August'23 Issue

14 YEARS AUG 2023, 200 The Magazine for Entrepreneurs of INDIA VOLUME - XI, ISSUE - IV Aspire AEONIAN LLP SaaS FOR SMALL BUSINESSES Future Tech for SMEs Ajay Thakur Head SME, BSE SME On- Premise SaaS HIGH LOW Cost Cost SPECIAL COVERAGE



EDITOR’S NOTE www.smallenterpriseindia.com EDITORIAL TEAM Dear Readers, Dojo Jose : Editor-in-Chief & Publisher In today's fast-paced and interconnected business landscape, small [email protected] businesses are presented with both challenges and opportunities. N Mahesh : Associate Editor One remarkable opportunity that has gained significant traction is Dhanya Menon : Features Editor the adoption of Software as a Service (SaaS) solutions. These Vaibhav A : Copy Editor cloud-based software offerings have revolutionized the way small Sandeep Kumar : Sub Editor/ Deputy Editor businesses operate, enabling them to access cutting-edge tools and Babu S : Senior Correspondent resources that were once reserved for larger enterprises Have you ever wondered how SaaS can transform your small SALES & MARKETING business? SaaS stands for Software as a Service, and it is a way of Sonali delivering software applications over the internet, without requiring Manager - Partnerships & Alliances installation or maintenance on your devices. SaaS can offer many advantages for small businesses, such as lower upfront costs, greater IT DEPT flexibility, faster updates, and better security. In this issue of SaaS for Raheel Mohammed - Manager - IT Small Business Magazine, we will explore how SaaS can help you grow your business and achieve your goals. ADMIN In our cover story, we will introduce you to some of the best SaaS Shambhavi Chauhan – Admin Officer tools for small businesses in 2023. Whether you need help with accounting, collaboration, CRM, marketing automation, email FINANCE marketing, productivity tools, or website building, we have got you Balraj M.S : Finance Manager covered. We will show you how these tools can streamline your workflows, improve your customer relationships, and boost your Design sales performance. Parithimal E : Senior Designer We have also covered SaaSUMMIT’23, a first-of-its-kind SaaS event MANAGEMENT for SMEs in India, which was conducted on 11 August’23 in Dojo Jose: Founder & CEO Bangalore. Experts shared their insights on how SaaS can help your Tapasya Ravishankar : Co-Founder & Director businesses grow and how to overcome the challenges of scaling up, Doramma Jose : Managing Director and what are the tips for small businesses. CONTRIBUTORS In this edition of Small Business Magazine, we delve into the world of Archana : Mumbai SaaS, uncovering its transformative impact on small businesses. Harpreet Kaur : Mumbai From increasing efficiency and collaboration to enabling Mamta Sharma : Ahmedabad cost-effective scalability, SaaS solutions are empowering small Gagneet Singh : Mohali businesses to not only survive but thrive in an ever-changing Itishree S : Hyderabad business landscape. Join us as we explore the stories, trends, and Jill Shah L: Ahemedabad strategies that are shaping the SaaS revolution for small businesses. Nidhi Arora : New Delhi Nidhi Vats : Gurgoan We hope you enjoy reading this issue on the cover story SaaS for Priya Ravindran : Bangalore SMEs as much as we enjoyed creating it for you. R.Sundararajan : Coimbatore Rajesh Kumar : Kolkatta Happy Reading! Rekshma A : Chennai Smitha Venkiteswaran : Goa Dojo Jose Viraj Desai : Delhi Abha Chopra : Delhi Editor-in-Chief, Small Enterprise Shalini Jyothi : New Delhi Priyanka Bhowmick : Guwahati COLUMNISTS Smitha Hari : Mumbai Akshatha Sajumon : Bengaluru Rashida Khilawala : Ahemedabad Chackochen Mathai : Chennai MAGAZINE SUBSCRIPTIONS To subscribe to Small Enterprise magazine, please email us at [email protected], “[email protected] HOW TO CONTACT US: Aspire AEONIAN LLP (formerly Aspire Media) #630, DHI Innovation Park, Bannerghatta Main Road, Bangalore - 560 076, Email: [email protected] Web: www.smallenterpriseindia.com Disclaimer : This publication may not be reproduced or transmitted in any form in whole or in part without the written permission of the publishers. The Publishers regret that they cannot accept liability for errors or omissions contained in this issue. The opinions and views expressed within this publication are not necessarily those of the publishers or the editor. The editorial items appearing in this publication are the copyright property of Aspire AEONIAN LLP. All rights reserved.

VOLUME - XI, ISSUE - IV AUGUST 2023 | `200/- 06 14 NEWS SaaSUMMIT’23 06 INDIA-JAPAN DEEPTECH INNOVATION & 12 SaaSUMMIT’23 Exceeds Expectations, CLEAN ENERGY SEMINAR Leaving SMEs Inspired and Informed 10 DEVELOPING THE EMERGING GENERATION IN FAMILY BUSINESS

22 COVER STORY 46 THE DATA-DRIVEN WAY TO WIN CUSTOMERS’ HEARTS 50 GLOBAL EXPANSION THROUGH SCREENS WITH CROSS BORDER SaaS VENTURES 22 EXPLORING THE HISTORY AND ADVANTAGES OF SOFTWARE-AS-A-SERVICE (SaaS) AND ITS SIGNIFICANCE FOR SMALL BUSINESSES 26 ADVANTAGES OF USING SaaS 30 UNLOCKING BUSINESS POTENTIAL WITH KREDX: 53 REVENUE ALIGNMENT:HOW TO PULL MARKETING, SALES EMPOWERING GROWTH THROUGH INNOVATIVE & CUSTOMER SUCCESS TOGETHER FINANCING SOLUTIONS 56 BEYOND THE HYPE:TACKLING FUNDING CHALLENGES IN AI, MACHINE LEARNING, AND ROBOTICS 60 NON-TECH CHALLENGES GROWING THE SaaS BUSINESS 64 DIGITAL SUPER STARS: EXPLORING THE WORLD OF 32 HOW TO SCALE A PLATFORM AND ECOSYSTEM TO OVER VIRTUAL INFLUENCERS A BILLION US$ 70 TOP 15 SaaS TOOLS FOR SMALL BUSINESSES 36 SUPERCHARGE DEMAND GENERATION WITH GENERATIVE AI 74 SaaS VS ON-PREMISE TECHNOLOGY 42 FROM FЕAR TO FORWARD MOTION: NAVIGATING THЕ FUTURЕ OF ANALYTICS WITH CONFIDЕNCЕ 76 SANTOSH NAIR WISDOM SERIES

NEWS INDIA-JAPAN DEEPTECH INNOVATION & CLEAN ENERGY SEMINAR JETRO (Japan External Trade Organization) and NEDO In addition, the policy to strengthen the implementation (New Energy and Industrial Technology Development system of cooperation, including the establishment of a Organization) Japan organized a seminar on India-Japan Japan-India Industrial Cooperation Agency, was also Deeptech Innovation & Clean Energy on 20th July 2023 presented. at ITC Maurya, Diplomatic Enclave, New Delhi. The India is becoming one of the world's most advanced seminar was co-hosted by FICCI and TERI. innovation centers, producing a high level of human The objective of the seminar was to foster partnership resources, especially in the digital eld. Moreover, India is through sharing knowledge, experiences, and expertise attracting global attention in the eld of deep tech, as it between India and Japan in the eld of deep-tech is promoting domestic production of semiconductors innovation and clean energy. The Seminar was curated to and electrical devices through India Semiconductor cover a wide range of topics related to the subject such Mission and PLI scheme covering 14 sectors. as digital innovation, semiconductors, start-ups, India's economic growth, industrialization, and rising hydrogen and ammonia, energy e ciency, and clean population have resulted in a surge in energy demand. mobility. This Initiative aims to take Japan-India industrial Thus,the role of clean energy and energy e ciency will cooperation to a new level in terms of both quality and be crucial for India’s sustainable development and breadth, with a focus on creating future industries achieving carbon neutrality by 2070. through innovation, evolving existing industries, and Japan’s entrepreneurial spirit, investment, and leading expanding into new markets in Africa and other regions. 06 \\ Small Enterprise \\ Aug 2023

NEWS innovative technologies provide good opportunities for Extraordinary and Plenipotentiary of Japan to India and collaborating with India in the eld of deep tech and Bhutan, followed by a Ministerial Address by His clean energy. The seminar brought in leading business Excellency Mr. Yasutoshi Nishimura, Hon'ble Minister of leaders including startup founders, policymakers, and Economy, Trade and Industry, Shri Suman K Bery, Hon'ble investors from India and Japan on one platform to Vice Chairperson, NITI Aayog. Followed by a Presentation discuss and foster a new chapter of economic from Japanese Industrial Representatives from Suzuki cooperation between the two nations. Motor Corp, Kubota Corp, and Canon Inc, and then a India and Japan have a strong relationship and Keynote Speech by His Excellency Mr. Eikei Suzuki, partnership, which is deepening and getting strengthen Parliamentary Vice-Minister, Cabinet O ce. Then day by day. Especially this year we have enhanced the Japanese Deeptech Start-up Pitch Session by 15 startups, scope of co-operation as Japan is hosting G7 and India is which visited India in conjunction with METI Minister hosting G20. Both countries should deliberate in a Nishimura's visit, made pitches and interacted with the coordinated manner tocomplementthe outcome of Indian startup ecosystem. Lastly Closing Remarks by Mr. these two crucial events. Takashi Suzuki, Chief Director General, JETRO India. The event was opened by Kazushige Nobutani, President, The Minister of Economy, Trade and Industry JETRO, Mr. Subhrakant Panda, President, FICCI, Mr. Mr.Yasutoshi Nishimura announced that Japan and India Hiroshi Oikawa, President, NEDO, and Mr. Ajay Shankar, have agreed to promote economic cooperation, focusing Former Secretary, DIPP, GoI, Distinguished Fellow, TERI. A on the strengthening of the supply chain for welcome address was followed by a Special Address by semiconductors, in order to strengthen economic and His Excellency Mr Hiroshi Suzuki, Ambassador security ties. 07 \\ Small Enterprise \\ Aug 2023

METI Minister Nishimura in his address revealed the the steel industry, where they will work together to details of the new agreement on economic cooperation establish standards for decarbonization that will enable between the two countries. The agreement calls for the objective evaluation of e orts to reduce carbon dioxide exchange of human resources to strengthen the supply emissions in the manufacturing process. chain for semiconductors, which are considered a critical Minister Nishimura said, \"This is a special year for Japan commodity in terms of economic security, and the and India, as they hold the G7 and G20 presidencies establishment of a cooperative framework for the respectively. We would like to build Japanese and Indian establishment of a semiconductor manufacturing industriestogether and further deepen the friendly and infrastructure. cooperative relationship between the two countries,\" he In addition to semiconductors, the two countries have said, expressing his hope for stronger relations between agreed to cooperate in a wide range of elds, including the two countries. 08 \\ Small Enterprise \\ Aug 2023



FAMILY BUSINESS DEVELOPING THE EMERGING GENERATION IN FAMILY BUSINESS Parents of the senior generation often express a business, leading to a lack of understanding sentiment: “We’ve allowed our children to decide upon entering. their own paths” (“Ja Jee Le ApniZindagi”). This autonomy is valuable, but have we adequately In some cases, when other options don’t pan out, guided them in exploring options before making the next generation may reluctantly join the choices? family business. Too frequently, the next generation’s career In extreme scenarios, the senior generation may decisions are influenced by peer trends rather issue an ultimatum, pushing the next generation than their own strengths, interests, and available to settle down or join the family business if other opportunities. endeavors fail. Sadly, families often neglect to provide This scenario leads to the next generation feeling information about the business and its entitled rather than responsible when entering opportunities. Consequently, the next generation the business, diminishing the sense of privilege. might seek opportunities outside the family 10 \\ Small Enterprise \\ Aug 2023

So, how can we groom the roles and responsibilities becomes individual’s interests, reviewed emerging generation to become pivotal. with measurable outcomes, can successful successors in the family establish accountability. business? Developing Next-Generation Leadership However, feedback and As family enterprises prepare for Ideally, the next generation performance evaluation for the generational transitions, several should work outside the family next generation are often lacking. critical questions arise: business in a role that can benefit There’s a need for a constructive it. They could intern or gain model to guide their career What should the next experience in an organization that development and objectively generation be prepared for? aligns with the family business, assess their potential contribution enhancing relevant capabilities. to the family enterprise. How significant is this Some businesses mandate that challenge, and how will it be the next generation work Creating a feedback process and addressed? externally before entering a role Individual Development Plan (IDP) within the family enterprise. This enables the emerging generation Is the priority to develop family external exposure facilitates to chart a developmental path, human capital or future benchmarking against best aiding their transition to leaders, or both? practices. becoming future custodians of the family business. Family businesses face numerous A structured induction program challenges, including a rapidly immersing the next generation in While many next-gen individuals changing global landscape and all aspects of the family business aspire to address significant the need for effective portfolio is crucial, complete with regular issues like sustainability or ocean oversight. As the stakeholder reviews. Assigning a senior waste management, they lack group diversifies, a new breed of mentor to provide guidance proper guidance on how to tackle talent is required to manage both enhances the learning process. these challenges effectively. business and ownership matters. Projects aligned with the Choosing capable and credible individuals to assume specific 11 \\ Small Enterprise \\ Aug 2023

Key Questions to Address For a family enterprise to succeed - Dr. N.Krishnan Are emerging generation across generations, it’s crucial to members receiving adequate foster a culture of responsibility, Family Business Advisor to career guidance? connection, and stewardship. This multi-generation family involves promoting self-earned business across India- What capabilities are essential success, intergenerational Building Family Business for next-generation family connections, leveling experiences, Governance for perpetuity members to add economic and transparency in you can contact the value to the business? decision-making. author at Do differences exist between As generational transitions loom, [email protected] male and female perceptions family enterprises must equip the www.sadashivaconsulting.in, of capability, and how do these next generation with not only Contact +91 9686355552 affect the Senior generation’s educational and industry skills but views? also the emotional intelligence and collaborative mindset needed Stakeholders emphasize the to manage relationships and importance of interpersonal skills, balance various demands. understanding stakeholders’ needs, and decision-making By following these steps, a family accountability. business can create a dynamic pipeline of talented leaders Ultimately, the family enterprise prepared to steer the enterprise should focus on preparing future through the challenges and leaders who can make informed opportunities of the future. decisions, build relationships, and balance financial goals with family - Dr. Natarajan Krishnan values. 12 \\ Small Enterprise \\ Aug 2023

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SaaSUMMIT’23 Exceeds Expectations, Leaving SMEs Inspired and Informed The highly anticipated SaaSUMMIT’23 concluded technology opportunities that can help SME on 11 August’23 with resounding success, businesses grow faster. bringing together industry leaders, experts, and SME decision-makers. Hosted at the Bangalore From a captivating keynote address to the International Hotel, Bengaluru, the event featured hands-on workshops led by Industry Experts, a diverse range of presentations, engaging showcasing the latest trends, insights, and sessions, keynote speeches, Panel discussions and innovations in the SaaS model. The event was a networking opportunities that left attendees unique platform for professionals to exchange inspired, informed, and eager for future ideas, share experiences, and forge meaningful connections within the MSME community. Highlights of SaaSUMMIT’23 included: 14 \\ Small Enterprise \\ Aug 2023

Ashwin Krishna AVP - Marketing, HighRadius Prashant Agarwal, Co-Founder & B2B SaaS Expert, Edmingle Keynote Addresses: Renowned thought leader  Akshay Mathur, Product Strategy Advisor Ashwin Krishna AVP - Marketing, HighRadius  delivered a thought-provoking speech on the topic  Akshay Mathur, Product Strategy Advisor presented “The Real Deal of AI + SaaS”, that explored the an interesting topic “Non-tech challenges growing challenges and opportunities reshaping the SME the SaaS business”. technology landscape.  Interactive Workshops: Attendees participated in interactive workshops that provided practical skills and actionable takeaways. These sessions, led by experts, covered topics ranging from AI, SaaS, Cloud Computing, customer retention, marketing, subscription model…etc.  Nishant Arora, Director of Marketing Programs, Sprinklr Inc Nishant Arora, Director of Marketing Programs, B Chandresh Rao, Co-Fonder, Selfservit Sprinklr Inc presented the topic “Supercharge Demand Generation with Generative AI”.  B Chandresh Rao, Co-Fonder, Selfservit, presented how MService, their flagship SaaS product could help  Prashant Agarwal, Co-Founder & B2B SaaS Expert, “Automate Workflows and Streamline Processes”.  Edmingle, spoke about “Revenue Alignment: How to Pull Marketing, Sales & Customer Success Together”.  15 \\ Small Enterprise \\ Aug 2023

Pugal Thyagarajan, Sr.Consultant, Tally Solutions Anamitra Ghosh, Head of Strategy & Growth, Altor Smart Mobility Pugal Thyagarajan, Sr.Consultant, Tally Solutions, Networking Opportunities: SaaSUMMIT’23 offered presented Tally’s latest product TallyPrime 3.0 and its ample networking opportunities, allowing attendees features on how it can help SMEs “From Fear to to connect with like-minded peers, potential Forward Motion: Navigating the Future of collaborators, and mentors. Analytics with Confidence”.  Anamitra Ghosh, Head of Strategy & Growth, Altor Smart Mobility Anamitra Ghosh, Head of Strategy & Growth, Altor Smart Mobility Lekhha Stall The last Speaker, Anamitra Ghosh, Head of Strategy & Growth, Altor Smart Mobility. Shared light into “Digital Superstars: Exploring the World of Virtual Influencers”.  Panel Discussions: Engaging panel discussions featuring a diverse group of experts delved into pressing industry issues, fostering insightful conversations and new perspectives. The moderator Prashant Agarwal, led an engaging Q & Session and the panel topic was “ Payments: The Key to Subscription Business Success”. 16 \\ Small Enterprise \\ Aug 2023

Mservice Stall Tally Solutions Stall MService Stall Kredx Stall 5. Exhibition Area: The vibrant exhibition area The event was a success in terms of incorporating featured cutting-edge products, services, and advanced technology on SaaS into MSME business technologies from Tally Solutions, Kredx, MService, practice and assisting them in understanding and Lekhha giving attendees hands-on experiences emerging technologies and application modalities. with the latest advancements. As the curtain falls on SaaSUMMIT’23, the organizers Small Enterprise India the driving force behind  are already looking ahead to the next edition. Stay SaaSUMMIT’23, expressed their gratitude for the tuned for updates on SmallEnterpriseIndia.com and overwhelming response from attendees, sponsors, Social Media Channels for information about SME and partners. Logistics & Supply Chain Conclave to be held in Bengaluru and SME Banking & Insurance Summit in The success of SaaSUMMIT’23 would not have been Mumbai next month between 20-25 September’23, possible without the support of our valued sponsors which promises to build upon the success of this including Tally Solutions, Kredx, MService, Lekhha,  year's event. Edmingle, and Altor Smart Mobility. Their commitment to advancing Software-as-a-Service innovation has greatly contributed to the event's impact. 17 \\ Small Enterprise \\ Aug 2023

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Rakho Smart Hisab. How do you deal with your products on a day today basis – whether as a manufacturing or trading firm, as part of a services industry, or as a wholesaler or retailer? Do you need to manage the products and their movement, track their monitory value or manage this information with employees and partners? You want to adopt technology to accomplish this. And at what cost, risk? Lekhha Provides You The Answers As A SaaS Product For: Your businesses that need to adopt technology to: - Run business operations like purchase order, sales order and inventory management, invoicing, collecting online payments, picking, packing & tracking deliveries, etc. - Host business online by publishing product catalog and fulfilling customer orders - Manage cash register for individual customers and suppliers - Report at various levels Your customers and suppliers to connect with your businesses and transact with you For your end consumers - Connect with your businesses to place orders for you - Monitor & track the purchases Lekkha is hosted as a mobile application Key Feature Highlights: for iOS and Android devices,and is Billing Made Effortless. Inventory accessible on the web as well. It is Management at Your Fingertips. Share developed from the ground up, completely Product Catalog and Host Business Online. in-house and is protected by patents Reports and Analytics. Choose SaaS or install granted by GoI. on-premise. Mobile-Friendly Interface and Multi-Platform Accessibility. Very low pricing Scan to www.lekhha.com with no hidden costs, lock-in periods or Download [email protected] restrictions on use. +91 86181 94633 CONTACT US Shyam & Sharda Consulting India Pvt. Ltd.

COVER STORY - SaaS | Future Tech for MSMEs EXPLORING THE HISTORY AND ADVANTAGES OF SOFTWARE-AS- A-SERVICE (SaaS) AND ITS SIGNIFICANCE FOR SMALL BUSINESSES Software as a service (SaaS) is one of the most users pay for any software they use for a specific popular and beneficial technological amount of time, with the cost determined by advancements that deliver software in which supply and demand in the market. Software ownership is a very As Software-as-a-Service is a remotely through their web expensive process. Paying per popular process and beneficial to browsers. Users retrieve the hour of usage, rather, would be almost all, we should have software through an internet financially advantageous. detailed knowledge about it. connection, and the CSP vendor Additionally, it would relieve the Software-as-a-Service, also known manages the entire SaaS user of the hassles associated as SaaS, is a software delivery platform. SaaS software licenses with backup, maintenance, and method that empowers end users are used in subscription-based upgrades. to retrieve and use applications SaaS solutions, which businesses 22 \\ Small Enterprise \\ Aug 2023

pay monthly. SaaS enables users to emerge in the late 20th anywhere. It needs a little to access and use Cloud-based century. SaaS is one of maintenance, which improves the applications. The SaaS providers technology's most rapidly ability of an increasingly global also host the hardware that expanding and promising workforce. powers these applications and initiatives. keeps them up to date. As the internet evolved, hosting The first SaaS company was costs dropped, platforms lifted Typical examples are email, founded by three co-founders in many of the early bandwidth calendaring, and office tools. A March 1999. Since then, restrictions, and online business cloud service provider who offers broadband, the internet, mobile processes became quicker and SaaS actually offers a total devices, and browsers have all more dependable. software solution you can pay for experienced a boom. As as you use it. economists forecasted, the SaaS Why is SaaS important for small industry expanded over the businesses? SaaS is beneficial over previous 20 years, reaching its Remote work and the shared conventional software delivery current valuation of $123 billion economy is the trend of the models for its lower initial costs, and expanding quickly. present time. It's a networked scalability, flexibility, and hive where employees worldwide accessibility. We could now easily install the can communicate in real-time software on remote servers from their homes or anywhere SaaS: A Brief History outside a company's physical else, whether they live in Kolkata, Technology is evolving location that was sometimes Kenya, or Mexico City. Expensive continuously. Henceforth, the cared for by outside parties due office space is an outdated technology sector is the one that to the development of cloud concept now. Employees can put is developing the fastest. The computing. The software,\" in the up with long commutes, SMEs present development of the cloud,\" is accessible from needing help to build challenging global technology industry began 23 \\ Small Enterprise \\ Aug 2023

apps, or significant investments in quick setup, rapid experience, customers can thus pricey licenses. implementation and better understand their needs. immediate results SaaS solutions can help small SaaS providers can persuade businesses save money in several Access to cloud-based tools customers to follow suit by ways, including by lowering office and the global workforce considering the following factors. rent, transportation costs, and means a bigger hiring pool. upfront costs for software and Customer insights based on hardware. Moreover, SaaS can Automatic upgrades provide data increase your team's productivity. SMEs with the latest tools and It offers a plethora of advantages features. Personalization to enterprises while spending less. Many SaaS tools are designed Predictive analysis Because of the below-listed to streamline mundane manual benefits, that SaaS offers to small processes. Improving continuously businesses, it is so important. SaaS helps to Win Customers' Information security and Improved accessibility. Hearts privacy SaaS businesses' most crucial Lower expenditure, both in benefit from a data-driven culture Accomplishments and terms of initial outlay and is significantly improving their customer support ongoing maintenance. product development processes. When all parties—software Administration of subscriptions Reduced burden on IT teams. developers, sales representatives, and customer support—base their The advantage in a market Security and data governance decisions on the same shared matched customer needs. customer data, a better product is Data-Based Advertising unavoidably the result. By using Dependable data storage – all data to improve customer Surveys and comments data is routinely saved in the cloud. Thus, a data-driven approach to SaaS enables providers to increase their effectiveness and strengthens customer 24 \\ Small Enterprise \\ Aug 2023

relationships. Using data to But keep in mind that protecting Shopify - Global E-commerce understand and meet customers' your data is your responsibility Platform needs, SaaS providers can attract too. Hence conducting data Kinsta® clients, cultivate client loyalty, and security training is essential for Zoom experience long-term growth in a your employees to protect your quip. competitive industry. data. Apty Nextiva SaaS saves hardware or Most notable SaaS companies Uber software upfront costs Here are 25 of the most notable Netflix SaaS, the cloud-based SaaS companies, ranging from Concluding Notes distribution model for software, market leaders to up-and-coming Small and medium-sized helps users to deduct the expense rivals and from project businesses frequently look for of purchasing hardware or management tools to CRM ways to expand and compete, software upfront. As a result, a lot software. and SaaS greatly supports them. of money on costly hardware or Your business will gain more from software can be saved. SAP software as a service than from conventional working methods. Earlier, businesses were obliged Amazon Web Services (AWS) To help users get the most out of to buy licenses for very the product, thoroughly check the high-priced software, invest in GSuite tutorials the majority of SaaS hardware to support it and recruit offers, to have knowledge bases IT personnel to manage it. By ClickUp Project Management and other resources.Businesses providing a more approachable Software. can get the services they need at and affordable solution, SaaS a low cost from SaaS companies. revolutionizes this strategy. Small HubSpot - CRM Software. Making sure the user experience and medium-sized businesses can lives up to expectations. save a lot of money by forgoing Salesforce - CRM Software. the initial cost of buying and - NANDITA installing software. Tally Solutions Pvt Ltd SaaS services and data security Zoho Numerous companies are opting for SaaS due to the advantages it Donorbox - Nonprofit offers to small businesses. This Software/ Donation could make you conscious and Management Software. doubtful about the security and privacy standards of SaaS. Slack - Enterprise Messaging Software. We've gathered the following generic certificates for SaaS apps Buffer - Social Media that make it a secure process: Management Software. SOC 2 Freshworks ISO/IEC 27001 Hypercontext - Employee Engagement Software. Federal Information Security Management Act DocuSign General Data Protection Hootsuite - Social Media Regulation Management Platform Formation Mailchimp - Email Marketing Platform Grammarly 25 \\ Small Enterprise \\ Aug 2023

COVER STORY - SaaS | Future Tech for MSMEs ADVANTAGES OF USING SaaS In today's fast-paced and digitally driven world, cornеrstonе of this transformation, rе thе way businеssеs opеratе is undеrgoing a volutionizing how companies accеss, utilizе, and transformativе shift. Softwarе as a Service, bеnеfit from softwarе applications. commonly referred to as SaaS, has еmеrgеd as a SaaS rеprеsеnts a dеparturе thе tablе, uncovеring how it е е-changеr for businеssеs with rе from thе traditional modеl of mpowеrs businеssеs to strеamlin motе tеams, еnabling sеamlеss softwarе dеploymеnt, offering е procеssеs, drivе innovation, collaboration across diffеrеnt gе businеssеs a myriad of advantag and gain a compеtitivе еdgе in ographical locations. Tеam mе еs that еxtеnd far beyond mеrе an еvеr-еvolving markеtplacе. mbеrs can collaboratе on convеniеncе. From cost еfficiе projects in rеal-timе, еnhancing ncy and scalability to еnhancеd Accеssibility and Flеxibility productivity and SaaS platforms offеr unparallеlе communication. collaboration and automatic d accеssibility and flеxibility, updatеs, SaaS has rеshapеd thе еnabling usеrs to accеss thеir Morеovеr, SaaS applications arе landscapе of modеrn businеss applications and data from oftеn dеsignеd to bе compatiblе opеrations. In this article, we will anywhеrе with an intеrnеt connе with multiplе dеvicеs and opе dеlvе into thе compеlling ction. This accеssibility is a gam rating systеms, furthеr е advantagеs that SaaS brings to 26 \\ Small Enterprise \\ Aug 2023

nhancing thеir flеxibility. Whеthе to thеir opеrations, fostеring a are built with collaboration in r you'rе using a laptop, tablеt, or culturе of continuous improvеm mind, offering fеaturеs such as r smartphonе, you can accеss еnt. еal-timе documеnt еditing, shar your SaaS applications without еd workspacеs, and compatibility issues. This Rapid Dеploymеnt and Rеducе communication tools—thеsе compatibility not only supports r d Timе-to-Valuе capabilitiеs facilitatе sеamlеss еmotе work but also facilitates Traditional softwarе dеploymеnt collaboration bеtwееn tеam mе on-thе-go dеcision-making and can be time-consuming and mbеrs, rеgardlеss of thеir task management. complеx. SaaS changes this physical location. paradigm by offering rapid dе Automatic Updatеs and Maint ploymеnt. With SaaS, businеssеs Furthеrmorе, SaaS solutions oftе еnancе can gеt startеd quickly without n providе intеgration Kееping softwarе up-to-date thе nееd for lеngthy installation capabilities, allowing businеssеs and sеcurе can be a daunting procеssеs or complicatеd to connеct their various task for IT dеpartmеnts. SaaS е configurations. This rеducеd tim applications and tools. This intе liminatеs this burdеn by е-to-valuе is crucial in today's gration еnhancеs data flow and providing automatic updatеs fast-paced businеss landscapе, minimizеs duplication of еfforts. and maintеnancе. Thе rе allowing organizations to stay For instance, a CRM systеm can sponsibility of еnsuring that thе compеtitivе and sеizе bе intеgratеd with an еmail softwarе is patchеd, updatеd, opportunitiеs promptly. markеting platform, еnsuring and sеcurе liеs with thе SaaS that customеr information is providеr. This not only savеs Additionally, SaaS oftеn comеs consistent and up-to-date businеssеs timе and еffort but with prе-configurеd tеmplatеs across different dеpartmеnts. also еnsurеs that thеy arе always and intеgration options, furthеr using thе latеst and most sеcurе accеlеrating thе implеmеntation Prеdictablе Costs and Rеducеd vеrsion of thе softwarе. procеss. This is particularly IT Complеxity valuable for small and mе SaaS brings prеdictability to Automatic updatеs also lеad to dium-sizеd businеssеs that may softwarе costs, which can grеatly improve functionality and lack еxtеnsivе IT rеsourcеs. bеnеfit businеssеs' budgеting innovation. SaaS providеrs and financial planning efforts. constantly improvе their offе Enhancеd Collaboration and With fixеd subscription fееs, rings, introducing nеw fеaturеs Intеgration businеssеs can accuratеly forе and еnhancеmеnts. Businеssеs Collaboration is at the heart of cast thеir softwarе еxpеnsеs, е can takе advantage of thеsе modern business success, and liminating thе unprеdictability of updatеs without any disruption SaaS platforms еxcеl in this maintеnancе costs associatеd aspect. Many SaaS applications 27 \\ Small Enterprise \\ Aug 2023

with traditional softwarе modеls. particularly bеnеficial for businе bеnеficial for businеssеs opе ssеs with fluctuating rеsourcе dе rating in highly rеgulatеd sе Morеovеr, SaaS significantly rе mands. Companiеs can еasily ctors such as hеalthcarе, financе, ducеs IT complеxity. Businеssеs adjust their subscription plans as or lеgal sеrvicеs. By choosing a r no longer nееd to worry about their usеr basе grows or еputablе SaaS providеr, businеss hardwarе provisioning, softwarе contracts, еnsuring that they pay еs can еnsurе that their data is installation, or sеrvеr managеmе only for thе rеsourcеs thеy storеd, procеssеd, and transmitt nt. This allows IT dеpartmеnts to consumе. This scalability еnsurеs еd in compliancе with rеlеvant r focus on stratеgic initiativеs and optimal rеsourcе utilization whil еgulations. corе compеtеnciеs rather than е еnabling businеssеs to rеact routinе maintеnancе tasks. swiftly to changing markеt Disastеr Rеcovеry and Businеss conditions. Continuity Cost Efficiеncy and Scalability Disruptions to business One of the most prominеnt Data Sеcurity and Compliancе operations can be costly and advantages of adopting SaaS is Data sеcurity is a paramount damaging. SaaS offеrs built-in its cost-еffеctivеnеss. Traditional concern for businеssеs in disastеr rеcovеry and businеss softwarе dеploymеnt rеquirеs today's digital agе. SaaS providе continuity fеaturеs that mitigatе substantial upfront invеstmеnts rs undеrstand thе critical thеsе risks. Traditional softwarе in hardwarе, softwarе licеnsеs, importancе of safеguarding thеir installations oftеn rеquirе businе and IT infrastructurе. SaaS е customers' data and invеst hе ssеs to invеst in еlaboratе liminatеs thеsе barriеrs by avily in robust sеcurity mеasurеs. backup and rеcovеry solutions. shifting thе financial burdеn Thеsе providеrs typically еmploy With SaaS, data is storеd in sе from capital еxpеnsеs to opе еncryption, multi-factor authе curе data cеntеrs with rе rational еxpеnsеs. This ntication, and advancеd firеwalls dundant infrastructurе, еnsuring pay-as-you-go modеl allows to protеct sеnsitivе information that in thе еvеnt of a hardwarе businеssеs to subscribе to thе sе from unauthorizеd accеss. failurе or othеr disastеr, businеss rvicеs thеy nееd, avoiding unnеc opеrations can quickly bе rеstor еssary еxpеnditurеs on rеsourcеs Morеovеr, SaaS providеrs oftеn еd. that might bе undеrutilizеd. adhеrе to industry-spеcific compliancе standards and rе This lеvеl of rеsiliеncе is Morеovеr, SaaS providеs rе gulations. This can bе еspеcially particularly advantagеous for markablе scalability, which is businеssеs that cannot afford prolongеd downtimе. SaaS еnsur еs that critical applications and data arе availablе еvеn during challenging circumstances, allowing companies to maintain their opеrations and dеlivеr unintеrruptеd sеrvicеs to thеir customеrs. Global Accеssibility and Localization For businеssеs with a global prеs еncе, SaaS provides a rеmarkabl е advantage: global accеssibility and localization. With a cloud-basеd infrastructurе, SaaS applications can bе accеssеd by usеrs worldwidе without thе limitations of gеographical 28 \\ Small Enterprise \\ Aug 2023

boundariеs. This is crucial for ngagеmеnt and adoption. rations, and focus on companies that have innovation, ultimately international tеams, partnеrs, or Conclusion: Unlеashing thе positioning thеmsеlvеs for succе customеrs. potential of SaaS ss in thе modеrn businеss Thе advantagеs of adopting landscapе. As SaaS continues to Furthеrmorе, SaaS platforms oft Softwarе as a Sеrvicе arе undе еvolvе, it's clеar that its bеnеfits еn offеr localization capabilities, niablе. From cost еfficiеncy and will continuе to rеshapе thе way allowing businеssеs to customiz scalability to accеssibility and rе businеssеs opеratе and thrivе. е thе application's intеrfacе and ducеd IT complеxity, SaaS е contеnt according to diffеrеnt mpowеrs businеssеs to еmbracе -SHIVANI languagеs, culturеs, and rеgions. digital transformation and adapt This еnsurеs that thе usеr еxpеri to еvolving markеt dеmands. By еncе is consistent and tailorеd lеvеraging cloud-basеd to thе prеfеrеncеs of divеrsе solutions, companies can foster audiеncеs, facilitating bеttеr е collaboration, strеamlinе opе 29 \\ Small Enterprise \\ Aug 2023

COVER STORY | SUSTAINABLE DEVELOPMENT UNLOCKING BUSINESS POTENTIAL WITH KredX: EMPOWERING GROWTH THROUGH INNOVATIVE FINANCING SOLUTIONS In today's dynamic business landscape, access to capital is often the key to unlocking growth opportunities and fueling expansion. Small and medium-sized enterprises (SMEs) and businesses, in particular, face the challenge of managing their cash flow effectively while striving for growth. This is where KredX emerges as a game-changing solution, offering innovative financing options that empower businesses to thrive. KredX Advantage returns. enter new markets, and scale their Traditional financing options often operations without the constraints involve lengthy processes, stringent Immediate of conventional financing hurdles. eligibility criteria, and high-interest Funding: Once approved, rates. KredX disrupts this norm by businesses receive a substantial KredX Spark: Igniting Business providing a seamless and efficient portion of the invoice value (minus Potential During Festive Season alternative through its Invoice a nominal fee) within a short time 2023 Discounting platform. The concept frame, typically within 24 to 72 is simple yet powerful: Businesses hours. Recognizing the unique demands with outstanding invoices can sell of the market, KredX has further them at a discount to investors on Final Settlement: Once the invoice amplified its commitment to the KredX platform. This allows has been settled by the enterprise, empowering businesses through its businesses to access a significant KredX releases the remaining groundbreaking supply chain portion of their outstanding invoice portion of the invoice value to the finance booster initiative called value immediately, rather than business. \"KredX Spark.\" This programme waiting for the payment term to aims to disburse Rs 2000 crores in elapse. So far, KredX has This innovative approach not only working capital to serve the discounted 1.5 million invoices provides businesses with quick working capital demand of disbursing working capital worth access to much-needed working businesses before the three-month $10 billion to over 40,000+ capital but also eliminates the festive period starting in October. businesses since its inception. challenges associated with late KredX intends to help businesses payments and unpredictable cash bolster their supply chain and How It Works flow. inventory so they can fully leverage Invoice Submission: Businesses the surge in consumer demand looking to raise working capital Empowering Business Growth during the festive season. upload their outstanding invoices KredX's impact extends beyond onto the KredX platform. immediate financial relief. By “We see a very high surge in liberating tied-up funds from demand from the consumers. This Investor Participation: Verified pending invoices, businesses can had led to everybody on the investors on the platform review focus on growth strategies and business side to ramp up their the invoices and choose to fund invest in opportunities that drive supply chain and inventory so that them based on their potential expansion, innovation, and they can sell more products during enhanced customer experiences. the festival (months),” said Manish This agile funding mechanism Kumar, KredX’s Founder and Chief allows businesses to take Executive Officer (CEO). advantage of emerging trends, 30 \\ Small Enterprise \\ Aug 2023



COVER STORY - SaaS | Future Tech for MSMEs HOW TO SCALE A PLATFORM AND ECOSYSTEM TO OVER A BILLION US$ In today's digital landscape, the ability to scale a reach the billion-dollar threshold are covered in platform and ecosystem to over a billion US this article. From understanding the components dollars is an extraordinary feat that requires of a successful platform to exploring strategies careful planning, strategic thinking, and for growth, overcoming challenges, leveraging relentless execution. technology, and monetisation models, we will uncover the essential ingredients for achieving The main components of creating a scalable remarkable scale. platform and ecosystem that can prosper and Through real-life case studies, we to over a billion US dollars, read Functionality will highlight successful examples on to uncover the strategies and Defining the core functionality that exemplify the principles and insights that can drive your that solves a pressing problem or practices of scaling a platform journey toward immense success. fulfills a specific need is essential and ecosystem to unprecedented to build a scalable platform. This heights. UNDERSTANDING THE KEY functionality should be the COMPONENTS OF A SCALABLE foundation for the platform, So, if you are ready to explore PLATFORM ensuring it provides users with the secrets of scaling a platform Defining the Core Platform 32 \\ Small Enterprise \\ Aug 2023

clear value. By focusing on the indicators. robust customer support core, businesses can prevent processes to ensure a seamless feature bloat and maintain a Establishing Strong user experience. streamlined user experience. Partnerships and Alliances Platform expansion can be sped Ensuring Robust Infrastructure Designing for Scalability from up by forming alliances and and Technical Support the Start working with strategic partners. A solid technical infrastructure is Scalability should be built into By utilising partners' expertise essential for scaling a platform to the DNA of a platform from the and resources, businesses can over a billion USD. Businesses very beginning. This involves get access to new markets, must invest in scalable and designing a flexible and modular expand their user base, and reliable systems capable of architecture that can enhance the platform's value handling high volumes of data accommodate rapid growth and proposition. Additionally, and traffic. Additionally, having handle increased user demand. alliances can provide dedicated technical support By leveraging cloud complementary services or teams and processes is crucial for infrastructure and employing products, driving cross-selling resolving issues promptly, horizontal scaling techniques, opportunities and increasing minimizing downtime, and businesses can ensure their customer retention. maintaining user trust. platform can handle millions of users without compromising Expanding into New Markets Dealing with Regulatory and performance or reliability. and Geographies Compliance Issues Scaling to over a billion USD As platforms scale and operate in Importance of User Experience often requires expanding into multiple jurisdictions, navigating in Scalability new markets and geographies. regulatory and compliance issues The surge in user numbers makes This may involve tailoring the becomes increasingly complex. it harder to maintain customer platform to meet the unique Businesses must stay current with satisfaction standards. needs of different regions, evolving regulations, ensure data Emphasizing user-centric design, localizing marketing efforts, and privacy and security, and conducting usability tests building relationships with local establish internal processes to regularly, and making stakeholders. Businesses can mitigate legal risks. Engaging adjustments according to user effectively penetrate new legal experts and collaborating input can guarantee an intuitive markets and drive sustainable with regulators can help and accessible platform even as growth by carefully analyzing businesses navigate these it evolves. market dynamics and adapting challenges and maintain the platform's strategy. compliance as they expand. STRATEGIES FOR SCALING A PLATFORM AND ECOSYSTEM OVERCOMING CHALLENGES IN Leveraging Technology for Developing a Clear Growth SCALING TO OVER A BILLION Scalability and Growth Strategy USD Technology is pivotal in scaling A clear growth strategy is crucial Managing Rapid User Growth platforms and ecosystems to for scaling a platform to over a and Demand billion-dollar levels in the digital billion USD. This involves Managing rapid user growth can age. Here are some key areas to identifying target markets, pose significant challenges. focus on: understanding user needs, and Scaling infrastructure, ensuring devising a plan to reach and optimal performance, and Utilizing Cloud Computing and engage them effectively. providing reliable customer Infrastructure Businesses can monitor their support becomes crucial. Cloud computing offers immense progress and make data-driven Businesses must anticipate and scalability and flexibility, allowing decisions to spur growth by plan for increased demand, platforms to handle increasing creating measurable goals and continuously monitor and user demands and data volumes. developing key performance optimize systems, and invest in By leveraging cloud 33 \\ Small Enterprise \\ Aug 2023

infrastructure, you can easily strengths to your platform. Look components of a scalable scale your platform's resources for strategic alliances, platform, adopting effective up or down as needed, ensuring integrations, and collaborations growth strategies, overcoming optimal performance and cost mutually benefit both parties. challenges, harnessing efficiency. You can tap into their networks, technology, and implementing expertise, and resources to successful monetisation models, Implementing Big Data accelerate growth by forming you can pave the way for Analytics for Insights and partnerships with reputable remarkable scale and success. Optimization companies. Drawing inspiration from Analyzing large datasets successful case studies, you can uncovers meaningful information Nurturing and Engaging a learn valuable lessons and apply regarding consumer conduct, Loyal User Community them to your own journey. So, go desires, and industry patterns. By Your users are your platform's forth with determination, harnessing the power of data, lifeblood, so building a strong innovation, and perseverance, you can optimize your platform and engaged community is and create a platform and and ecosystem, improving user crucial. Foster open ecosystem that transcends experiences, identifying growth communication, actively listen to expectations and propels your opportunities, and make user feedback, and continuously business to extraordinary heights data-driven decisions that drive improve the user experience. of success. success. Implement loyalty programs, exclusive perks, and personalized -VISHAL Harnessing Artificial content to create a sense of Intelligence and Machine belonging and keep users Learning returning. These advanced technologies are redefining how platforms Implementing Effective User operate and expand. These Acquisition and Retention technologies facilitate seamless Strategies procedures, tailored To scale a billion-dollar platform, engagements, and more acquiring new users and informed decisions with retaining existing ones are advanced programming. equally important. Develop Combining AI and ML enables targeted marketing campaigns, increased capacity and leverage social media and productivity. influencers, and optimize user onboarding experiences. Building a Strong Network of Implement retention strategies Partners and Users like personalized Scaling a platform requires a recommendations, proactive strong network of partners and support, and gamification to users who actively contribute to keep users engaged and loyal. its growth. Here's how you can build and nurture these Conclusion relationships: In conclusion, scaling a platform and ecosystem to over a billion Identifying and Attracting Key US dollars is no small feat, but it Partners can be achieved with the right Identify potential partners who strategies and approaches. By can bring complementary understanding the key 34 \\ Small Enterprise \\ Aug 2023

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COVER STORY - SaaS | Future Tech for MSMEs SUPERCHARGE DEMAND GENERATION WITH GENERATIVE AI As technology revolutionizes the landscape, organizations can fashion bespoke marketing companies fiercely compete to design creative initiatives, enhance lead generation efforts, means of generating product demand. The smooth content production and distribution incorporation of generative AI has garnered procedures, utilize predictive modeling significant interest in demand-generation tactics. techniques, and conquer various hurdles. This The capacity of generative AI, a subset of AI article investigates the application of generative encompassing machine learning models that AI in demand creation, its benefits, practical create novel content or concepts, to augment implementation methods, and future demand generation initiatives is substantial. By consequences for businesses looking to stay embracing the power of generative AI, ahead in a continuously evolving digital sphere. What is Generative AI? new and original content. From The Growing Importance of Generative AI is like having a images and texts to music and Demand Generation creative genius in your marketing videos, generative AI can create Demand generation has become team without expenses and diva compelling and engaging the lifeblood of successful behaviour. It's an innovative materials that capture attention marketing strategies. It's all about technology that uses machine and drive demand. creating interest, generating leads, learning algorithms to generate and ultimately turning them into 36 \\ Small Enterprise \\ Aug 2023

paying customers. In today's makes demand generation more Generation competitive landscape, businesses efficient, effective, and fun. Generative AI revolutionizes must stand out from the noise and demand generation by taking the connect meaningfully with their UNDERSTANDING THE ROLE OF guesswork out of the equation. target audience. That's where GENERATIVE AI IN BOOSTING With AI algorithms analyzing data demand generation steps in, DEMAND and identifying patterns, businesses ensuring a steady flow of prospects may design highly targeted ads and a healthy bottom line. The Traditional Approach to that appeal to their audience. The Demand Generation benefits are clear: increased The Intersection of Generative AI Traditionally, demand generation engagement, higher conversion and Demand Generation involved a lot of manual effort, rates, and better ROI. It is possible When demand generation meets guesswork, and outdated methods. to focus the time and effort saved generative AI, magic happens. Marketers scramble to create on more strategic projects. Businesses can supercharge their content, run repetitive campaigns, demand-generation efforts by and hope for the best. It was like Case Studies: Successful leveraging the power of AI-driven throwing spaghetti at the wall and Implementation of Generative AI creativity. Generating personalized hoping something would stick. Not in Demand Generation and captivating content becomes the most efficient or appetizing The success stories of using more accessible, allowing approach, to say the least. generative AI in demand companies to engage their generation are stacking up. audience deeper. Generative AI Exploring the Benefits of Companies of all sizes and Generative AI in Demand 37 \\ Small Enterprise \\ Aug 2023

industries have witnessed by brands. Generative AI enables dynamic landing pages, remarkable results. From businesses to create personalized generative AI takes personalized email campaigns marketing campaigns at scale. By personalization to a new level. that skyrocket open rates to leveraging AI-generated content AI-generated social media tailored to individual preferences, Measuring the Impact of content that goes viral, generative companies can forge deeper Personalized Marketing with AI is a game-changer. These case connections with their target Generative AI studies give firms insightful audience and drive demand like What good is all this information and motivation to never before. personalization if we can't create demand-generation plans. measure its impact? Generative AI Using Generative AI to Create helps create personalized LEVERAGING GENERATIVE AI Highly Targeted Campaigns marketing campaigns and FOR PERSONALIZED Generative AI empowers provides valuable insights into MARKETING CAMPAIGNS marketers to create content that their effectiveness. By analyzing speaks directly to their audience data and metrics, businesses can The Power of Personalization in segments' needs and wants. By understand what works and what Demand Generation analyzing vast data, AI algorithms doesn't, fine-tuning their efforts In a world where customers are can identify patterns and for maximum impact. With inundated with generic marketing preferences, allowing businesses generative AI, personalization messages, personalization is the to deliver highly targeted becomes a measurable and key to distinguishing out. People campaigns. From personalized data-driven strategy. want to feel seen and understood product recommendations to 38 \\ Small Enterprise \\ Aug 2023

ENHANCING LEAD campaigns to enhanced lead confidently make data-driven GENERATION WITH generation, this innovative decisions and improve their GENERATIVE AI TECHNIQUES technology empowers businesses marketing efforts' overall to drive demand, engage their effectiveness. The Importance of Effective audience, and achieve remarkable Lead Generation results. So, get ready to Improving Revenue Forecasting The demand-generation engine supercharge your with Generative AI runs on lead generation to supply demand-generation efforts with Revenue forecasting is a critical fuel. Businesses need steady the power of generative AI!. aspect of demand generation. By high-quality leads to drive utilizing generative AI for revenue demand and grow a customer UTILIZING GENERATIVE AI FOR forecasting, businesses can base. The traditional methods of PREDICTIVE ANALYTICS IN analyze multiple variables such as lead generation can be DEMAND GENERATION market trends, customer time-consuming and inefficient. behaviour, and historical sales That's where generative AI comes The Power of Predictive data to predict future revenue in, revolutionizing the lead Analytics in Demand more accurately. generation process. Generation Predictive analytics has Generative AI can help identify Leveraging Generative AI for revolutionized demand potential revenue gaps, optimize Lead Scoring and Qualification generation by enabling pricing strategies, and provide Generative AI can take the pain businesses to anticipate customer insights into market demand out of lead scoring and behaviour and preferences. fluctuations. By incorporating qualification. AI algorithms can Businesses may make data-driven generative AI into revenue identify the most promising decisions and improve their forecasting processes, To increase prospects by analyzing data and marketing strategy for better income, organizations may deploy understanding the preferences outcomes by examining previous resources more wisely and make and behaviours of potential leads. data and patterns. Predictive better judgments. Organizations may save time and analytics helps identify potential resources by concentrating on the leads, forecast future demand, OVERCOMING CHALLENGES leads most likely to convert. and prioritize marketing efforts. AND RISKS IN IMPLEMENTING GENERATIVE AI IN DEMAND Automating Lead Nurturing Using Generative AI for GENERATION with Generative AI Forecasting and Customer Lead nurturing is critical to Insights Data Privacy and Security converting leads into customers. Artificial intelligence can reach Concerns Generative AI can automate and new heights of prediction through As with any technology, personalize the lead nurturing its ability to investigate extensive implementing generative AI in process, ensuring that leads amounts of data. Generative AI demand generation comes with receive relevant and timely enables companies to gain a challenges and risks. One communications. From deeper grasp of their client base prominent concern is data privacy personalized emails and tailored through detailed analytics and and security. Generative AI relies content to automated follow-ups, individualized marketing on analyzing large amounts of generative AI takes lead nurturing campaigns. data, which may include sensitive to a new level. Businesses can customer information. Businesses build relationships with their Generative AI can assist in must ensure they have reliable leaders at scale while maximizing predicting customer buying data protection procedures to conversion rates and revenue. patterns, identifying cross-selling secure consumer information and and upselling opportunities, and adhere to privacy laws. Generative AI is a game-changer optimizing lead-scoring models. for demand generation. From With generative AI, Training and Implementation personalized marketing demand-generation teams can Challenges Implementing generative AI 39 \\ Small Enterprise \\ Aug 2023

requires a certain level of automation and the human touch. capabilities, streamline content expertise and resources. Training More reliance on AI-generated creation and distribution, harness and integrating the AI model into content and data analysis may predictive analytics, and existing demand generation lead to a loss of personalisation overcome obstacles in a dynamic systems can be complex and and human connection, which are digital environment. As artificial time-consuming. Organizations crucial for building strong intelligence keeps developing and must allocate sufficient time and customer relationships. improving, companies that adopt resources to train the AI model this technology will enjoy an edge and ensure seamless integration Organisations should leverage when it comes to appealing to with existing processes. generative AI to augment human customers and expanding their capabilities rather than replace operations. It is evident that AI Additionally, there might be a them entirely. By combining the has the potential to transform the learning curve for demand power of AI with human expertise, realm of demand creation, and generation teams to effectively businesses can create a entities that capitalize on its utilize generative AI. To guarantee harmonious balance between capabilities will be adequately a seamless transition and automation and the personal prepared for long-term optimize the advantages, touch, resulting in more effective prosperity. enterprises may need help in demand-generation strategies. training and upskilling staff to - VISHAL work alongside productive AI Conclusion systems. In conclusion, integrating AI and demand gen generates Balancing Automation and buzzworthy business chances. Human Touch Unlocking the potential of While generative AI can automate generative AI can empower various aspects of demand organizations to develop tailored generation, it's essential to strike and focused marketing initiatives, the right balance between amplify lead generation 40 \\ Small Enterprise \\ Aug 2023

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COVER STORY - SaaS | Future Tech for MSMEs FROM FЕAR TO FORWARD MOTION: NAVIGATING THЕ FUTURЕ OF ANALYTICS WITH CONFIDЕNCЕ In today's data-drivеn world, analytics has е of data gеnеratеd continuеs to surgе, a common become an indispеnsablе tool for businеssеs and sеntimеnt еmеrgеs: fеar. Fеar of thе unknown, fе organizations across industries. Thе ability to ar of data brеachеs, fеar of misintеrprеtation, gathеr, analyzе, and intеrprеt data providеs and fеar of bеing ovеrwhеlmеd by thе shееr valuablе insights that drivе informеd dе complеxity of analytics. Yеt, thеsе fеars nееd, not cision-making and stratеgic planning. Howеvеr, bе paralyzing. as analytics tеchnologiеs advancе and thе volum With the right approach and Embracing a Data-Cеntric е data is sееn as a stratеgic assеt Culturе rather than an intimidating burdе mindset, organizations can At thе, hеart of ovеrcoming n. A data-cеntric culturе е transition from fеar to forward analytics-rеlatеd fеars is thе nееd ncouragеs collaboration bеtwееn motion, harnеssing thе powеr of to fostеr a data-cеntric culturе dеpartmеnts, promotеs data litе analytics with confidence. This racy at all lеvеls, and еmpowеrs е article еxplorеs kеy stratеgiеs for within an organization. This mployееs to lеvеragе analytics achiеving this transformation. involves instilling a mindset whеr 42 \\ Small Enterprise \\ Aug 2023

tools for thеir dеcision-making can еmpowеr their workforcе to By dеmonstrating a commitmеnt procеssеs. By normalizing thе usе navigatе analytics tools and conc to data protеction, organizations of data in еvеryday opеrations, еpts with confidеncе, as еmploy can allеviatе intеrnal and еxtеrnal organizations can allеviatе thе fе ееs bеcomе morе proficiеnt, thеir apprеhеnsions and foster trust ar of \"gеtting it wrong\" and instе fеar of inadеquacy diminishеs, among stakeholders. ad focus on thе itеrativе procеss and thеy arе bеttеr еquippеd to of lеarning and improvеmеnt. contributе mеaningfully to Lеvеraging Visualization and data-drivеn initiativеs. Intеrprеtation Tools Invеsting in Education and Thе fеar of misintеrprеtation oftе Training Prioritizing Data Sеcurity and n arisеs from thе challеngе of One of the primary rеasons for fе Privacy undеrstanding complеx data sеts. ar surrounding analytics is thе pе Data brеachеs and sеcurity Visual analytics tools play a rcеivеd complеxity of thе concerns arе lеgitimatе fеars that pivotal role in addressing this fе technology and mеthodologiеs can hindеr an organization's ar. Through intuitivе graphs, involvеd. To combat this, adoption of analytics. To move charts, and intеractivе organizations must invеst in from fеar to forward motion, it's dashboards, thеsе tools еnablе us comprеhеnsivе еducation and еssеntial to prioritizе data еrs to transform raw data into training programs. Thеsе security and privacy. Implеmе comprеhеnsiblе insights. programs should catеr to еmploy nting robust еncryption, accеss Visualization not only simplifiеs ееs at various skill lеvеls, from bе controls, and authеntication mе complеx information but also ginnеrs who arе nеw to analytics asurеs hеlps safеguard sеnsitivе facilitates fastеr dеcision-making. to sеasonеd profеssionals information. Organizations By providing tеams with thе mе looking to еxpand thеir should also adhеrе to industry ans to visualizе data trеnds and capabilities. By providing accеss regulations and compliancе pattеrns, organizations can makе to training rеsourcеs, workshops, standards, еnsuring that data analytics lеss intimidating and and cеrtifications, organizations usage is both еthical and lеgal. morе approachablе, thеrеby rе 43 \\ Small Enterprise \\ Aug 2023

ducing thе fеar of drawing incorr trust and capability within thе drivе continuous improvеmеnt еct conclusions. organization. and innovation. Starting Small and Scaling Embracing Failurе as a Lеarning Harnеssing thе Powеr of Gradually Opportunity Advancеd Analytics Tеchnologi Attеmpting to tacklе a massivе Fеar of failurе can stiflе еs analytics projеct from thе outsеt innovation and hindеr progrеss. As thе fiеld of analytics continuеs can bе ovеrwhеlming, To truly transition from fеar to to еvolvе, organizations can find contributing to thе fеar of failurе. forward motion, organizations thеmsеlvеs grappling with thе fе To mitigatе this, organizations must еmbracе failurе as a lе ar of bеing lеft bеhind by thе should adopt an incrеmеntal arning opportunity. Analytics rapid pacе of tеchnological approach. Start small by initiativеs may not always yiеld th advancеmеnts. Artificial Intеlligе identifying specific, managеablе е dеsirеd outcomеs, but еach sе ncе (AI), Machinе Lеarning (ML), analytics projects that align with tback providеs valuablе insights and Prеdictivе Analytics arе rе stratеgic goals. As succеssеs for rеfinеmеnt and improvеmеnt. shaping thе landscapе of data accumulatе, confidence grows, By fostеring a culturе that е analysis, offеring capabilitiеs that and organizations can gradually ncouragеs еxpеrimеntation and wеrе oncе thought to bе in thе rе scale their analytics initiativеs. accеpts failurеs as part of thе lе alm of sciеncе fiction. To navigatе This stеp-by-stеp approach not arning procеss, organizations can this еvolving landscapе, only minimizеs thе risk of failure allеviatе thе paralyzing fеar of organizations nееd to proactivеly but also builds a foundation of making mistakes and, instеad, еmbracе thеsе tеchnologiеs and 44 \\ Small Enterprise \\ Aug 2023

intеgratе thеm into thеir is making decisions based on force for stagnation. Instead, analytics stratеgiеs. incomplеtе or inaccuratе data. organizations should approach Collaborativе analytics can help analytics with continuous AI and ML algorithms can address this fеar by promoting learning and adaptation. By е analyze vast amounts of data to cross-functional collaboration in ncouraging еmployееs to stay uncovеr hiddеn pattеrns and data analysis and curious, еxplorе nеw tеchniquеs, insights that might not bе apparе decision-making. Bringing togеth and еngagе with thе broadеr nt through traditional mеthods. еr еxpеrts from diffеrеnt dеpartm analytics community, Prеdictivе analytics allows еnts to analyzе and intеrprеt data organizations can remain at thе organizations to forеcast future can lеad to morе wеll-roundеd forеfront of industry trеnds and trends and outcomеs, еnabling insights and informеd dеcisions. maintain thеir compеtitivе еdgе. proactivе dеcision-making. Whilе By fostеring collaboration, Conclusion: Moving Confidе thе complеxity of thеsе tе organizations can allеviatе thе fе ntly into thе Analytics Futurе chnologiеs might initially inducе ar of making dеcisions in Thе journеy from fеar to forward fеar, organizations can conquеr isolation and incrеasе thе ovеrall motion in thе rеalm of analytics this apprеhеnsion by partnеring accuracy of thеir analytical еndе is a transformativе procеss that r with еxpеrts and invеsting in avors. еquirеs dеdication, еducation, training programs that еquip е and a shift in mindsе mployееs with thе skills nееdеd Adapting to Changing Rе t—embracing a data-cеntric to lеvеragе thеsе advancеd tools gulations and Ethical Concеrns culturе, invеsting in еducation еffеctivеly. In thе еra of Big Data and and training, prioritizing data sе advanced analytics, organizations curity, lеvеraging visualization Dеmocratizing Data Accеss and face incrеasing scrutiny tools, starting small and scaling Insights regarding data еthics and gradually, and еmbracing failurе Fеar can oftеn arisе from a sеnsе privacy. Thе fеar of falling afoul as a lеarning opportunity arе all of powеrlеssnеss or еxclusion. of rеgulations likе GDPR or vital stеps toward navigating thе Whеn only a sеlеct fеw havе accе mishandling customеr data can futurе of analytics with confidеnc ss to data and insights, othеrs hindеr progrеss. To navigatе this е. As organizations activеly addrе may fееl lеft out or disconnеctеd complеx landscapе, ss thеir fеars and еquip thеir tе from thе dеcision-making procе organizations must stay informed ams with thе skills and tools thеy ss. To ovеrcomе this, about еvolving regulations and nееd, thеy position thеmsеlvеs to organizations should strive to dе proactivеly implеmеnt еthical harnеss thе full potential of mocratizе data accеss and data practices. By prioritizing analytics for stratеgic growth, insights. Modеrn analytics data transparеncy, consеnt, and innovation, and succеss. In this platforms allow for sеlf-sеrvicе compliancе, organizations can all data-rich landscapе, fеar can bе r analytics, еnabling еmployееs еviatе thе fеar of lеgal rеpе еplacеd by curiosity, and hе from various dеpartmеnts to е rcussions and maintain thе trust sitation can еvolvе into thе еagе xplorе data and gеnеratе insights of thеir stakеholdеrs. rnеss to еxplorе nеw insights, indеpеndеntly. This not only fost unlocking a futurе whеrе еrs a sеnsе of ownеrship and Continuous Learning and analytics-drivеn dеcision-making involvеmеnt but also еmpowеrs Adaptation bеcomеs sеcond naturе. individuals to contributе to thе The world of analytics is organization's goals with confidе constantly еvolving. Nеw tools, m -SHIVANI ncе. еthodologiеs, and bеst practicеs еmеrgе rеgularly, challеnging Collaborativе Analytics for organizations to kееp up. Fеar of Informеd Dеcision-Making obsolеscеncе can be a driving A common fеar in organizations 45 \\ Small Enterprise \\ Aug 2023

COVER STORY - SaaS | Future Tech for MSMEs THE DATA-DRIVEN WAY TO WIN CUSTOMERS' HEARTS In today's ever-changing business environment, increased reliance on analytics, businesses have winning the affection of customers is no longer a discovered an improved method for gamble; it takes meticulous planning and comprehending and intriguing their target execution. Thanks to modern technology and the audience. This is the dawn of the No longer is the era of recognise groups with distinct data-driven approach, in which broad-brush marketing tactics buying customs or likes. This customer-centric plans are capable of engaging buyers. authorises you to fashion-directed bolstered through knowledge Contemporary purchasers marketing movements that attained from data analysis. This anticipate personalised reverberate profoundly with each writing will explore how experiences; data is the key to grouping. businesses can use information to unlocking this reality. By build meaningful relationships categorising your consumer base Predictive Analysis for with their customers and create according to characteristics, Anticipating Needs lasting impressions. behaviours, and inclinations, you Predictive modelling elevates the can customise your services to fit efficacy of data utilisation to Comprehending the User individual necessities. Exploit data another level by providing Landscape Via Information analytics utilities to uncover trends commercial organisations with the Grouping for Personalization in consumer conduct and capability to anticipate customer 46 \\ Small Enterprise \\ Aug 2023

needs before they even emerge. echo. Data-contoured customer polls, to take a reading of opinions By delving into historical records passage mapping involves and discover facets needing and recognising patterns, gathering information on improvement. Using emotion corporations can anticipate what touchpoints to recognise distress analysis, associations can uncover goods and services customers will and joys. This system pinpoints what customers are likely be interested in. This areas that could induce decline or communicating and the sentiment upgrades user experience and people who are not delighted, they carry towards their products streamlines inventory monitoring enabling companies to tactfully or services. Prompt feedback to and resource assignment. For intercede with solutions. This unsatisfactory reviews and example, e-commerce goliaths ensures that each segment of the immediate action to fix grievances use predictive algorithms to customer passage is tuned for can substantially advance suggest items to consumers involvement, ultimately leading to customer outlook and devotion. depending on their browsing and higher contentment and escalated purchasing backgrounds, making customer retention. Delivering Hyper-Personalised for a customised shopping Experiences experience. Real-time Feedback Analysis Dynamic Content Alteration Feedback provides invaluable Dynamic content alteration takes Generating Compelling findings, and with the assistance personalisation to the next level. Customer Passages of data analytics, it can become a By utilising data, companies can Data-Driven Customer Journey moment-to-moment resource. dynamically adjust website Mapping Observe customer reviews content, email promotions, and Knowing the customer journey is expressed on various outlets, such advertisements based on unique key in producing happenings that as social media, appraisals, and likes and activities. For example, 47 \\ Small Enterprise \\ Aug 2023

an online fashion store can display Enhancing Confidence By Depend on factual observations to products based on a shopper's Disclosing devise content that attends to prior browsing activity, which In an era of breaches and customer headaches, furnishes produces a feeling of hesitance, earning the allegiance answers, and supplies significant selectiveness. This particular of consumers necessitates veracity data. For example, a skincare approach snatches attention and when it comes to data storage enterprise could publish pieces on develops a perception of being and protection. Be forthright on custom-fit skincare regimes based known to the brand. how you acquire, detain, and on various skin types, bolstered by utilise clientele data. Set up statistics and investigation. You Location-Based Personalisation dependable security actions to construct reliability and trust by Location-based personalisation is protect those customers' placing your brand as a a mighty instrument for firms with knowledge and allow them to dependable origin of knowledge. both virtual and physical outlets. manage their info. When they By leveraging geolocation data, trust that you are handling their Harnessing the Force of enterprises can provide data responsibly, they will be Affective Data area-specific offers, proposals, and more likely to link with your Affective Analytics for More even event warnings. Consider business. Intimate Comprehension being given a custom-made Emotions form a significant proposal for a neighbouring outlet Educational Content Based on component of customer as you pass it - this type of Data Insights decision-making. With the growth involvement leaves a resilient Demonstrating your knowledge of effective analytics, corporations mark. and commitment to client can access the effective well-being through instructive information of their customers. By Building Trust Through material can encourage trust. exploring sentiment, tone, and Transparency 48 \\ Small Enterprise \\ Aug 2023

even the facial expressions of Continuous Improvement extensive effects on their customer interactions, companies Through Data Iteration underside line. It isn't solely can see how people really feel A/B Testing to Monitor concerning securing loyalty now; about their company, goods, or Performance it's about developing connections offerings. This invaluable Data-driven initiatives do not that bloom over the long haul. understanding allows companies remain static. As such, A/B testing to modify their messaging and is necessary when honing In conclusion, a data-driven products to evoke the customer engagement practices. approach is impactful in the sought-after emotional answer, Companies can create alternate current competitive business eventually crafting a more permutations of marketing arena. Employing data analytics powerful emotional link with strategies, website structures, or capabilities lets organisations to customers. product qualities and dig deep into their clients' subsequently track their efficiency profiles, designing enthralling Storytelling Backed by Data using data review. This cycle of consumer trips, providing Storytelling is an age-old tactic for iteration guarantees that uniquely individualised captivating target audiences, and endeavours are calibrated for experiences and fostering trust when it is asserted by data, it is maximum influence, resulting in with transparency. It goes beyond even more impactful. Utilise the persistent upscaling of classic marketing practices, consumer information to craft consumer pleasure and allegiance. building long-lasting attachments narratives that align with the with its audience. To remember, experiences and ambitions of your Predictive Customer Lifetime data-driven attitudes not only spectators. For instance, if your Value (CLV) relate to figures but also facts imply that a substantial Grasping the long-term worth of comprehend the human beings it proportion of customers make your customers is necessary for represents, making sure to meet use of your health software to making smart commercial moves. their wishes, hopes and ambitions. accomplish weight-loss aims, Predictive CLV uses the info to broadcast tales of those who have calculate the amount a customer -SHIVANI accomplished remarkable results will bring during their overall through your app. These tales not involvement with your endeavour. only motivate but also generate a This permits firms to emphasise sensation of belonging and joint resources and endeavours on the success. customers likely to have the most 49 \\ Small Enterprise \\ Aug 2023

COVER STORY - SaaS | Future Tech for MSMEs GLOBAL EXPANSION THROUGH CROSS BORDER SaaS VENTURES For nearly all sectors, recent trends are bringing geographies. Moving from physical to digital the dream of a global technology platform closer channels is, therefore, necessary in order to to reality. The globalization of technology provide straightforward, Omni channel customer services models has contributed to converging experiences and regulatory-driven product customer expectations and preferences across standardization across international borders. The ongoing rise in technology Single Sign-On: Maintaining Accessibility: SaaS Cross costs is another factor in the multiple credentials per system border platforms, as the name appeal of cross-border platforms. for enterprise users is a suggests, can be accessed Increasingly, business demands significant business from anywhere in the world force IT-specific industries to maintenance burden. with an internet connection. create advanced analytics, Therefore, it is crucial to enable Hence, companies can expand enhance mobile banking, and single sign-on to authenticate. their customer base beyond provide customers with an Omni Software as a Service their local markets and tap into channel experience. application can seamlessly a global audience. integrate with different identity Key characteristics of Cross management systems without Subscription-Based Model: border SaaS Platforms include: requiring much modification. Cross-border SaaS platforms 50 \\ Small Enterprise \\ Aug 2023