Software-As-A-Service Market Boom: A Blessing in Disguise for Salesforce

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If the history of customer relationship management (CRM) had to be revisited, Salesforce would definitely be a chapter which one cannot afford to miss. The contribution of the organization and most importantly, its CRM product amplifying the abilities of back offices in enterprises across the globe deserves a special mention. The platform can be seamlessly integrated with existing processes and can elevate their capabilities. The introduction of the product was a huge respite for payroll team members for the convenience it ushered in their routine activities. The software platform is touted as the best in the world and embraced by many organizations worldwide for their customer relationship management activities. Several media reports have stated that the CRM platform has been largely embraced by organizations looking to get rid of the inefficiencies of the age-old pen-and-paper system. The recent times have seen an increase in the adoption of Salesforce due to the rising awareness of the advantages of Software-as-a-service (SaaS) platforms. Salesforce continues to be the go-to name among organizations transitioning from a legacy environment to the cloud. In the current climate of digitization and data explosion, which has been occurring at an exponential rate, adoption of cloud infrastructure has become inevitable for most businesses. Thus, SaaS has become a term that has got techies worldwide raving today.

A report published by research giant Gartner stated that SaaS is the largest segment of the cloud market today and industry veterans and experts predict that sales are expected to rise by 22 percent to around $73.6 Billion later this year. In the past couple of years, Microsoft had a large role to play in the rapid growth of the SaaS market, with its suite of collaboration, CRM and enterprise application software contributing to this significant change. Adobe, SAP, IBM, and Cisco are other organizations that are largely responsible for this change, or rather the large fluctuation in numbers. The rising popularity of the cloud model and the SaaS approach has undoubtedly been a catalyst in enhancing the growth of Salesforce and increasing the number of users of its CRM tool. – Read more

 

Blissfully grabs $3.5 million seed investment to help companies get their SaaS in gear

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Blissfully, a New York City startup that helps companies understand their SaaS usage inside their organizations, announced it has received a $3.5 million seed round.

The investment was led by Hummer Winblad Venture Partners. Hubspot, Founder Collective, and several unnamed pre-seed investors also participated. They got a $1.5 million pre-seed investment, bringing the total so far to $5 million, according the company.

Company co-founder and CEO Ariel Diaz says Blissfully actually helped him and his co-founder solve a problem they were having tracking the SaaS usage at their previous startups. Like many companies, they were using spreadsheets to track this information and they found it was untenable as the company grew beyond 30 or 40 people. They figured there had to be a better way, so they built one.

Their product is much more than simply a database of the SaaS products in use inside an organization. It can integrate with existing company systems like single sign-on tools such as Okta and OneLogIn, financial reporting systems and G Suite login information. “We are trying to automate as much of the data collection as possible to discover what you’re using, who’s using it and how much you are spending,” he said. – Read More

Does prospecting really work?

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Across 30+ SaaS investments, I can say the answer is Always, as least in SaaS.

But how much, and when to phase it in, varies.

Prospecting and outbound is an art. What is hard is it to get outbound and prospecting going with (x) a founder with no passion for it, and/or (y) with sales reps that have only done inbound.

If you have only done in-bound, then prospecting and outbound will seem incredibly tedious, very slow, and frustrating. You’ll likely never close anything.

But I’ve yet to find a category, from contact centers to search to voice to software testing to fleet management to recruiting to training and more, where outbound didn’t work — at least once you had someone doing it with some experience and passion around it.

The next question then is, if it works, will it work enough?

Certainly, the lower your price point, the harder it is to make traditional prospecting work. With bigger deals, it’s easier to target named accounts, take the time you need to personalize the outreach, and invest what it takes to get there.

Second, the % of revenue from outbound can vary widely. In some start-ups, it’s an “extra layer”, another 10%-20% growth. In others, it’s the primary acquisition channel, at least until the brand really takes off. There’s always more revenue to be had through outbound.

But in the early days, you do need to stick to what you are good at, or at least, the least bad at. If you are scared to do prospecting and/or can’t bring yourself to it, find a way to otherwise generate demand. Then hire someone later to own it. – Read More