Top 6 Cloud SaaS Companies
Cloud technology and software as a service (SaaS) works within enterprises across industries. SaaS can be expensive, but by using cloud technology, the price and efficiency will increase.
Big technology companies such as Salesforce and Microsoft have created their own cloud SaaS, but they are among competitors, including Box, Oracle, and Intuit.
Salesforce is a top SaaS company that launched the concept based on customer relationship management (CRM). It has since expanded into platform development, marketing, machine learning (ML), analytics, and social networking. The company is considered one of the most innovative cloud software solution providers on the market and generates most of its annual recurring revenue from its cloud SaaS tool set. As of March 2022, Salesforce has a market cap of $208.91 billion.
One of the pioneers in business technology, Microsoft has since become one of the largest SaaS companies in the world after moving its desktop productivity suite Office 365 to the cloud. Now, Office 365 outsells the packaged, client version, and it offers Dynamics CRM, SharePoint collaboration, and even SQL Server databases on demand.
The Microsoft team also heavily invests in customer acquisition, customer onboarding, customer success, and customer retention, which makes it a strong contender for enterprise customers with a wide array of customers.
Another software giant that turned to SaaS, Oracle has moved all of its line of business on-premises apps to the cloud, including enterprise resource management (ERP), CRM, supply chain management (SCM), human resources (HR), and payroll.
The company also acquired NetSuite in 2016, which sells CRM to small and midsize businesses (SMBs) not normally served by Oracle and Salesforce. As of March 2022, Oracle has a market cap of $218.25 billion.
Veeva Systems develops several types of cloud-based applications, targeted at cloud-based industries like life sciences. With the help of these apps, the industry can assist with data, customer relationships, and content management. Because they are cloud-based, these apps can be accessed easily in an organization’s environment.
Another software company that made a successful pivot to the cloud, Intuit has converted its flagship finance and tax prep software Quicken, QuickBooks, TurboTax, and Mint to on-demand, cloud-based versions. These solutions now account for three-quarters of all company revenue and are a huge factor for planned revenue growth.
Cvent, a solution acquired by Vista Equity Partners, is a cloud-based event management and planning platform. It offers features that allow planners to manage all aspects of an event, such as online event registration, venue selection, event management, mobile apps for events, email marketing, and web surveys.
Druva offers cloud-based comprehensive backup, recovery, and archival services for cloud business apps like Office 365, Google Suite, Box, and Salesforce with full data visibility, access, and compliance monitoring.
Box started as a cloud storage firm but has expanded to offer file collaboration and editing services for files stored on its servers.