Enterprise tech start-ups in India are scaling up rapidly. Mainly because their products and services are fulfilling the market need where tech giants need assistance.
Enterprise tech start-ups offering B2B SaaS technology don’t need to go far since organisations big and small in India are actively looking for B2B SaaS technology solutions.
Contract Management technology
Contract management technologies are trending in the enterprise tech space with tech bigwigs in need of cloud contract management.
Cloud contract software essentially moves paper-based payments and compliance documents to the cloud for automation.
An Indian start-up which has successfully hopped on this technology trend is ‘Icertis’, a Pune-based company which recently raised $80 M in a series F funding round. This investment has raised its valuation to over $2.8 B.
The next trend in enterprise tech has been the interest regarding retail technology among big investors. Retail tech is a technology which offline retail stores can leverage to shift their operations to the cyberspace.
Retail tech involves cloud-based POS (point-of-sale) or mobile POS which offline retailers can use to quickly migrate their store on to mini app stores run mostly by UPI apps like PayTM without much of a hassle.
Also, retail tech and cloud-based POS empowers offline physical stores to move their inventory and checkout process to cloud management.
The latest path breaking retail tech start-up in India is a Gurugram-based start-up ‘DotPe’.
DotPe is a retail-tech start-up that has received $27 M in a series A funding round backed by tech giants including Google and PayU.
This is not new in enterprise tech but the market for B2B SaaS technology is seeing increasing demand within the country. Enterprise tech start-ups offering B2B SaaS technology don’t need to go far since organisations big and small in India are actively looking for B2B SaaS technology solutions.
The domestic SaaS market is seeing renewed interest coming from small business customers. B2B SaaS technology platforms help businesses boost revenue while driving greater team efficiency and productivity by integrating multiple business operations like Finance, Human Resources, Customer Service, etc.
This technology is highly customized and personalised to suit different business needs. Typically, an enterprise tech start-up joining the B2B SaaS trend will have to be prepared to provide customized, scalable solutions for a multiple industry, versatile clientele.
B2B SaaS is an enterprise tech trend which caters to other segments within enterprise tech like EdTech, fintech, etc.
‘Leadsquared’ is a fine example of a B2B SaaS start-up which raised INR 240 Cr late last year in a Series B funding round backed by existing and new investors including Gaja Capital, Stakeboat Capital, and Jyoti Bansal.
Leadsquared is a Bengaluru-based start-up which offers sales automation software for its customers.
What’s in it for me?
Enterprise tech is a lucrative industry currently and despite the pandemic, investments have come in even for corporate travel enterprise tech start-ups.
Start-ups offering solutions to large organisations backed by modern technologies like Machine Learning will do exceedingly well.
SaaS start-ups offering cloud usage are expected to scale up rapidly.
Owing to equal opportunity for growth, Indian B2B SaaS start-ups are currently the best direction to take in enterprise tech.
Combining deep and emerging technologies along with cloud functionality is the best approach to take for Indian B2B SaaS start-ups.