Pandemic has changed lot of things in last few years. From school to college, from corporate to industry, change has been observed almost everywhere. The same is applicable for the enterprise software industry which holds a great importance in the IT industry.
From launching market specific products to changing business models, lot is happening in the enterprise software market. We will quickly see what companies are up to in this business:
- Movement from recurring revenue model to subscription model
Personalize content curation and giving recommendation based on user profiles is getting popular these days. Media and Publishing companies have been moving away from traditional recurring revenue model based on consumption and want flexible “pay per use”, “time bound subscription” for the customers.
- Portfolio Expansion and Diversification
With the rise in digital adoption in certain segments like SMEs, rise in cybersecurity risks etc. Many companies are diversifying into such businesses.
Tally solutions, an ERP provider to small businesses have applied for small finance banking license.
TCS have recently launched a SaaS based platform that provides risk remediation software, this software that will help enterprises to mitigate risks
Majesco to build a full value chain solutions for Real Estate or call it “PropTech” with the aim to bring digital transformation in the real estate sector
- Partnerships to take global product to India market
Cloud ERP solutions has seen good demand in recent times. TO leverage the same, Indian Tayana solution is partnering with Acumatica solutions to offer cost effective cloud ERP solutions in India
- Evergreen SaaS
Well, how can we forget this tiger of the enterprise software market. With time the estimation of the SaaS market keeps on rising and expect to reach USD 18-20 billion in revenue by 2020. With an average American company using over 1000 SaaS products, this sector has no stopping in the near future.
- Hiring for Expansion
Global companies are expanding in India and increase their hiring in near future. Cybersecurity Giant like Atos are increasing its manpower in India to increase their capabilities and service offerings.
Slowly and steadily companies are reinvesting themselves in this changing market. Pandemic has not only changed the demand pattern but accordingly the supply pattern has changed and will continue to change.