Dear Job Seeker: Here’s Why a Career in SaaS Could Be Ideal for You
The Software-as-a-Service (SaaS) industry has experienced explosive growth over the last few years. It has especially been a bright spot for the Indian IT industry. So much so that the Indian SaaS ecosystem could reach a valuation of $1 trillion over the next 10 years, with nearly half a million new jobs to be created.
Here are a few more interesting stats about the Indian SaaS industry –
- Indian SaaS companies are expected to grow at a CAGR of over 30% during 2020-25
- The share of Indian SaaS companies in the global business is expected to grow to 8-9% from the existing 4-5%
- The investment in Indian SaaS companies has grown by 170% in 2021
- The number of SaaS exits doubled from 6 in 2018 to 12 in 2021, with Freshworks’ Nasdaq listing initiating a new wave of exits
For job seekers, SaaS thus offers a fast-paced and exciting industry to build a career. In this article, we’ll talk in detail about why it’s a great time for you to consider a career in SaaS.
We’ll also discuss the factors that’ll help you determine whether a career in SaaS is ideal for you. So, let’s begin.
Why is there so much hype around SaaS?
This is simply because of the sheer number of benefits this technology offers.
SaaS refers to a subscription model where end-users get access to cloud-based software. It involves accessing a software via the internet instead of installing and maintaining the software on personal devices.
SaaS, also known as on-demand or web-based software, frees users from complex hardware and software management.
It is becoming the go-to option for many organizations because of the following reasons –
- Cost-effectiveness – SaaS offers significant savings since it eliminates the need to purchase and install software. The popular pay-as-you-go model allows businesses to cut down costs. Even small businesses can access high-powered software at nominal costs.
- Flexibility – SaaS offers impressive flexibility since it’s hosted on the vendor’s server. Due to this, organizations have the choice to change their plan or software without any hassle.
- Scalability and accessibility – SaaS is easily scalable since organizations can opt for more powerful features as their organization grows. Since the software is hosted on remote servers, organizations can easily upgrade their software. Additionally, since it’s hosted on the cloud, users can access their data effectively from anywhere.
- Customization – SaaS allows easy customization so it can fulfill specific business needs without affecting the common infrastructure. It allows companies to make upgrades more often, with lower adoption costs.
- Updates – SaaS offers quick updates without having to make massive upgrades.
- Security – SaaS is often safer than traditional software since the data can be stored in multiple data centers instead of a centrally located hub.
The flourishing SaaS landscape in India
SaaS solutions are not only innovative but also more efficient and agile. This, along with other key benefits, is driving the growth of SaaS in India.
The early wave of success for Indian SaaS companies came through targeting SMBs in the US. However, we are starting to see the emergence of SaaS companies that are cementing their roots within larger enterprise customers.
The overall SaaS revenue is expected to grow to $30 billion over the next 5 years.
Such tremendous growth has been possible because of –
- The availability of a wide talent pool stemming from a large IT workforce in the country
- A large number of talented tech-skilled fresh graduates in the country
- SaaS founders’ ambition to go global
- Capital efficiency, i.e., bringing competitive products to the market at a fraction of the cost compared to Western markets
- Excellent customer support
Zoho can be a perfect example – A bootstrapped company that has not only been profitable but also managed to position India globally in the SaaS space.
The report ‘Shaping India’s SaaS Landscape’ also highlights the following –
- There are about 1000 SaaS companies based in India
- The combined revenue of pure-play SaaS companies in India is around $2.6 billion
- There are more than 150 Indian SaaS companies having an ARR of >$1 million
- There are 10 Indian SaaS unicorns
- There have been around $4 billion total VC investments in Indian SaaS companies over the last 5 years
- More than 40,000 people are employed by Indian pure-play SaaS companies
The report also highlights that Covid-19 played a big role in the growth of SaaS by forcing organizations to accelerate digital transformation.
Top Indian SaaS companies in 2021
The number of SaaS companies in India has consistently grown over the last few years. With a global approach, India continues to bring new SaaS startups to the fore. Here’s a visual representation of the top SaaS companies in India right now.
Indian SaaS companies are continually developing their understanding of global business conditions which helps them customize their offerings for global audience.
Career paths in the SaaS industry
Here are 5 key career paths that you can choose within the SaaS industry –
- Software development – As part of this team, you’ll be directly responsible for developing and testing the actual software that’s being sold by the company. The software engineering team forms the core of any SaaS company.
- Product management – As a product manager, you’ll be responsible for overseeing the creation and maintenance of the software/product. It will be your job to ensure that the team works effectively during the development, launch, and lifespan of the product.
- Project management – Although often confused with product management, project management has a much wider scope. It’s about ensuring that all pieces fit together and work in a cohesive way.
- Marketing – As part of the marketing team, you’ll be responsible for creating awareness about the product. You’ll have to generate conversations about the product as well as bring people into the sales funnels.
- Sales – Once the marketing team brings customers in the sales funnels, it’s the responsibility of the sales team to convert those into paying customers.
What does a career in SaaS offer?
If you are looking for a career change, this could be the right time for you to be a part of a SaaS company. A career in SaaS can prove to be fruitful and exciting since SaaS is one of the fastest-growing and most lucrative markets right now.
The quick growth of the sector is opening up the job market like never before.
If you choose a career in SaaS, you can benefit from the following –
- Tons of viable career paths
- Stimulating and intellectually challenging work environment
- Performance-based compensation
- Multitude of opportunities
- Work flexibility
- Higher salaries
Conclusion - Should you consider a career in SaaS?
In one word – Yes.
Thanks to the rapid growth of SaaS, new opportunities are opening up every day. The ever-growing number of SaaS companies means you have a chance to be a part of high-intensity growth.
SaaS has just begun its growth trajectory and it’s going to become a dominant business model in the years to come. Given the current state, now is the perfect time to choose a career in SaaS.
Dresma is no exception – We are a fast-growing SaaS company looking for talented people to join us in our growth journey. To know more about the available opportunities, click the button below.