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Top 20 SaaS Companies of 2023

Software as a Service companies are reshaping the world as we know it. Every day, there’s a new innovative software solution all set to be launched. The cloud computing market is directly responsible for the growth of SaaS Companies. 

Investors globally want to invest in innovative SaaS Solutions all set to change the world. This has led to a huge number of SaaS companies flooding the markets. Which ultimately has made the consumers confused.

New SaaS Companies are being launched and old-age market-leading software companies are gladly engaging with new companies for collaborations. Every old software company is also trying to relaunch itself as a SaaS company. 

Some companies are experiencing great results by moving toward the SaaS environment. Some other companies have been absorbed by giants for their resources. 

In this article, we’ve mentioned the top 20 SaaS companies of 2022. These companies are impacting our lives directly or indirectly. 

What is Software as a Service?

Software as a Service is a software delivery model where a consumer pays for the monthly/quarterly/annual license of the software. The software is hosted on a server, and multiple users can take advantage of it. 

The software provider can license the software to as many users as they want. 

Use Case of SaaS Solutions

SaaS solutions have multiple use cases. The first and foremost is server hosting services. The vendor provides the software and hosts it on their servers. Customers can access the apps using web browsers, or APIs. 

Cloud computing is also a use case for SaaS, it allows users to get access to additional storage and processing power without needing to invest in hardware. 

Top 20 SaaS Companies in 2023

This list is based on my personal opinion. This list in no way or form a ranking of SaaS companies in the world. 

  1. Salesforce

Salesforce is a giant when it comes to the SaaS industry. The company can be credited for the launch of customer relationship management software. Now, Salesforce offers other services as well, including:

  • Platform development
  • Machine learning
  • Marketing
  • Analytics
  • Social networking

Salesforce is one of the most ambitious cloud software solution providers in the market. And in the Q1 of March 2022, the company reported a market cap of $208.91 billion. 

  1. Microsoft

Microsoft has been leading the technology industry since its inception. Now, Microsoft is one of the leading SaaS Companies in the world. They offer Office 365, a cloud-based toolkit of office productivity solutions. 

  • Microsoft’s offerings go way beyond Office 365. It also offers:

    Dynamics CRM
  • SharePoint Collaboration
  • On-demand SQL Server Database

Microsoft is also investing in customer acquisition tools, customer onboarding tools, and other tools. These solutions are sure to push Microsoft to the top of the list. 

  1. Adobe Creative Cloud

Everyone is familiar with Adobe. Ever since they moved their creativity apps to the cloud in 2012, they’ve grown exponentially. All their audio, video, and image creation tools are now available via cloud-based SaaS Subscription models. 

Their services are ideal for graphic designing, video editing, photo editing, and even web development. 

  1. FreshBooks

FreshBooks is a leading cloud-based accounting software solution. It powers small and medium-scale businesses to bill their clients, and keep track of hours spent with clients. 

  1. Google Workspace

Google Workspace is a collection of all the individual services offered by Google. You can get these services individually too, but with Google Workspace, there are some other services available to users such as 24/7 support.

These SaaS solutions come at a subscription, but it’s worth it as you’re getting some additional benefits. Plus, you get the benefits of Google Cloud and its large collection of business productivity solutions.

  1. Paychex

Paychex is one of the oldest SaaS companies on our list. They’ve been helping companies manage their finances and Payroll since 1971. They’ve held onto their customer base by moving over to the SaaS model at the right time.  

They launched their SaaS services for Payroll, time and attendance, training, HR, and benefits in 2013.

  1. Zendesk

Zendesk is a customer service and customer support solution provider. With time, they’ve moved onto the SaaS model and have been doing incredibly well. 

They offer services such as:

  • Support tracking 
  • Purchase tracking
  • Billing
  • Shipping

According to reports, Zendesk had a market cap of $14.68 billion in Q1  of 2022. 

  1. Xero

Xero is another cloud accounting software for small businesses. Xero’s main features include:

  • Automatic bank
  • Credit card account updates
  • Invoicing
  • Accounts payable
  • Expense claims
  • Fixed asset
  • Purchase orders
  • Business and management reporting

Xero is one of the best SaaS companies in the world. 

  1. GoToConnect

GoToConnect, more famously known as LogMeIn is a connectivity app. It offers to provide cloud-based communication and conferencing services. It’s a brilliant solution for customer engagement and support. Businesses all over the world use it for remote management and support. 

  1. RingCentral

RingCentral is a SaaS-based business communication solution for multiple organizations. Their services include messaging and other video options. This makes business internal communication super easy. 

Their premium solution, RingCentral Office, offers multiple services including conferencing and messaging. 

  1. Intuit

Intuit is incredibly famous for its “Do it All” bookkeeping solution named QuickBooks. There is other software as well:

  • Quicken
  • TurboTax
  • Mint

All of these software solutions can be used with their cloud versions. These makeup up 1/3rd of the company’s overall profits.

  1. ServiceNow

ServiceNow is one of the top-rated SaaS companies that deals in:

  • ITSM (IT Service Management)
  • ITOM (IT Operations Management)

They offer real-time communications, collaboration, and resource sharing. Their solution works best for IT, HR, security, customer service, software development, marketing, finance, and the legal industry. 

  1. Cisco

Cisco is a SaaS Solution provider that deals in security and business communication needs. Cisco owns WebEx, a video conferencing tool, and Spark, a team collaboration tool. 

  1. GitHub

GitHub has recently made a name for itself in recent times. It is a leading software development tracking and version control hub. GitHub is mostly famous because of open-source software projects. It allows for complete project management services, which include version control, and splits/forks management. 

  1. GoToMeeting

GoToMeeting is an online meeting platform that makes a secure connection between two or more devices for a meeting. There’s no other way to put it. It’s that simple, and it’s a leading SaaS Solution.

  1. Twilio

Twilio is another cloud-based communication company. Twilio users can use several web languages to build apps that include Voice, VoIP, IP to traditional telcos, and SMS services. 

App developers can integrate video, voice, and messages into their app using Twilio. 

  1. Workday

Workday is another best SaaS company that deals in financial management and HR management. Their main clientele is most enterprises and complex global industries. They also target governments to increase their customer base. 

  1. HubSpot

HubSpot is a cloud-based marketing software solution. It offers tools for:

  • Social media marketing 
  • Content management
  • Web analytics
  • Customer service
  • Customer support
  • Search engine optimization and more

Hubspot is also considered an all-in-one tool for many businesses. 

  1. Slack

Slack is loved by enterprises for its collaboration platforms. Now that Slack is owned by Salesforce, its services are expected to become better and broader. Slack is based in San Francisco and it’s one of the best SaaS company in 2022. They offer messaging, archiving, and search for teams. 

  1. DocuSign

Millions of businesses every day use DocuSign for their needs. It’s a SaaS company based in San Francisco. It started as an ePlatform for digital signatures for legal documents. Over time they’ve expanded into data workflow automation for small and medium-scale businesses.

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