Indian Mid-Sized Firms Adopting SaaS To Beat Global Cos
Indian mid-market software firms are increasingly leveraging Software as a Service (SaaS) to offer disruptive advantages to customers, according to a new study. The report titled: “Indian Mid-market SaaS companies: Forging a new path to disruption,” has been released under the umbrella of Microsoft’s ‘Think Next initiative’ by Microsoft Ventures and iSPIRT Foundation, and is a compendium of lessons from a Think Next panel discussion held in May 2014.
According to the report, India’s software product companies targeting the mid-sized enterprise market and the competitive advantages sets them above their western counterparts. It looks specifically at how these companies are adapting their SaaS offering to meet the unique requirements of medium sized business.
The report, co-authored by representatives from both Microsoft Ventures as well as the iSPIRT Foundation aembarks the mid-market SaaS companies as a distinguished category within the software products industry, and is based on three key pillars including Digital immersion, Desk selling and marketing, and Cloud-based customer engagement.
The three key pillars outlined in the report are:
- Digital immersion: This is used to quickly identify customer problems and develop use-cases. It enables the rapid development of Minimum Viable Products (MVP).
- Desk selling and marketing: This level of sales engagement brings down the cost of customer acquisition. It also provides companies with an increased base of potential customers in a shorter period of time.
- Cloud-based customer engagement – using digital trails on the Cloud to capture customer behavior and interactions with the product in real-time helps these companies quickly adapt to changing customer needs and sharpen the product development roadmap.
Sanjay Shah, MD, Invensys Skelta and iSpirt Fellow said, “With the launch of this report, we are looking to further understand the dynamics of the mid-market SaaS companies as a unique category within software product companies in India. We will continue to foster talks and take this discussion forward, and our next step would be to delve deeper into the three pillars of their business strategies.”
“This report is a refreshing perspective on the startup ecosystem, and showcases how Indian software developers are adapting to the unique requirements of the local market to deliver value to their customers. It highlights the unique product development cycle being adopted by these companies and also provides some guidance on how these companies should be evaluated,” said Ravi Narayan, Director, Microsoft Ventures in India, speaking on the occasion.
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