-ai-technology-end-of-coding-software-developers-jobs-2023-4">easier to develop software</a>.</li><li>This could disrupt the way software is created, distributed, and used, VCs and startup founders say.</li></ul>While <a href="https://www.businessinsider.com/everything-you-need-to-know-about-chat-gpt-2023-1">ChatGPT</a> has been wowing the public, behind the scenes investors and technologists are beginning to talk about a deeper disruption to the inner workings of the established software industry.A new potential framework for software, whose earlier iteration was coined <a href="https://www.researchgate.net/publication/341553733_Designing_and_Programming_Malleable_Software" target="_blank" rel="noopener"> "malleable software"</a> by researcher Philip Tchernavskij, describes a future where <a href="https://www.geoffreylitt.com/2023/03/25/llm-end-user-programming.html" target="_blank" rel="noopener">generative AI and humans work together</a> to customize tooling and even create entire applications.This outcome would flip the traditional software industry on its head, calling into question the value of <a href="https://www.businessinsider.com/software-as-a-services-explainer">SaaS</a> companies in a world where <a href="https://www.businessinsider.com/chatgpt-ai-technology-end-of-coding-software-developers-jobs-2023-4">everyday people can build software themselves</a>."No-code was the first step," said <a href="https://www.businessinsider.com/the-venture-market-is-surprisingly-rabid-says-investor-2020-8">Matt Turck</a>, a partner at venture capital firm FirstMark. "This is the final chapter of software eating the world, where a bunch of people can create enterprise software within the enterprise."This would represent quite a reversal for the industry. <a href="https://www.businessinsider.com/guides/tech/saas">Software-as-a-Service</a> companies have been the disruptors for a decade, not the disruptees. They have sky-high valuations because investors are betting their subscription revenue will continue steadily rising for many years to come. If generative AI really catches on, though, that future may look very different.<h2>Democratizing tech creation</h2>Venture capitalists and startup founders have been obsessed with the idea of democratizing tech creation for years, as seen by the <a href="https://www.businessinsider.com/no-code-low-code-rising-popularity-amid-remote-work-experts-2020-6">rise of low-code and no-code startups</a> like Airtable, last valued at $11 billion, and Webflow, which landed a $4 billion price tag last year.Some technical knowledge was still required to build most software. Now, though, the emergence of generative AI tools like <a href="https://www.businessinsider.com/codex-github-copilot-chatgpt-openai-productivity-2023-3">GitHub Copilot</a> has opened up the ability to generate code using just natural language, Ethan Kurzweil, a partner at Bessemer Venture Partners, told Insider.For Jake Saper, a general partner at Emergence Capital, the use cases that stand to be disrupted first are simple, low-risk tasks and applications in small and midsize businesses. These instances offer the lowest chance of business disruption and require the least cross-company coordination, he said.Vertical software companies taking existing technologies and making them easier to use in antiquated industries could also be under threat of replacement if their value-add is more around convenience versus actual product differentiation, Fika Ventures senior associate James Shecter said.Already, technologists have begun to use generative AI tools like Copilot to build simple apps, including a <a href="https://affiliate.insider.com?h=30c8e0a951bc0b06e06cd5e139d66c203579f067beaae835573ed17dc924f7b8&amp;postID=6467cbbf255dba48ea4393cc&amp;site=bi&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fpulse%2Fi-built-app-github-copilot-heres-result-simona-winnekes%2F" target="_blank" rel="noopener">trivia game</a> and a <a href="https://affiliate.insider.com?h=30c8e0a951bc0b06e06cd5e139d66c203579f067beaae835573ed17dc924f7b8&amp;postID=6467cbbf255dba48ea4393cc&amp;site=bi&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fpulse%2Fi-built-app-github-copilot-heres-result-simona-winnekes%2F" target="_blank" rel="noopener">site for discounted Amazon items</a>. Some later-stage tech startups are trying to get ahead of the curve by sharing the power of creation with their customers. One example can be found in knowledge base startup Guru's AI writing assistant, which lets customers create their own custom tones of voice using generative AI. This challenges the traditional idea of software as a rigid tool with a fixed set of available actions for users, Guru cofounder and CEO Rick Nucci told Insider."We've talked about 'platforms' in the SaaS world for a long time, the idea that someone can create a set of foundational building blocks that customers can configure and shape to be what they want," he said. "This is a step change that's actually happening."<h2>A new era for software</h2>Some VCs and founders believe that generative AI could not only transform the way we create technology but also the way we interact with it through ultra-personalization.For instance, new generative AI technology could help startups create user interfaces customized to each person's exact preferences, Bessemer partner Talia Goldberg said. Already, ChatGPT is showing early signs of this by choosing to provide certain responses in data table format, even when users don't specifically ask for that, she explained.In more extreme cases, entire tools could be generated by AI on the fly to replace common actions a user takes, CRV principal Brittany Walker said. In the long term, VCs like NEA partner Vanessa Larco and investor Elad Gil believe that <a href="https://www.businessinsider.com/why-autonomous-artificial-intelligence-agents-silicon-valley-latest-obsession-2023-5">autonomous AI agents</a>, rather than humans, will be the main entities interacting with software. One potential scenario could be a world where individuals have a primary AI agent that coordinates and manages a number of "micro-agents" capable of doing everything from text messaging to scheduling dinner reservations, Larco told Insider.These types of connections and interactions — the technical plumbing that currently makes different software programs work together — is the bread and butter business of many SaaS companies. If generative AI models can do this work automatically, what will happen to these SaaS businesses?<h2>A 'healthy pressure' for traditional SaaS providers</h2>To be sure, the death of the traditional software company still seems a long way off.First, the choice between building software yourself or buying from a third party brings with it a substantial opportunity cost."I don't necessarily want to sit on my computer for 10, 12, 15 hours developing this when I can go and find something that's ready out-of-the-box," CRV's Walker said. "The barrier would need to drop very low for a critical mass of people to start creating their own bespoke software."Additionally, paying an outside software vendor helps people put the burden of safety, maintenance, and accountability onto a third party, Emergence Capital's Saper said.However, even skeptics admit that the threat of generative AI to traditional SaaS will push established software companies to prove their worth. "It'll probably be healthy pressure because the 'build' decision may be more tempting because it'll be theoretically easier to do," Saper said. "It's going to put pressure on software vendors to really deliver value."Got it a tip? Contact Stephanie Palazzolo using a non-work device on encrypted messaging app Signal (+1 979-599-8091), email (spalazzolo@insider.com), or Twitter DM <a href="https://twitter.com/steph_palazzolo" target="_blank" rel="noopener">@steph_palazzolo</a>.

Welcome to the final phase of software eating the world. SaaS companies beware, you're on the menu this time.

<ul><li>Rapid <keyword id="11964795" type="General" weightage="20" keywordseo="digitisation" source="Orion">digitisation</keyword> has created an opportunity for software-as-a-service (SaaS) companies to scale like never before. </li><li>Business Insider India’s special web series <keyword id="15419506" type="General" weightage="20" keywordseo="saas-scions" source="Orion">SAAS Scions</keyword> in partnership with AWS saw Beerud Sheth, co-founder and CEO of Gupshup, in conversation with Tim Barnes (GM, Advertising and Marketing Technology Vertical), Amazon Web Services, on the digitisation journey in <keyword id="6359891" type="General" weightage="20" keywordseo="emerging-markets" source="Orion">emerging markets</keyword>, protection of user privacy, and more. </li><li>According to Sheth, for markets like India, the time is now.</li></ul>The next two decades could see the greatest amount of digitisation and “maybe even wealth creation,” according to Beerud Sheth, co-founder and chief executive officer of unicorn conversational messaging startup Gupshup. Sheth was speaking with Tim Barnes, General Manager, Advertising and Marketing Technology Vertical, Amazon Web Services, at the SAAS Scions web series by Business Insider India. “(It’s) the kind of growth you saw in China for the last two decades, and in the US maybe the two decades before that. The baseline for digitisation was low (in emerging countries), and there was an enormous need to e-enable every aspect of the business (during the pandemic). That’s just for companies focused on the Indian market. For companies focused on the global market, of course, India has enormous cost advantages, scale and so on,” Sheth said. Sheth noted the remarkable differences in the digitisation journey adopted by India (and other emerging markets) as compared to developed economies. “Some of it is obvious, the moment people couldn’t get into physical spaces, clearly all of it moved online,” he said. “Everything from online banking to commerce, to online education, and even some business use-cases. All of that then requires a lot more notifications, updates, interactions, and more. All of that created a huge spike in demand.” The digital play in emerging markets A large part of Gupshup’s business comes from emerging markets, where, unlike the western markets, the pandemic-driven spike in digitization didn’t subside once things started returning to normal. For Sheth, the transition to digital in emerging economies was a metamorphosis that saw no coming back. “There’s a slightly different impact on the emerging markets because of a variety of reasons,” he said. “There were a lot of local businesses, which before the pandemic (would say) I don’t need to do this or we’ll do it later. But this really was a shock to the system, and it really accelerated the adoption of digital tech and so on. And that is not a temporary spike, you digitise and then you’re digital forever,” he added. According to Sheth, for markets like India, the time is now. Rapid digitisation has created an opportunity for software-as-a-service (SaaS) companies to scale like never before. “Conversational messaging supports customers across the entire lifecycle, which includes the front end in the marketing side, in the middle around the commerce or purchasing side, and then in the post-purchase around support. Specifically, around martech, there’s a commensurate growth in use-cases, like people using it for lead generation, promotions, deals, offers and so on. So we’ve seen a massive growth spurt.” said Sheth. And this growth isn’t just with large enterprises, but significantly at the “lower end of the pyramid.” A restaurant or corner store didn’t have the same amount of time to digitise before the pandemic, but when customers stopped walking into the store, “what was once a nice to have, became a must-have.” Protecting user privacy However, he warned that SaaS firms must take company user privacy seriously while building their products. If privacy is an afterthought, Sheth reasons that it could disqualify firms from operating in certain jurisdictions since different countries have different requirements for compliance and user privacy. “We try to create federated solutions, which means it can be hosted in separate instances without needing to work with a centralised assistant. Which gives us the flexibility where different instances can support different privacy frameworks,” he advised. Establishing the new de-facto Beerud Sheth’s comparison of new-age chatbots to early internet-era websites demonstrates the potential for conversational messaging for businesses of all sizes. The company’s innovation, keeping in step with emerging cloud technologies and fine-tuned to various geographies, has unlocked a newer medium of communication which have radically transformed the very core of how businesses interact with their customers. If the old catchphrase,”The medium is the message” were to be recalled, then Gupshup is both the medium, and a strong message for every business that has a customer. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a target="_blank" class="c-link" href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

Emerging markets’ digitisation roadmap different from West: Gupshup CEO

<ul><li>Some of these companies include Hippo Video founded by ex <keyword id="265415" type="General" weightage="20" keywordseo="zoho" source="Orion">Zoho</keyword> employees and Niki founded by former Innovaccer employees.</li><li><keyword id="4621694" type="General" weightage="20" keywordseo="freshworks" source="Orion">Freshworks</keyword> and <keyword id="2760306" type="General" weightage="20" keywordseo="chargebee" source="Orion">Chargebee</keyword> are also founded by former employees of Sridhar Vembu-led Zoho Corporation.</li><li><keyword id="4360787" type="General" weightage="20" keywordseo="indian-saas-companies" source="Orion">Indian SaaS companies</keyword> — both old and new — have created over 62,000 jobs in India in 2021 so far.</li></ul>Over 500 former employees of India’s top fifteen software-as-service (SaaS) companies — like Zoho, Freshworks and others — have founded their own companies, a recent report by Bain &amp; Company revealed. The report noted that these 500 employees have created more than 5,000 employment opportunities. Some of these companies include Hippo Video, SurveySparrow, Facilio founded by ex Zoho employees, Slintel founded by former Eightfold employees and Niki founded by former Innovaccer employees. Freshworks and Chargebee are also founded by former employees of Sridhar Vembu-led Zoho Corporation. Collectively, Zoho has contributed nearly 133 entrepreneurs to the Indian startup ecosystem. <div type="image" title="Zoho, Freshworks and top Indian SaaS companies have given 500 entrepreneurs to the Indian Startup ecosystem" msid="88145268" hostid="261"></div> The report further suggests, “50% of founders, new companies, and resulting job opportunities are coming from emerging <keyword id="9700532" type="General" weightage="20" keywordseo="indian-saas" source="Orion">Indian SaaS</keyword> companies.” The Indian SaaS report of 2021 further highlighted that the Indian SaaS companies — both old and new — have so far created over 62,000 jobs in India this year alone. These job opportunities are spread across professionals skilled in cloud, artificial intelligence and machine learning, product management and advanced analytics like data engineers, data scientists and more. <div type="image" title="Zoho, Freshworks and top Indian SaaS companies have given 500 entrepreneurs to the Indian Startup ecosystem" msid="88145301" hostid="261"></div> Indian SaaS companies are poised to reach $30 billion in revenue, capturing 8% to 9% share of the global SaaS market by 2025, the report by Bain &amp; Company added. Meanwhile, a report by investment firm Chiratae Ventures and consulting firm Zinnov released in June noted that the Indian SaaS segment has the potential to clock a <a href="https://www.businessinsider.in/tech/enterprise/news/amazon-twitter-hyundai-and-dominos-are-buying-indian-software-fuelling-a-75-billion-dream-chased-by-top-vcs-like-sequoia-and-tiger-global/articleshow/85646116.cms">total turnover of $75 billion by 2025</a>. The Bain &amp; Company report also noted that the investment in this space is expected to reach $4.5 billion in 2021. “While the overall growth in funding has been driven by an increase in deal volume across stages, there has been notable growth in the volume of deals larger than $50 million, as investors give a clear vote of confidence in the potential of Indian SaaS companies to achieve substantial future growth,” Arpan Sheth, who is a partner and leader at Bain &amp; Company’s Global Vector Solution Group, said. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/indigo-stock-gains-as-a-plea-to-shut-down-spicejet-has-been-admitted/articleshow/88138734.cms" style="">Indigo stock gains as a plea to shut down SpiceJet has been admitted</a> <a href="https://www.businessinsider.in/business/news/zoho-is-selling-its-video-calling-app-in-as-many-ways-as-possible/articleshow/88137006.cms" style="">Zoho is selling its video calling app in as many ways as possible</a> <a href="https://www.businessinsider.in/india/news/these-are-the-states-with-confirmed-cases-of-omicron-covid-19-strain-in-india/slidelist/88138240.cms" style="">Omicron in India — Maharashtra and Rajasthan have recorded 19 positive cases so far</a>

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