Greetings! The tech industry has been facing some challenges lately, but guess what’s holding strong and even growing? B2B SaaS is the rockstar here. These solutions for businesses are using data and analytics to really up their game—understanding customers better, improving products and services, and making everything data-driven for top-notch performance. And because they’re scalable and bring in reliable recurring revenue, B2B SaaS companies are like the cool kids everyone wants to hang out with, even on the acquisition scene.
If you’re curious about the trends shaping the SaaS landscape in 2024, you’re in the right place. In this edition of This Week in Consulting, we delve into the current market status, the growing significance of AI, the role of ML, SaaS security, the ascent of vertical SaaS and Data-as-a-Service, the shift to PaaS, market consolidation, SaaS superapps, the rise of iPaaS for improved connectivity, and more.
We also address the fundamental question of how SaaS differs from other cloud computing models, its widespread use by consumers and businesses, and the key benefits users derive from SaaS applications. Our exploration extends to IBM’s Playbook, unveiling specific strategies for all B2B SaaS companies to sustain growth, especially in go-to-market strategies and commercial operations.
In addition, we analyze the challenges faced by life insurance carriers and advocate for SaaS delivery models in developing new business and underwriting systems. For non-tech companies grappling with growth hurdles, we explore why considering software-as-a-service (SaaS) could be a valuable avenue for revenue enhancement.
Take the plunge into this insightful read, and feel free to share your insights as well.
Chairman Consulting Quest
This week’s must read
In this edition of This Week in Consulting, we explore latest trends, innovative strides, and the challenges that shape the chemical industry.
BCG’s article highlights the robust growth of B2B SaaS in the tech industry, growing 10 times faster than other segments. The playbook suggests key strategies, including lead-scoring, sales funnel automation, leveraging word-of-mouth, segmented channel strategies, and capitalizing on customer usage insights for sustained growth.
This week’s media
In this video, Jason Goode with IBM Cloud, explains how SaaS differs from the other cloud computing models, how it is commonly used by both consumers and businesses, and some of the key benefits users gain from using a SaaS application.
Accenture’s report underscores challenges for life insurance carriers, advocating SaaS delivery models for new business and underwriting systems. The Navy Mutual case study illustrates benefits such as cost savings, scalability, and faster deployment. Automated systems promise to reduce costs and risks, optimize talent, and drive growth.
Indian B2B SaaS firms, driven by DeepTech, are gaining global prominence, with 99% adopting AI/ML solutions. A report by EY and NASSCOM highlights inventive DeepTech’s potential for 30%-50% growth. Challenges include talent scarcity, patient capital, and infrastructure gaps. Enablers include open data access and collaboration with academia.
This article by Datapine highlights key SaaS trends for 2024. It emphasizes AI’s role, the importance of ML, SaaS security, the rise of vertical SaaS and Data-as-a-Service, migration to PaaS, market consolidation, SaaS superapps, the emergence of iPaaS for enhanced connectivity, and more.
McKinsey suggests non-tech companies facing growth challenges explore software-as-a-service (SaaS) for revenue boost. The article highlights six key areas, including customer-centric innovation, capitalizing on digital assets, and planning for scalable SaaS products from day one, emphasizing cloud infrastructure and financial operations mastery.
This week’s consulting news selection
Deloitte Canada has acquired Flow, a Toronto-based firm specializing in scientific research & experimental development (SR&ED) tax credits.|
Grant Thornton LLP, one of America’s largest providers of audit and assurance, tax and advisory services, has named Alley-Oop Kids to its Purple Paladin program, which helps emerging nonprofit organizations move from “start-up to unstoppable.”|
Ankura, a New York-headquartered management consultancy, has acquired Lumeri, a Denver-based boutique organizational consulting firm.|
Sia Partners, a leading international, independent next-gen management and AI consulting firm announces the acquisition of Notion Consulting.|
Laurent is the Chairman and Co-founder of Consulting Quest. Focused on greater value creation, and being thoroughly familiar with Consulting, Laurent has sourced and sold millions of dollars worth of Consulting over the course of his career. Prior to joining Consulting Quest, Laurent was Executive Vice President Oil and Gas at Solvay and Senior Partner Transformation at Oliver Wyman.