Upon graduation and deciding about my career strategy, I was looking through Deloitte’s 2020 Technology Fast 500. Finding a booming industry and a high potential firm has always sound like a great plan for me. Among the top-10 Technology Fast 500 list of 2020, half of them are Software/SaaS companies and the other half are Biotechnology/Pharmaceutical companies! What a surprise! (If you don’t get the irony tone here, read more news!) I have heard SaaS several times in the past year but had never did my research on it.
Apparently this is where people rent their software instead of purchasing it. The top 5 company in 2020 include Branch Metrics, OneTrust, Transmit Security, Drift, and CharterUP. With each of them reach a % growth more than 20,000%. I did a little more reasearch for each of these companies and here is what they do:
- Branch Metrics: Branch is a developer of deep linking technology used to gain and retain mobile app users. Its deep linking technology is used to build user-to-user referral programs with features, including rewarded referrals, content sharing, deep-views, download banner, and personal onboarding that enable users to customize the whole app experience that makes discovering apps and app content easier. Branch helps companies drive seamless mobile experiences through its linking infrastructure powering thousands of today’s top brands, includes instacart, reddit and BuzzFeed etc.
- OneTrust: Partnering with AWS, OneTrust has more than 10,000 customers. Their product helps companies to manage privacy, security, data governance, GRC, third-party risk, ethics and compliance, and ESG programs. In a simple word, they can help you screen out all the information that you hope to not show or will cause you some trouble.
- Transmit Security: Offer identity protection through authentication experience that includes a mobile biometric authenticator. Transmit’s identity platform is low code, centralized and agile, seamless and secure. A solution that is proven to reduce all forms of identity attrition and save companies substantial costs. Ever use the phone face/fingerprint lock to unlock your bank app? Well if you are a UBS or Santander customer, this is happening thanks to this company!
- Drift: Want a robot to help you book meetings and automatically answering client questions? Drift provides a conversational marketing platform. The way I see it, a Siri for every company! Just this one don’t talk.
- CharterUP: Arrange bus for Microsoft, Google, Amazon, Facebook and Apple? Wow this company got the whole Seattle and Sillicon Valley covered. CharterUP has created the first and only real-time marketplace that allows clients to book and secure bus charters in as little as 60 seconds.
My takeaway from this? SaaS and software companies found dig their gold from other business. More 2B.
This is where people can rent infrastructure!
Infrastructure as a service (IaaS) is a form of cloud computing that provides virtualized computing resources over the internet. IaaS is one of the three main categories of cloud computing services, alongside software as a service (SaaS) and platform as a service (PaaS).
IaaS use cloud orchestration technology to manages the creation of a virtual machine (VM) and decides on which physical host to start it, enables VM migration features between hosts, allocates storage volumes and attaches them to VMs, tracks usage information for billing and more. IaaS clouds often offer additional resources such as a virtual-machine disk-image library, raw block storage, file or object storage, firewalls, load balancers, IP addresses, virtual local area networks (VLANs), and software bundles.
Even better than IaaS, if you need not only the infrastructure but also easy to use add-ons, PaaS can give you the whole deal. PaaS is a type of cloud computing offering in which a service provider delivers a platform to clients, enabling them to develop, run, and manage business applications without the need to build and maintain the infrastructure such software development processes typically require.
PaaS is suitable for software developers and it allows for full control to create custom software, support for different programming languages. However platform outage is equal to software outage, less flexible when compared to IaaS.
The worldwide public cloud services market is forecast to grow 17% in 2020 to total $266.4 billion, up from $227.8 billion in 2019
The best part of having cloud? Reduce cost!
Cloud can either be exclusively built for an organization, i.e., enterprise cloud or, it can be commonly accessed by various organizations, i.e., a public cloud. In specific, cloud-based services such as IaaS, PaaS, and SaaS fall under the umbrella of the public cloud that offers useful services on the go.
Here is different business applications of IaaS, PaaS and SaaS:
Other Interesting related reading:
– IaaS vs PaaS vs SaaS – Which Cloud Service Wins the Battle?