StartupTalky

Tag: SaaS Startups

  • The Ultimate Growth and Effects of SaaS Industry in India

    Like many other technology inventions that leaves the human existence shell-shocked, the new technology called as SaaS (Software as a service) has come into existence to simplify the human lives and its growth has reached the global world.

    Software as a service, as the name suggests, is a software delivery method that is available for a huge number of customers by a service provider or a business owner over the internet. In a simple way, this platform is subscription based which is rented for customers on a monthly or yearly basis instead of purchasing it once and for all. SaaS applications have been around for a while now, many businesses are using it as a part of their service to the customer.

    Software as a Service (SaaS) is a new software deployment model and an on-demand-service providing a reliable environment for renting and using the applications for a particular period of duration and for managing their payments and billings.

    SaaS is nearly taking over the cloud computing market, the global public cloud service market is projected to grow to more than $200 billion in 2019 from $175.8 billion in 2018.

    Microsoft leads the annual growth rate with 45 %, followed by Oracle at 43 % and SAP at 36 %.    

    The Use of SaaS Industry
    Benefits of SaaS Industry
    Growth of SaaS Industry in India
    How SaaS is Affecting the Modern Business

    The Use of SaaS Industry

    Traditionally software applications were hosted on user’s hardware within their premise. They had to go through the lengthy maintenance of hardware and software. There are were continuous upgrades, follow-ups, recovery testing and software license management to handle. By doing this, it had become cumbersome to manage the business.

    SaaS is software that is a cloud-based service. It means whenever the user is wants to use the service, they don’t need to download it, install or update it. Free from all the hassle, they can access it simply on their internet browser. It allows the users to connect to and use cloud based applications over the internet.

    End users are not directly responsible for anything in this process, they only use programs to get their tasks done. As the organizations are involved in providing the applications, they pay for their customer’s use of the applications too.

    According to a research, over 20% of Enterprise software has moved to SaaS. There are many examples of established enterprises like Salesforce, ServiceNow, Microsoft, Google, Cisco, HubSpot, GitHub, Shopify and many others who are dominating the SaaS market.

    Software which fulfills the needs of a specific industry (for example- healthcare, agriculture, e-commerce, real estate, finance, research and development). It requires less capital because it does not require any upfront licensing fees, due to which it is very feasible to adopt. The products which focus on a software categories like marketing, sales, developer tools and HR.

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    Benefits of SaaS Industry

    • Security, the reason why most enterprises are now moving to SaaS is that it is highly secure in nature, all the customer’s files, reports and data are secured on a higher level.  
    • Accessibility, one of the major benefits of the SaaS system is that it is highly accessible to the user with a good Internet connection and you can work on your device no matter where you are located.
    • Cost effective, it is a pay-as-you-use-the-service pricing, so the user can pay only for the service that they need without making any upfront infrastructure investments.
    • SaaS has a scalable service delivery infrastructure that allows the organizations to adapt their requirements to meet the respective customers escalating needs.
    • SaaS provides hassle free IT experience to the users. Using SaaS helps in reduction of 15% in IT spending and a 16.7% reduction in IT maintenance costs.  

    Growth of SaaS Industry in India

    Users are adopting the subscription based pricing model to fight the upcoming business competition. Established enterprises are also embracing the Software as a Service business model to satisfy their needs. The result facilitates the healthy competition among SaaS vendors to take their businesses to a particular reach.

    Growth of Software as a Service
    Growth of Software as a Service

    90 % of businesses are offering SaaS solutions using social media. Recently, The number of user’s engagement in the SaaS products has increased rapidly. Its not the case that just the small firms are adopting the SaaS products but the large enterprises are also leveraging SaaS technologies to boost their business.

    A research says that organizations with over 250 employees use over 100 SaaS applications. On an average, small firms of up to 50 employees use up between 25-50 SaaS apps. Therefore, the growth rate of SaaS usage is almost consistent across organizations of all sizes. The growth is driven by product development methodologies such as Agile and DevOps, as well as the availability of SaaS products in the enterprise IT market segment.

    The anticipated number of Software as a Service (SaaS) startups in India have almost tripled in the last five years. Right from 3,000 in 2014 to 8,336 in May 2019 and this number is only predicted to grow in future. India currently accounts for 2.6 % of the global SaaS market.

    According to a global report published of SaaS, an average company spent $343,000 on SaaS in 2018 and 78 % increase from the previous year.‌‌‌‌The first generation of Indian SaaS startup market has already proved that they have effectively been able to sell software to the world remotely from India. This further proves that geographical barriers aren’t a constraint anymore, provided the products and trade experiences are good to the customers.

    How SaaS is Affecting the Modern Business

    The acceptance of SaaS technology has made it become mobile and it has affected the market in number ways. ‌

    Restructuring the nature of work

    SaaS offers a common platform where users can easily manage and collaborate their supply chain. With the cloud technologies, the single purpose is to optimize the application resources. Simplifying, if the user is not on the cloud, he/she will not be able to share information or business processes with other participants.

    Financial insights and assistance

    Many businesses have shifted from the complex way of organizing. From ERP to cloud which makes them connect effortlessly with project management, design, supply chain, purchasing and so on. Also, numerous businesses are turning to a cloud-based Enterprise Performance Management making it an integral part of their daily operations. This will help the users as well as organizers to plan their finances in the long run and achieve their long-term goals.

    ‌‌Integration of Services

    Integration of a variety of services to the cloud is changing the competitive market. Right from simple service integrations on your mobile phones to more complex integrations of voice-activated remote controls, there is a wide array of services that companies integrate into the cloud when launching or redesigning a product.

    Managing the workforce

    Cloud computing had a tremendous impact on the way people actually work. A better communication flow has made the business processes and functions more transparent. Every form of management is immediate and social, right from training and learning to project management and recruiting has taken a whole new form. Since the workforce is the strength and foundation of the entire system, organizations will be focusing on finding the most efficient way to manage and engage their employees.

    Using automation to search for results of every campaign

    Most marketing campaigns need to struggle to create attractive content that will create a strong customer base. When running a marketing campaign, marketers have to automate a number of tasks such as emailing or social media. This is where the technology of marketing automation enters the game. A cloud-based marketing automation allows marketers to plan and track results of their marketing campaigns.

    Using analytics to aim for customer satisfaction

    With the rise of technologies in the business world, customer satisfaction has become the top priority for most organizations. To be able to find out about the customer behavior as well as the company’s profitability and overall performance, companies use cloud-based analytics.

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    FAQs

    What is SaaS?

    SaaS is a method of software delivery that allows data to be accessed from any device with an internet connection and a web.

    What are examples of SaaS?

    SaaS examples: BigCommerce, Google Apps, Salesforce, Dropbox, MailChimp, ZenDesk, DocuSign, Slack, HubSpot.

    What are the SaaS products?

    • Elink
    • Trello
    • Slack
    • Hubspot
    • Buffer
    • Intercom

    Is SaaS the future?

    SaaS is taking over the cloud computing market. Gartner predicts that the service-based cloud application industry will be worth $143.7 billion by 2022.

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  • Factoreal : Marketing Automation Platform To Boost Revenue

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Factoreal.

    No matter how big an organization is, when it comes to marketing, there’s no dearth of mundane and repetitive tasks, such as email marketing, social media posting and even campaigns. Marketing automation platforms remove the hassle from marketing execution and allows businesses to streamline, automate, evaluate tasks and workflows – not just for the sake of efficiency, but to provide a more personalized experience to the consumers, eventually leading to higher conversions and business growth.  However, these tools have become complex over time, difficult to operate and messy to integrate and customize.

    Factoreal is a Bengaluru based startup offering an omni-channel customer engagement and marketing automation platform designed from the ground up to help marketers execute their job effortlessly and boost revenue. Taking a clean slate approach powered by the fuel of simplicity, it enables businesses to define end to end customer journeys in minutes, delivering hyper-personalized campaigns and capturing those micro-moments of engagement effectively.

    Factoreal – Company Highlights

    Startup Name Factoreal
    Headquarter Bengaluru, India
    Sector Software as a Service (SaaS)
    Founder Aditya Dhruva
    Founded 2019
    Parent Organization Comviva Technologies USA Inc.
    Website factoreal.com
    Contact letschat@factoreal.com, marketing@factoreal.com

    Factoreal – About and How it Works
    Factoreal – Target Market Size
    Factoreal – Founders and Team
    Factoreal – Parent Company (Comviva Technologies USA Inc.)
    Factoreal – How it Started?
    Factoreal – Products/Services
    Factoreal – Name, Tagline and Logo
    Factoreal – Revenue Model and Business Model
    Factoreal – Funding and Investors
    Factoreal – User Acquisition and Growth
    Factoreal – Competitors
    Factoreal – Advisors and Mentors
    Factoreal – Future Plans
    Factoreal – Founder’s Advice
    Factoreal – FAQs

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    Factoreal – About and How it Works

    Factoreal is a startup funded by Comviva Technologies (part of the Mahindra group), looking to disrupt the Omni-Channel Customer Engagement industry. It is a tool designed for marketers. The tool is Simple, Intelligent, and Effective.

    The startup aims to make customer journey automation SIMPLE and AFFORDABLE for all businesses. They strongly believe that simplicity is the essence of universality.

    The team started with only one guiding light, “To build the most trusted simplest platform”. Simplicity still remains the most important guiding principle for every decision they make. Whether it’s deciding the product roadmap or hiring – simplicity is always at the heart of everything they do.

    Here are the top 5 challenges that customer engagement automation can help a business overcome:

    • Unengaged customer
    • Low lead conversion
    • Marketing inefficiencies
    • Lower than expected Revenue growth
    • High TCO
    Factoreal – Customer Engagement Platform

    Factoreal – Target Market Size

    The marketing automation market size is growing at double digit CAGR and expected to be a USD 25 billion industry by 2024. The increasing need for automating repetitive marketing processes, retention of users for business growth, increasing demand for personalized marketing, and better predictive lead scoring are some of the major factors expected to drive the growth of this market.

    Marketing automation software solutions help enterprises to manage the entire lifecycle of marketing channels effectively across various digital medium which is one of the major factor for adoption of these software by enterprise globally.

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    Factoreal – Founders and Team

    Aditya Dhruva is the Founder & CEO of marketing automation platform-Factoreal.

    Aditya Dhruva - Founder, Factoreal
    CEO of Factoreal, Aditya Dhruva

    Aditya Dhruva, the CEO of Factoreal is a thought leader with a stellar track record of business innovation, strategy, and running profitable businesses. He has done his entrepreneurship education from MIT and is a graduate in Electronics and Communications. He has authored 5 patents and in his past, he has held various leadership positions at Comviva, Cisco and Nokia.

    “There are two schools of thought in the startup world – One prioritizes time-to-market. Get in there as early as you can, get the bean counter flowing early, pivot and iterate to find a reasonably strong play.

    The other evangelises getting the right product-market fit. In highly innovative markets with strong competition, getting the right differentiation and core value proposition is extremely important. In Factoreal we are favouring the second approach” – Aditya Dhruva, founder and CEO of Factoreal.

    Factoreal Team
    Factoreal Team

    Factoreal – Parent Company (Comviva Technologies USA Inc.)

    Comviva is one of the leaders of mobility solutions providers and cater to over two billion platform users globally. The technology products offered enables customers to increase revenue, operate profitably and make a drastic impact. It is a value-added services provider for mobile telephone operators. Comviva has customers in over 90 countries, In 2012, Tech Mahindra bought a 51% stake in Comviva.

    Factoreal – How it Started?

    Comviva Technologies has been a leader in Mobility Solutions for nearly 2 decades. Predominantly working with Telecom customers, the portfolio spans across Mobile Financial products, Messaging and infrastructure, customer value management and lifestyle solutions.

    As part of the growth strategy for the group, they wanted to leverage their expertise in building highly scalable carrier grade solutions and bring it to an internet scale offering directly to the enterprises in a SaaS model. That was when marketing automation platform, Factoreal was born.

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    Factoreal – Products/Services

    Factoreal is an omnichannel customer engagement and marketing automation platform, delivering best-in-class journey automation, channel coverage, and budget control. The product capabilities include:

    Engagement automation

    Let’s you automate the customer engagement lifecycle, you can ensure seamless, engaging, customer conversations everytime.

    • Simplest Workflow modeling and ready-to-use journey templates
    • Social ads & shares
    • E-mail automation
    • Real-time triggers

    Omni Channel

    Let’s you orchestrate and automate customer experiences across multiple touchpoints.

    • Traditional – SMS and Email
    • Social – Facebook, Instagram, Twitter, Snapchat
    • Mobile / OTT – Mobile App, Chatbots and RCS

    Planning & Budgeting

    Let’s you use a credit store (FactCoins) to control all your marketing spends based on real-time needs.

    • ROI Analysis
    • Budget management

    Ecommerce Integrations

    With their pre-integration with ecommerce platforms like Shopify, WooCommerce, you have the ability to run all your conversion and acquisition campaigns right out of Factoreal – down to each product and customer.

    • Real-time actionable insights into the ecommerce journeys
    • Predictive analytics
    • Recommendations

    Factorial (!) is the mathematical symbol for a multiplicative expression. The core value of the Factoreal Brand is to provide a multiplying benefit in every aspect to the user : experience, value and simplicity

    The placement of the logo in the wordmark has been kept in the exact centre. This adds a dimension to the narrative of the brand story, implying that the user is receiving relevant data and facts in real time. The company’s product acts as a catalyst by highlighting the vantage points of data. The placement of the monogram also enhances the visual recall of the brand.

    Factoreal
    Factoreal logo

    Bringing together every aspect, the monogram is a representation of marketing automation. The beauty of the monogram lies in the fact that it is also the mathematical representation of factorial itself.

    It represents churning of a large amount of consumer data on an omnichannel platform to generate segmented, meaningful pieces of information, which helps you derive accurate marketing insights – all through a simple automated tool.

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    Factoreal – Revenue Model and Business Model

    Factoreal’s revenue is subscription based and they have a Pay-As-You-Grow model allowing customers to increase their spend based on their business growth. The startup’s unique credit store concept (called FactCoins) enables customers to purchase pre-paid credits which can be used flexibly across campaigns, channels and ads.

    The company care for their customers and given the current situation, they are going the extra mile in helping the small and medium businesses tide over the crisis with flexible plans.

    Software as a Service (SaaS) Revenue Model
    For customers, the benefits of the SaaS model are clear. It brought lowercosts, lower commitment risk, and a try-before-you-buy model, which gavecustomers a remarkable opportunity to assess a product before making a purchase.Indeed, the benefit is so clear that a 2017 study conducted by BetterCl…
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    Factoreal – Funding and Investors

    Factoreal is funded by Comviva Technologies (part of the Mahindra group)

    Factoreal – User Acquisition and Growth

    While the team don’t disclose their customer base, they have been lucky enough to on-board a handful of paying customers within a couple of months of bringing their MVP to the market. But the journey is long and it has just begun.

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    Factoreal – Competitors

    Competitors of Factoreal are Klaviyo, Adobe, Hubspot, Salesforce Marketing Cloud, and Autopilot hq to name the few.

    Factoreal – Advisors and Mentors

    Manoranjan Mohapatra (CEO of Comviva technologies), and Dan Knowlton (Ranked among the top 100 digital marketing influencers) are advising the team of Factoreal.

    Factoreal – Future Plans

    It has future plans of scaling the business, growing the team, and launching new capabilities that help their customers achieve their goals faster. They are focused on delivering high customer satisfaction.

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    Factoreal – Founder’s Advice

    “Find a real customer problem to solve. You can definitely build a good business provided you’re constantly innovating on product, value and GTM. Any startup will go through it’s ups and downs – it’s important to try for the best but prepare for the worst. Be prudent in spends, save for a rainy day. Take care of your employees. And more importantly, hustle, hustle, hustle. There are no guarantees in life, but these will give you your best chance at success.” – Aditya Dhruva, founder and CEO of Factoreal.

    Factoreal – FAQs

    What is Factoreal?

    Factoreal is a Bengaluru based startup offering an omni-channel engagement automation platform to help marketers execute their job effortlessly.

    Who is the Founder of Factoreal?

    Aditya Dhruva is the Founder & CEO of Factoreal.

    Who are the Top Competitors of Factoreal?

    Competitors of Factoreal are Klaviyo, Adobe, Hubspot, Salesforce Marketing Cloud, and Autopilot hq.

    What is the Factoreal Revenue Model?

    Factoreal’s revenue is subscription based and they have a Pay-As-You-Grow model allowing customers to increase their spend based on their business growth. The startup’s unique credit store concept (called FactCoins) enables customers to purchase pre-paid credits which can be used flexibly across campaigns, channels and ads.

  • Plerdy: Track and Analyze Visitors’ Activity

    Wondering why your site hasn’t been able to convert any visitors lately?

    You don’t really know what the problem is with your website but you’re desperate to find out why people are bouncing off your site.

    You cant poll every visitor that comes in, and you cannot spend more time tweaking their experience little by little, but what you can do is check out Plerdy.

    Plerdy helps to track and analyze your users' behavior on your website and convert them into loyal customers
    Plerdy helps to track and analyze users’ behavior on your website and convert them into customers

    A tool that shows you how your users behave on your website. You can analyze their behavior patterns to find out issues on your site and modify what’s required to enhance their experience.

    Plerdy – What does it do?

    A multifunctional SaaS tool that offers click tracking, session recording, heatmaps, and more to analyze user behavior and improve site design.

    Heatmaps

    A click heatmap shows how users behave on a particular page of your website. This report reflects data like click sequence, scroll depth, most clicked elements, and popular part of the page.

    Click sequences appear on the live site so you track exactly what a user is up to by analyzing user clicks and actions based on dynamic elements. You can also segment data from different traffic sources and devices. This alone will help you understand what elements on your page are working, and the ones that are not.

    Pros of using Plerdy heatmaps:

    Heat maps offer live evaluations of your users including click sequence and scroll maps
    Heatmaps offer live evaluations of your users including click sequence and scroll maps
    • Data is transferred to your dashboard in real-time and is immediately available for analysis.
    • Clicks are collected with 99% accuracy
    • You get detailed statistics on sliders, pop-up clicks, and other dynamic elements of your webpage
    • Insignificant clicks (clicks on blind zones) are automatically filtered out.
    • Statistics can be grouped by certain metrics. For instance, you can choose device type so the click stats for mobile and PCs will be separated.

    With all the data the heatmap offers, you can easily find flaws in your website design, reduce bounce rate to increase conversion, and improve the overall usability of your website.

    Pop-up forms

    Plerdy lets you add quick functionality or gather information through the use of pop-ups.

    This particular tool lets you collect emails, do callbacks, create banners and subscribe buttons. It offers more than 25 such conditions and capabilities. You can use this tool to customize your pop-ups to fit your business and use them to segment different users into groups based on their responses.

    The best thing about this tool is that you don’t have to worry is that it has no effect on your page loading speeds.

    Pros of using Plerdy’s pop-up forms:

    • Add YouTube videos, images, and GIF animations to your page

    Segment impressions based on traffic channels (Mobile or PC)

    • Display calendar shows smart pop-ups on specific days
    • Unlimited settings for a page
    • Pop-up location can be directly changed on the page
    • Integration with mailing services and CRMs

    Pop-ups, if done correctly offer a high conversion rate. With proper customization, they will help you capture your users’ attention effectively.

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    Explara helps startups to monetize their events 

    SEO checker

    The position of a website in search engine results depends on a variety of SEO indicators. Plerdy helps you monitor current indicators and compare them with previous data to identify issues and optimize SEO.

    It helps you identify areas of concern and makes sure you’re not losing visitors. By running daily analysis to give you detailed SEO reports, Plerdy lets you make instant corrections. You can then tap into a before/after mode that lets you record page changes and see new updates.

    You can also enable the Google Search API via Plerdy to analyze keywords and spot opportunities for more content.

    You can always segment your data based on the device type so you optimize your users’ visits.

    Record user sessions

    Another great way to get a closer look of how users navigate your website.

    Plerdy lets you analyze a specific type of traffic by recording their data. You can segment this data to easily manageable sizes based on the type of device they use.

    You also have the option to view individual videos or different sessions of a specific user. If you made some recent changes to your website, you can use this tool to know whether the recent changes were effective or not.

    Conversion funnels

    Plerdy also lets you optimize your conversion funnel and keep track of the users who have gone through it. You can easily view the number of visitors currently in the funnel based on traffic and device type.

    It collects sales and purchase data to track your most profitable traffic or device sources.

    You can also see the elements your users interact with before and after they make a purchase to gain insight and boost your design to maximize sales.

    How much does Plerdy cost?

    Plerdy's pricing plans
    Plerdy’s pricing plans

    Click below to get Plerdy’s life time access at the lowest price (LTD)

    Plerdy – FAQ’s

    What are the main differences between the service plans of Plerdy?

    The service plans differ in the quantity of traffic per 1 day; pages you can analyze; videos that will be available for viewing; active popup forms and possible collected leads; pages available for SEO-audit and semantic analysis; subdomains available for analysis; storage time of the collected data.

    What happens if I use Plerdy’s daily limits on the amount of traffic?

    If the daily limits on the number of page views by users have been exceeded, data collection by the service automatically stops, according to the service conditions. Thus, you can analyze the collected data within the limit. In order for the service to continue collecting more data, we recommend that you increase your service plan.

    What should I do if I chose the wrong service plan of Plerdy?

    Write a ticket about this in your account and we will help you resolve this issue quickly. If the service plan needs to be downgraded, the difference will not be refunded to the owner. If you need to upgrade the service plan, provided that the paid period has not yet started, or no more than 2 days have passed since the start date, You will be credited with fewer days of validity of the selected service plan.

    What payment methods are available in Plerdy?

    The Plerdy platform has the following payment methods available: PayPal and such Credit/Debit cards as: Mastercard Visa Maestro American Express Discover Diners Club JCB UnionPay. If for certain reasons you can’t use any payment method, write to us in the ticket in your account.

    What is Plerdy’s refund policy?

    To do this, you need to write in the ticket in the admin part – and we will make a full refund for the corresponding payment for the unused period.

    Conclusion

    It takes less than a minute to connect Plerdy to your website. Just choose a subscription plan that aligns with your budget and business and you are ready to go.

    You can also test how the tool works on a free subscription. Plerdy also offers a 2 – week free trial for advanced packages.

    You no longer have to wonder why your website is so far from Top search results. You can try out plenty of other free applications but that might be very time-consuming and will hamper your productivity.

    So why not choose a platform that gives you detailed information like traffic type, session recording, and heatmaps so you can improve your conversion rate?

    Optimize your website and boost your conversions by using Plerdy.

  • Best Accounting Software For SaaS

    It’s not easy to check through all of the SaaS accounting software options. There’s a lot of platforms to choose from across every operational aspect of your company. Onboarding each of them requires a ton of setup and spending the time to learn their nuances. Then, of course, there’s the cost of purchasing licenses to consider. And finding the best accounting software for SaaS companies is doubly hard: You have even more options than other types of small business owners do, and figuring out the differences among all these accounting software packages is tricky at best.

    However, there are a couple of key things that differentiate the best SaaS accounting software options from the rest of the crowd. They are:

    • Scalability: Most SaaS companies are growth-minded, meaning you need accounting software that can keep up with your business as it expands.
    • Automation: SaaS is a fast-paced industry. Nobody wants to spend all their time doing accounting, so you need a solution that is as high-tech as the service you provide. Automation allows you to focus less on your books and more on your business.
    • Multi-Business Support: SaaS encompasses a wide range of business types. Your software needs to provide a solution that can account for that.

    Best Accounting Software for SaaS

    Now that we know what to look for, here is our top pick for the best accounting software for SaaS companies:

    QuickBooks Online

    best accounting software for SaaS business
    Quickbooks online

    One of the top options for the best accounting software for SaaS companies is QuickBooks Online. You’ll have a hard time finding a platform that’s as scalable as QuickBooks Online: The software offers different levels of support that accommodate your company’s evolving needs as it expands. Plus, the setup is easy and the bookkeeping is intuitive.

    best accounting software for SaaS business
    Quickbooks dashboard

    Getting more specific, there are several reasons QuickBooks Online is such a good option for SaaS companies. They are:

    1. Requires No Manual Data Entry.
    2. Grows with Your Business.
    3. Makes It Easy to Track Your Financial Health.
    4. Has a Helpful Virtual Community.

    Best for small businesses seeking accounting software suitable to their size. QuickBooks pricing starts at $5.00 per month, per user. There is not a free version of QuickBooks but QuickBooks does offer a free trial.

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    Netsuite

    best accounting software for SaaS business
    Netsuite

    According to NetSuite’s website, it offers a financial management solution that expedites daily financial transactions, accelerates the financial close and ensures compliance. Its cloud-based single platform architecture ensures complete real-time visibility into the financial performance of the business from a consolidated level down to the individual transactions.

    It offers the following features:

    1. Core accounting functionality.
    2. Billing management.
    3. Revenue recognition.
    4. Financial planning/reporting.
    5. Global accounting and consolidation.
    6. Governance, risk, and compliance.

    NetSuite’s cost depends on several factors including the selected product configuration, add-on modules required, total user count and contract duration. Taking all this into account, NetSuite’s base license pricing begins at $999 per month with general user access listed at $99 per month. Advanced NetSuite feature modules are available which can be a beneficial enhancement to a standard platform license. Add additional users as needed by purchasing individual access via any browser on a universal cloud-based platform.

    NetSuite licenses operate on a subscription model and may be renewed annually or over longer durations. There are several pre-bundled vertical editions, which can be useful in quickly identifying the necessary package and modules needed. You decide which one is best and when you are ready to add more capacity.

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    FreshBooks

    accounting software for SaaS
    FreshBooks

    FreshBooks is designed specifically for small businesses, so if your SaaS company is still in its early stages, this could be a good option. FreshBooks offers three different small business accounting solutions—Lite, Plus, and Premium. Each option is designed for businesses in different stages of growth, with the Lite plan being the least expensive and the Premium plan being the most expensive.

    accounting software for SaaS
    FreshBooks pricing

    The features you get with FreshBooks depend on the plan you sign up for, but all plans come with the following features, which are essential for SaaS accounting:

    1. Invoicing (including recurring invoices and late payment reminders)
    2. FreshBooks Double-Entry Accounting tools help you make choices based on actual business data and insights.
    3. Automated expense tracking.
    4. Create a summary report and export it to Excel.
    5. Time tracking.
    6. Collaborative tools (file sharing, centralized product conversations).
    7. Invite your accountant to your FreshBooks account with just a few clicks. Your accountant will get exclusive access to the financial information and reporting they need to support your business, whenever they need it.
    8. Payment processing.
    9. Reporting (P&L statements, accounts aging).

    FreshBooks is available at a price that is comparable to QuickBooks, and it features very similar accounting functionality. This makes it a great alternative to consider for those looking for SaaS accounting.

    Zoho Books

    accounting software for SaaS
    Zoho Books

    Zoho Books is an online accounting software that allows you to easily manage the money flowing in and out of your business. Manage your customers and invoices, while keeping expenses in check. Record, monitor and reconcile your bank accounts and transactions, and collaborate with your accountant in real-time. Most importantly, Zoho Books helps you make better, more informed decisions and stay on top of your business.

    accounting software for SaaS
    Zoho books pricing

    Features at a glance:

    1. Create GST invoices in seconds.
    2. Give your customers online payment options and get paid faster.
    3. Create and send purchase orders.
    4. Keep track of inventory levels at all times.
    5. Organize your inventory with vital information like SKU, cost, and stock on hand.
    6. Set up rules to categorize your banking transactions for easier reconciliation.
    7. Create, edit, and manage your customer and supplier contacts from within Zoho Books.

    There are three pricing options for Zoho Books – Standard (₹2,499 per Organisation/Year, 3 Users), Professional (₹9,999 per Organisation/Year, 4 Users), and Premium (₹19,999 per Organisation/Year, 7 Users).

    Conclusion

    Whether you’re just forming your SaaS company, or have begun to hit your stride and need a seamless way to manage your finances, accounting tool provides a robust way to manage your company’s money from top to bottom. No matter which software you choose for your SaaS accounting needs, before you set out on your search make sure you know precisely what you need your accounting software to do for your business. So, which tool are you using for accounting? Please let us know in the comments section below.

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    FAQs

    What is SaaS accounting software?

    SaaS accounting is a model for accounting software whereby the application is hosted by a service provider. Instead of installing and maintaining software locally, SaaS software is securely accessed through a PC or mobile device.

    Is QuickBooks a SaaS?

    Yes, QuickBooks – This is the tool for all your accounting needs. They also have a free trial so you see if it meets your need! Salesforce – A CRM software that can be used to scale business.

    What accounting software do startups use?

    One of the top options for the best accounting software for SaaS companies is QuickBooks Online.

  • How to acquire your first 10 SaaS Customers?

    Are you occupied in the process of launching your new interesting SaaS product?

    Being part of this dynamic world makes it more tricky to attract customers to your newborn SaaS tool or a Startup.

    You can’t wait for your early birds to arrive on their own for your new creative SaaS Product.

    Getting the attention of initial customers to your business is ultimately an Art. And anyone can become an artist with proper guidance.  

    Don’t have to worry if you don’t know how to get your product in the eyes of your customers because, in this article, we are going to reveal some tricks, some steps, and ultimately you will learn how to acquire your first 10 SaaS customers?

    Before we start, let’s take a quick look at What does this term SaaS means?

    What is SaaS?

    SaaS viz. Software as a Service is an online cloud-based service where users don’t have to bother downloading any software on their device to use that tool or product; instead of this, they can easily work with the software on the browser.

    What is SaaS?
    What is SaaS?

    Plus, in this cloud-based service, Software developers have the secured access and hosting responsibility of the servers, information, database, and coding that conclusively created the software.

    Another good thing is these Business tools cut off the painful worries of payment of monthly installments or any further updates.

    SaaS tools make the job easy, flexible, and economical for everyone out there.

    Now the question arises after getting and launching the output of your creation, invention, and hard-work, where and how to find initial customers that not only purchase your services but also recommend others to opt the same.

    7 Helpful Strategies for you in acquiring your initial customers

    Strategies are the most effective pillar for a successful business and if followed sincerely, then strategies can also provide foolproof consequences.

    Do Research on Successful SaaS Owner’s Experiences

    Before taking any further step for promotion of the product, do some research on Successful SaaS owners about how they launched their tool, how they promote it, how they gathered the concern of their potential customers, etc.

    Here comes a plan, you can always find your customer by searching for online complaints people are facing, and your product is solving.

    Twitter, Quora, Reddit, Facebook try to cover up every possible platform where people are continuously looking up for some work that can be fit into their needs.

    Try to answer their queries and talk to them about your product and perks offered by the tool.

    Attention-seeking Sales Copy

    After knowing the problems of people, write a well descriptive and attention-grabbing Sales copy of your tool and share on the platform where you can find some customers.

    Don’t forget to write some common questions, so as soon as somebody raises a query, your article will pop-up to grab their attention and make them communicate with your team regarding the product.

    Once you get them to your team make sure that they remain interested in your tool and your SaaS and also ask them if they would like to be in touch so you can send them updates of upcoming tools.

    By this, You are achieving two targets in a single arrow, means your research will not be hectic, and you are getting a list of prospective buyers.

    Launch an email list using your research List

    To make sure the guaranteed sales of your product, try to launch it via an email list.

    You initially can send people whom you’ve listed previously and who can be your potential customer.

    A successful launch sequence involves adding value to your potential buyers in the initial few emails; then convince them to buy your tool as soon as possible.

    You also can use the following tricks to make your launch more effective and profitable:

    • Send the first two Emails with a brief informative description explaining the reason why they should consider you and your tool.

      Here you can mention your background, story of your startup, and many other things. Make it suspenseful and exciting, so Customers will wait for your next email.

    • Once successfully build an audience who is totally into your subject, start talking about your product. Don’t boast too much.
      Make it for a professional, impressive, and reliable tool that is solving their issues and must give a shot.
    • Here comes the Showtime. Time to launch the product. Keep it comprehensive by telling your audience that your product is available for purchase now.
    • The last email must consist of strong confidence in the tool and a compelling message at the end for making buyers urge to purchase the product.

      Show your subscribers that your product is the perfect solution to their problem and your services will never let them down in any situation.

    Take help from closest Network

    For promoting your SaaS tool, you can take the help of your closest network. Try to communicate with the people you know and the next chain with the people your fellas know.

    More close network will help in gaining more valuable information with your prospective clients

    Try to find out the problems they’re confronting.

    Convey to them your idea about your product and its features (try to sound like an empathizer, not a salesperson).

    Do your best to convince them why and how your tool fits into their equation problem and how profitable it could be for them.

    Once they’re convinced, you get a new client.

    Free Trial offer for early comers

    People love acquiring things for free. It might sound a bit unfavorable to you but in the beginning, Bringing more and more customers is your prime concern rather than money.

    When people come to know that they have an opportunity to acquire a product for free being an early comer, which is solving their issues, they’ll never take a step back.

    Offer them a free trial in which they can explore the product and its features. This free trial will help you in creating a strong customer base, and also establish your product in the market.

    A free trial is a scheme that attracts the traffic and attention of the tool seekers.

    Special Perks to Initial Customers

    Grabbing the attention of prospective customers is not an easy thing.

    But who would not lose their grip when they know that being the initial customer they can enjoy some of the reserved perks of the SaaS product.

    You can offer perks like lifetime access to the tool in minimal subscription fees, some bonus premiums in the tool, availability of less subscription in upcoming products to early birds, etc.

    Offer them exciting deals that are utterly irresistible for them.

    Affiliate Marketing of your Product

    For getting more subscribers, Affiliate Marketing is a boon for your product. Here you have to pay only for real users, not for the audience gathered.

    Lower the risk, Higher return. Great deal.

    Outsourcing is one of the most frequently used options that will help you with effective affiliate marketing. People will bring audiences for your product, and you will only pay for those who buy your tool.

    Plus, it’s a good thing in SEO, as affiliate marketing brings traffic to your site with content and backlinks.

    With this, you can also drive influential bloggers and get them to write about you and your product. Real money making offers is the thing that they never refuse and will give you the best magnetic content to attract customers for your tool.

    What is the other way in which Affiliate Marketing works?

    Step 1: Personal URL is the primary step of affiliate marketing to bring more traffic to your site.

    Step 2: Marketers can use paid traffic by using Podcasts, YouTube videos, cold emails, AdWords, blogs, etc.

    Step 3: When interested one becomes your paying customers, affiliate marketers get their payment.

    Now finally, you know all the foolproof strategies that you can use for acquiring your initial customers.

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    Conclusion

    So after hearing out all the foolproof strategies and experiences of some SaaS experts that successfully acquire their initial customers.

    At first, it will take lots of efforts to send out information about your tools to a large group of audience but once you start analyzing and summarising the need and problem of the users it won’t take that long for you in the future to get more and more customers to your SaaS.

    There are so many ways to bring customers at the primary stage of service, but a more comfortable choice can make it a more easy and economical way to acquire target audiences.

    Frequently Asked Questions (F.A.Q)

    What is SaaS?
    SaaS is a cloud-based online product service where users can directly use a tool on their internet browser only, they don’t have to download any software for working with different tools.

    Why choose SaaS?
    Cloud-based SaaS solution helps in improvising the quality of service with browser extensions, better user experiences, great robust functionality, and cost-effective for your business.

    Where can you find your prospective customers?
    You can always find your potential clients on social media communities, Quora, Reddit, and many other websites.

    How are SaaS tools useful for organizations?
    SaaS solutions can help an organization perform their jobs more effectively and efficiently by using different creative software. SaaS software can also help with inventory management, finance management, infrastructure, and human resource management.

  • Aiosell Technologies – Taking the Hospitality Industry to the Next Level!

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    Just when we thought the hospitality industry couldn’t get any better and automized, Siddharth Goenka launched Aiosell Technologies in 2019. This venture is all about automated pricing & revenue management for hotels, combined with an all-in-one integrated hotel marketing platform.

    The hotel industry is still using archaic systems with static prices and independent systems that do not integrate well with each other and leaves money on the table. Aiosell aims to solve the vision of maximizing revenues for the hotel industry, using automation, AI, and integrated technology systems. The owners of the Aiosell are hotel owners themselves, and hence this company was born out of a need in their own business. When they realized, there wasn’t a suitable alternative available in the market solving these issues, they decided to build a technology solution.

    Aiosell Technologies – Company Highlights

    Startup Name Aiosell Technologies
    Headquarters Bangalore
    Sector IT
    Founders Siddharth Goenka
    Founded 2019
    Parent Organization Aiosell Technologies Private Limited
    Website aiosell.com

    About Aiosell Technologies and how it works
    Aiosell Technologies – Target Market Size
    Aiosell Technologies – Founders and Team
    Aiosell Technologies – How did it start?
    Aiosell Technologies – Name, Tagline, and Logo
    Aiosell Technologies – Startup Launch
    Aiosell Technologies – Business Model and Revenue Model
    Aiosell Technologies – Startup Challenges
    Aiosell Technologies – Funding and Investors
    Aiosell Technologies – Growth

    About Aiosell Technologies and how it works

    The product of Aiosell uses several automation and AI algorithms to change prices in real-time to ensure the hotel gets the maximum business. When the demand is high, the price increases and vice versa. The system uses many other unique parameters to adjust these prices, including occupancy, demand, seasons, weekday, booking window, dates, etc.  

    The USP of the product is to use all these products in a very simple, easy to use method to automate dynamic pricing and simplify revenue management. The product also integrates all aspects of hotel marketing together to give a one-stop-shop marketing product for hotels.

    The product started off using a simple pricing automation tool. Today, it includes all technology components of the hotel industry including Rate Shopper, Reviews Manager, Website & Booking Engine, Analytics & Reports, Travel Agent portal, etc. This pivot was made because the team realized that many hotels could not only use one aspect of hotel marketing, it needed to integrate all these aspects to give the best results.

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    Aiosell Technologies – Target Market Size

    Aiosell’s target market consists of independent and chain hotels of all sizes (5 stars, 3 stars, 1 star) and home-stays & apartments that use online channels to get bookings for the hospitality industry.  

    There are about 6 million hotels only in the organized segment. Adding the unorganized segment and home-stays, this number can go above 10 million. Over the years, this number will only grow with more alternate accommodation being added to the supply.  

    “Since this is a highly fragmented market, our market share targets will be less than 1% of the market, which is a sizable opportunity for a B2B business,” said Siddharth Goenka, founder of Aiosell.  

    Aiosell Technologies – Founders and Team

    Siddharth Goenka is the Founder & CEO of Aiosell Technologies.

    Owner Aiosell Technologies
    Siddharth Goenka – Founder, Aiosell Technologies

    He is a Software Engineer from Purdue University and an MBA from the Indian School of Business, Hyderabad. He has previously worked in Microsoft as Software Developer and in Accenture as Management Consultant. Then, he went to join his family business and conceived Octave Hotels, a business hotel chain that grew to 7 hotels in 3 years. Siddharth brings a mix of software development, hotel owner, and marketing professional experience which is key to Aiosell.

    Team of Aiosell Technologies
    Team of Aiosell Technologies

    The co-founder of Aiosell Technologies is Smriti Singh, whom Siddharth met because her husband was Siddharth’s boarding school friend. She is IHM, Bangalore graduate and was ex Revenue Manager at ITC hotels.  

    Siddharth looks after the overall product development, vision, and overall growth of the business. Smriti looks after client satisfaction and success. The team comprises 15 members, the average age of the team is 23 years. The culture at Aiosell is very young, energetic, flexible, and innovation-driven.

    Hiring funda at this company is based on two pillars – attitude/potential, and honesty/ethics. Competence is given some weight but not very weightage, as that can be developed in other two qualities are present.

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    Aiosell Technologies – How did it start?

    “Since we were in the hospitality industry, this was a need that was glaringly visible in the industry. The industry was rapidly changing with an increase in internet bookings/smartphone usage and changing customer behavior.” Added Siddharth Goenka, owner of Aiosell Technologies.

    They were first trying this idea out manually using excel sheets, and when they succeeded, the team decided to make an automated product around it. For one year, they ran the concept manually with a service-led model, and when they were confident of the benefits involved, they changed it to a product-based approach.

    The initial people they spoke to were friends and family in the hotel industry, who were new to the online business and had not wrapped their heads around increasing their hotel revenues digitally.

    AIOSELL – AIO means all in one, and also a pun on artificial intelligence ‘o’ttomation. The name and logo for this B2B company were formed based on some initial research and brand name availability.

    Aiosell Logo

    Aiosell Technologies – Startup Launch

    At Aiosell, product first – marketing second is the approach, rather than the other way. Make the product so unique and desirable, that it starts selling itself. Aiosell has several partnerships with other technology companies and revenue management companies, who provide complimentary services or products to its offering.

    The company has formed revenue-sharing arrangements with these companies to grow. The team has now also started attracting leads through traditional product marketing channels like Google, Facebook, Linkedin, and Youtube.

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    Aiosell Technologies – Business Model and Revenue Model

    The business model of Aiosell is SaaS/subscription-based. The listings at Aiosell are priced anywhere between $5 to $10 per room per month. Like in any Saas model, margins are more than 30%, and currently, it has got the business organically without burning a lot of cash.

    Aiosell Technologies – Startup Challenges

    One major challenge that Aiosell faced was to convince a large chain of hotels to try and use the product. This was accomplished by offering them free trials and personal attention by the founder, Siddhart Goenka. It was also followed by ensuring all their requirements kept getting back into the product development cycle so that the customer was satisfied. Word of mouth references from happy customers is the most relevant marketing channel to grow the business.

    Aiosell Technologies – Funding and Investors

    In June 2019, Aisoell technologies raised an amount of INR 10,00,000 through an early stage self-funded round.

    Aiosell Technologies – Growth

    • 150+ hotels located in 10+ countries and 100+ cities
    • Revenue generation- $20,000 per month ($250,000 per year)
    • Profit margins are as high as 20%.
    • Customers across India, Thailand, Malaysia, Singapore, Philippines, Russia, Kenya, Belarus, Greece, USA, and Canada.

    Aiosell Technologies – Future Plans

    “We want to grow to 500 hotels in 1 year and 5000 hotels in 3 years.” Concluded Siddharth Goenka while talking about his future plan.

  • ADOHM- Optimizing Digital Marketing Campaigns for the Indian Businesses!

    Digital marketing is not just a trend now, it’s one of the most essential mediums to drive sales for the company. To optimize this process and to provide the best MarTech products in the market, Kuldeep Chaudhary launched ADOHM in 2017.

    ADOHM is a platform that uses the power of big data and incorporates machine learning techniques, applied propensity models, predictive analysis and other AI applications to deliver highly personalized communication across multiple devices and channels. Built from scratch using AI, ADOHM is an autonomous machine that requires little or no human intervention and can execute ad campaigns seamlessly across different paid channels, including mobile, social, video and display. ADOHM comprises a Marketing Suite, Sales CRM, Chatbot and Google My Business Dashboard.

    ADOHM HighLights

    Startup Name ADOHM
    Headquarter Bangalore
    Sector MarTech
    Founders Kuldeep Chaudhary
    Founded 2017
    Parent Organization Nikulsan Digital Agency
    Website adohm.com

    ADOHM Details

    ADOHM – About and How it works
    ADOHM – Target Market Size
    ADOHM – Founders and Team
    ADOHM – How did it start?
    ADOHM – Name, Tagline, and Logo
    ADOHM – Startup Launch
    ADOHM – Business Model and Revenue Model
    ADOHM – Startup Challenges
    ADOHM – Growth
    ADOHM – Awards and Recognition
    ADOHM – Future Plans

    ADOHM – About and How it works

    ADOHM is an Artificial Intelligence-powered platform that automates the entire advertising process by uniting ad campaigns from various platforms such as Google, Facebook, Instagram, and Taboola and offers an end-to-end solution for all digital marketing needs of brands and businesses. Beginning with a marketing suite for advertising, a sales CRM for lead management and automation, Google My Business for managing business location listings, auto-replies and an in-built chatbot, ADOHM is a truly autonomous machine that delivers impactful campaigns with little or no human intervention.

    The main idea at ADOHM is to build products using more futuristic technology like Facial Recognition, Augmented Reality, Virtual Reality and the biggest pool of data consisting of patterns combined with facial information. The core belief is to build an original product from scratch in MarTech and rather than copying similar techniques.

    Also Read: 13 Tips To Make A Video Ad To Pump Up Your Sales

    ADOHM – Target Market Size

    According to the State of Marketing Report, India, the MarTech Industry is being adopted in India in a big way. Digital Media is getting expensive due to competition and brands are looking to derive greater advertisement returns and a connected view with the marketing technologies. This industry is expected to grow at a CAGR of 44% for the next 5 years. India as a country has a projected opportunity of $250-300 million. The idea is to grow and expand in India and the European and US Market.

    ADOHM – Founders and Team

    The founders of ADOHM are Kuldeep Chaudhary, Sandeep Chaudhary, and Nishant Chaudhary.

    The roles of the co-founders are divided as follows:

    • Kuldeep is the CEO of the company and heads the management of the company
    • Sandeep is the mind behind the innovation and strategies of the companies and the clients
    • Nishant is the conceptual mind behind the smallest details behind the quality of work that the company produces.

    ADOHM currently is working with 30 employees

    ADOHM – How did it start?

    ADOHM, as a concept germinated when the trio Nishant, Kuldeep and Sandeep, the three brothers working at Nikulsan Digital Agency (parent company) understood their clients/manufacturers’ requirements of high ROIs and seamless optimization of their businesses’ digital campaigns in a cost-effective manner. This led them to develop the AI-powered product which is poised at helping businesses optimize their digital campaigns, use ad budgets effectively and generate leads at an affordable price. “The initial people that we talked to were our clients which helped us understand what problems they are facing in real-time.” Says Kuldeep Chaudhary.  

    The name ADOHM is a combination of AD + OHM. Ohm is the unit of resistance, the idea here was to remove any resistance that came in between while running ads and marketing campaigns. Hence, the name ADOHM. The idea was to convey that ADOHM makes running marketing campaigns as easy as using a smartphone powered by Artificial Intelligence.

    ADOHM – Startup Launch

    The techniques that worked the best for the ADOHM team were cold calling and Google Ads. These two techniques helped them gain a lot of traction and created a lot of buzz in the market through which they got a good number of clients.

    Also Read: Best Ways to Advertise SaaS

    ADOHM – Business Model and Revenue Model

    The revenue model of ADOHM is based on a license per user for the Sales CRM and the Google My Business Dashboard. The Marketing Suite runs on Pay as you use, a model where the user can recharge a sum of money for their marketing campaigns and 5% is charged as platform fees for that out of the amount that is recharged. The licenses have 4 different plans – Free, Standard, Premium and Enterprise. The price of the licenses is based on the number of features required by the customer.

    ADOHM – Startup Challenges

    The most challenging part for ADOHM was to explain to the consumers that they are facing a problem and creating a need for a solution that will help them with their end to end marketing. “In the beginning, it was very difficult to make people understand what solutions we were offering and how it will solve most of their marketing challenges.” Added Kuldeep Chaudhary.

    Another challenge for this venture was to manage the attrition rate of the employees as it was a fast-paced growing industry and the churn of employees was very high.

    ADOHM – Growth

    ADOHM is currently working out of Bangalore, London, and New York. Some of its notable clients are – Sobha Developers, Apollo Hospitals, Puravankara, Brigade Group, Barbeque Nation.

    ADOHM – Awards and Recognition

    The awards and recognitions received by ADOHM are:

    • Digital Startup of the Year – Global Marketing Awards
    • The best campaign in Healthcare and pharmaceutical – Indian Marketing Awards
    • AI platform of the year – Zendesk
    • Best AI Platform – Realty Proptech Summit

    ADOHM – Future Plans

    The future plans for ADOHM are to expand in the European and North American markets.

  • Upvoty – Making single overview feedback possible!

    Feedback is the truest essence of business operations. With all the branding marketing initiatives undertaken by the brands, it becomes imperative for them to garner correct and complete feedback from their consumers. With the vision to build an optimum feedback software out there, Mike Slaats launched Upvoty in 2018.

    Upvoty is a user feedback tool with feature voting. With Upvoty you, as a software owner, one can easily collect and manage all of the user feedback such as feature requests, bug reports, or other ideas. Also, one can implement the feedback boards and product roadmap seamlessly into the application. Users can submit new feedback or upvote on existing ones. This way, as the product owner, one is always on top of customer needs.

    Startup Name Upvoty
    Headquarter Eindhoven, The Netherlands
    Sector SaaS
    Founder Mike Slaats
    Founded 2018
    Parent Organization Upvoty
    Website upvoty.com

    About Upvoty and How it Works
    Upvoty – Target Market Size
    Founders of Upvoty and team
    How was Upvoty Started?
    Upvoty – Name, Tagline, and Logo
    Upvoty – Startup Launch
    Upvoty – Business Model and Revenue Model
    Upvoty – Startup Challenges
    Upvoty – Growth
    Upvoty – Future Plans

    About Upvoty and How it Works

    Upvoty is the solution to an endless feedback loop. The Upvoty team themselves has experienced the hassle of collecting and managing feedback from different channels such as chats, emails, and phone calls. With this platform, the users have a central place for all of your customer feedback. They can create different boards for different purposes. Users can submit new requests and upvote on existing ones. Through Upvoty they can also communicate each step of the way by notifying all the voters that a request has gone ‘in progress’ or set to ‘live’. One can also comment and create discussions with users about why they need certain features and can even create a product roadmap to show your users what’s next. That’s how the platform provides one simple overview.

    Upvoty – Target Market Size

    Upvoty is focusing on SaaS companies. It launched its product as a general feedback tool for basically everybody. The team that thought every startup needs feedback to build a better version of their product, so they all would want to have software like Upvoty. Wrong. If there’s one thing the team has learned is that one has to narrow down the target audience and focus on one core (smaller) group. And that’s when the Upvoty team started to focus on SaaS specifically and since then has grown tremendously.

    “The SaaS market is an amazing community-driven world. We are getting tons of great feedback about our product, which helps us make it better and better.” Says Mike.

    Founders of Upvoty and team

    Mike Slaats, Founder of Upvoty
    Mike Slaats, Founder of Upvoty

    Mike Slaats is the sole founder of the company. Currently, Upvoty is a team of five and the team works fully remotely. Upvoty is looking forward to expanding its remote team with people in Europe, the Americas, and Asia because it is managing clients from all over the world. And this would improve customer support if the team can be present in all timezones.

    How was Upvoty Started?

    Upvoty is not the first startup that this team came up with. Before Upvoty, the team worked on another startup and it grew very quickly and because of the user growth, the amount of feedback quickly grew too. They received feedback on many different channels such as chat, phone, email, and social media. Thus, the team was required to find a way to collect and manage feedback in a better and efficient way.

    They researched the existing feedback tools and concluded that there wasn’t any who was either good enough or affordable for a startup. And that’s when they decided to build one.

    To validate the idea for a feedback tool like Upvoty, the team launched a landing page with an animation video and explained what Upvoty was all about. “We shipped it into the wild and quickly we received sign-ups from potential customers. After a few weeks, we hit 500+ sign-ups and that’s when we knew we were on to something.” Says Mike

    And they started coding the SaaS and after 5 months shipped the first beta product in November 2018. Upvoty offered the product for free to the first few customers in exchange for feedback, which helped the team build a better first version. In February 2019 they finally launched publicly and grew to an MRR of over $1,000 in just a couple of months.

    Upvoty logo
    Upvoty logo

    The founder Mike had come up with the name “Upvoty.” He was playing around with some names and eventually stuck with Upvoty because it was playful and would suggest immediately what it does: upvote! The tagline ‘Instant feedback, instantly better products’ really assist in telling the audience what can do with this product.

    Upvoty – Startup Launch

    Upvoty was launched on the founder’s social media channels, who had a big follower base on both Instagram as his newsletter. He also did a small YouTube series from designing the tool to the launch. Upvoty also launched in beta on Betalist, and later on publicly on Indie Hackers and Product Hunt. This resulted in new signups for the beta type and helped spread the word of the launch.

    The founder did a lot of interviews, shared a lot of the progress on his Indie Hackers profile, Twitter, and Instagram, and the team mainly focused on content marketing on the blog. Since they are more focused on their ideal ICP, with everything they do in marketing, they are getting more and more hits on the website. This resulted in more signups and paid clients. “We recently released an eBook which helped us get in front of 10s of thousands of new potential customers.” Said, Mike

    Upvoty – Business Model and Revenue Model

    Upvoty does not have a free plan or a freemium model. It started with paid plans right from the beginning. Its cheapest plan starts from $15 a month and allows the user to create 2 boards, have 3 team members, and 150 tracked users. Tracked users are users who participated on the boards by either upvoting, commenting, or posting new ideas. If one needs more users, team members, or boards, Upvoty has two other plans: Super Power ($25 a month), or our Unlimited Plan ($99 a month) which has everything included unlimited.

    Upvoty – Startup Challenges

    Branding is a major challenge in the SaaS world. There are a lot of SaaS competitors and Upvoty is in the constant need to stand out. That’s why the team focuses so much on sharing the progress with the community. They are all very appreciative. Launching the eBook, for example, wasn’t written to target potential customers, but just to share the process and progress on launching SaaS. “Because we gave away free knowledge in a space where our target audience is actively present, it did target some new customers.” Said Mike. Also, Upvoty tried to grow with paid ads, but it has too much competition from bigger software companies.

    Upvoty – Growth

    Upvoty recently signed its first enterprise company which is a major bank from India. They are coming on board with Upvoty for a great annual revenue plan.

    Upvoty – Future Plans

    Upvoty is aiming for an MRR of $10,000 before the end of 2020. “We’re hoping to accomplish this by doing more demos, making our product better for bigger teams so we can acquire bigger companies and enterprises. This should boost our MRR.” Said, Mike.