It’s impossible to navigate any news media or business conversation without hearing the terms “SaaS” and “B2B”; often paired together. The ubiquity of these terms comes down to their global implementation. Regardless of company size, most business technology today follows a SaaS model. So what does this mean, and why is it tethered to the ominous tag of “B2B”?
SaaS is an abbreviation for software-as-a-service, and is in essence a method of delivering software. Also known as cloud-based software, SaaS allows freedom from tedious hardware setup, offering greater flexibility and agility in development, collaboration and product delivery. This versatile model allows businesses to access information across devices and locations quickly and securely. Such features have driven the rapid growth of the global SaaS market which is widely expected to cross the $200 billion mark over the next few years.
Total size of the public cloud software as a service (SaaS) market from 2008 to 2020
(in billion U.S. dollars)
SaaS delivery itself can be further formatted per the target customers, which brings us to B2B. Another abbreviation, the term B2B simply indicates that the software is intended to be used by other businesses – the delivery is form one business to another, as opposed to from a business to an individual consumer (B2C).
The SaaS B2B business model is omnipresent, with thousands of examples around the world. Some of these companies to look out for include:
Hubspot offers an entire marketing, sales and customer success sweet, with powerful emailing and CRM capabilities.
Mailchimp streamlines marketing by offering powerful email tools that give businesses control of their messaging and outreach.
Best known for Jira, it’s ticketing tool, ATlassian offers a suite of project management tools for teams of different sizes.
NachoNacho issues virtual cards to help businesses manage their software subscriptions, with deep customization capabilities.
A widely used productivity tool that helps teams collaborate and share information in real time.
Companies such as Slack and NachoNacho among others also offer a marketplace where businesses can find new SaaS B2B tools to interact with. Larger enterprises such as Google and Amazon operate B2C, while also offering Saas B2B tools. Businesses are now more spoilt for choice than ever before with the growth of this software delivery method.