Saas

Indian SaaS sector likely to reach a market size of $50 billion by 2030

Amongst the surveyed organisations, 99 per cent of firms in India said that they plan to increase their cyber budgets, with half of them anticipating a 6-15 per cent rise

Unicommerce records 16% growth in order volume during mid-year online sales

IPO-bound SaaS platform Unicommerce has recorded a 16 per cent jump in order volumes during mid-year online sales on a year-on-year basis, the company said on Monday. The company said that volume growth was accompanied by an upward trend in gross merchandise value, which grew 19 per cent year-on-year in 2024, over 2023. "Analysis of orders processed through the Unicommerce platform shows that customers cashed in on the mid-year sales offers extended by multiple marketplaces with 16 per cent order volume growth during the week-long sale period between 19th - 25th of July 2024. "This volume growth is in comparison to the 2023 mid-year sales that took place between July 14- 20 last year," Unicommerce said. Unicommerce provides software-as-a-service (SaaS) platform for end-to-end management of e-commerce operations for direct-to-consumer (D2C) brands, brand aggregators, traditionally offline brands, marketplaces, logistics players, and small and medium-sized businesses (SMBs) through a

SaaS major Zoho Corporation announces an updated 'CRM For Everyone'

Currently in a beta phase, Zoho plans a full roll out by the end of 2024

Tech firm AiDash announces launch of first ESOP buyback programme

Enterprise SaaS firm has more than 300 employees in India

Cilio expects to double global business in 18 months with India foray

US-based SaaS firm Cilio Technologies expects to double its global business in the next 12-18 months with its foray into India which will also serve as its hub for operations in the Middle East and Southeast Asia, a top official of the company said. Cilio President and CEO Rick Olejnik told PTI that to cater to the growth the company will also double its engineering team in India. "If we are able to make the right footprints in India in the next six months, I think it's going to contribute almost more than double what Cilio is doing right now in the next 12 to 18 months. That's the plan. Being very aggressive on it," he said. The company, which focuses on home furnishing segment, entered the Indian market with the acquisition of startup Automation Factory. Olejnik said that home improvement products are coming with improved standardisation and the per capita spent on house improvement has been growing 40 per cent year-on-year in India which is going to drive the company's ...

IPO-bound Unicommerce expanding oversees ops by client acquisitions

IPO-bound SaaS platform Unicommerce is expanding its overseas operations by onboarding more clients, a top official said on Tuesday. Unicommerce is already serving 46 clients in Singapore, the Philippines, Indonesia, the UAE, and Saudi Arabia and is now expanding these operations by adding more clients. Some of its clients in these markets include the UAE-based fashion brand Redtag, the Philippines-based kids' wear brand Edamama and the UAE-based logistics player RSA Global. "After building a solid foundation in the country, international markets are a growth area for us now and we will now be expanding our operation in these overseas markets. "The domestic e-commerce market is ahead of most other markets in the region allowing us to offer future-ready solutions for our overseas clients," Kapil Makhija, managing director & chief executive told PTI Tuesday. Its domestic clientele includes Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, Boat, Portronics, Pharmeasy, GNC, .

After cabs, Rapido extends SaaS-based zero-commission model to auto drivers

This model is different from most of Rapido's competitors like Ola and Uber where the drivers pay a commission per ride

Chennai stands as capital of SaaS in country: Palanivel Thiaga Rajan

Digital Connexion set up its new data centre in the city on Friday aimed at serving the critical infrastructure needs of enterprises and digital service companies. Tamil Nadu Minister of Information Technology and Digital Services Palanivel Thiaga Rajan formally inaugurated the centre along with Digital Connexion CEO CB Velayuthan at an event here. Digital Connexion is promoted by Reliance Industries Ltd, Brookfield and Digital Realty Company. The first phase of the Data Centre -- MAA10 -- located on a sprawling 10-acre campus in Ambattur would offer 20MW of IT load and features a modular infrastructure design enabling customers to scale their infrastructure in response to varied workload demands. "I am delighted to observe Chennai's rapid emergence as a highly sought-after hub for data centers within the Indian landscape. The convergence of entities such as Jio (Reliance Industries Ltd), Digital Realty, and Brookfield at this event is indeed a commendable collaboration," Rajan ...

Sebi introduces SaaS model for clearing corps to boost business continuity

To strengthen the business continuity framework of clearing corporations for handling major software malfunctions, Sebi on Wednesday asked them to establish their critical Risk Management Systems (RMS) using a software-as-a-service (SaaS) model. RMS plays an important role in ensuring smooth and uninterrupted functioning of the securities market by carrying out online real-time risk management of trades happening on stock exchanges. Non-availability of RMS poses a major risk to the continuity of trading on stock exchanges. In the first phase, systems would be designed to provide an additional tool for business continuity in case of issues with RMS of clearing corporations, Sebi said in a circular. "In order to further manage disruptions impacting availability of RMS, it is proposed to have another contingency measure in place under Software as a Service (SaaS) model," Sebi said. The framework in the first phase would operate for existing interoperable segments of CCs -- cash marke

SaaS lets banks monitor data usage, mitigate security risks: Shailesh Singla

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IAMAI seeks to secure its chairman, 50% governing council for Indian firm

By advocating for a 50 per cent reservation for Indian firms on the governing council, IAMAI aims to achieve a balanced representation

Fintech firm Perfios raises $229 mn from Kedaara in Series D funding

Perfios, a B2B SaaS specialist, says investment will help it in 'providing access to financial services'

DeepTech SaaS firms can unlock a CAGR of up to 50%: Nasscom report

The study by industry body Nasscom in collaboration with EY India found that one out of four Indian B2B SaaS companies was focused on new inventions in DeepTech

Softbank-backed Unicommerce records 50% growth in revenue in FY23

Softbank-backed Saas platform Unicommerce has registered a 50 per cent growth in revenue driven by onboarding of new clients and international expansion, a senior company official said. Unicommerce CEO Kapil Makhija told PTI that the company has achieved an annual run rate of processing over 600 million transactions amounting to over USD 7 billion in annual gross merchandise value. He said that the company's growth has been consistent over the past three years and expects it to remain aligned to the expansion of the e-commerce industry in India. "Unicommerce's platform has demonstrated remarkable performance with around 50 per cent revenue growth in the financial year 2023. The number of enterprise clients has grown significantly, with a 45 per cent increase in FY'23 and a 68 per cent growth in FY'22," Makhija said. In its RoC (Registrar of Companies) filing for FY'22, the company reported a 47.5 per cent increase in operating revenue to Rs 59 crore in FY 22. Its profit after tax

Open challenge to OpenAI, Google: Zoho working to build its own AI model

Zoho's announcement to develop its own LLMs comes after OpenAI founder and CEO Sam Altman said that it would be "hopeless" for an Indian startup with $10 million in funding to build foundational LLM

Keytrade Bank selects Infosys Finacle suite for core banking transformation

The bank will subscribe to the Infosys Finacle suite in a software-as-a-service (SaaS) mode on the Microsoft Azure public cloud

SaaS platform Zendesk lays off 8% of workforce due to macroeconomic issues

Each impacted employee will be eligible for three months of base salary/on-target earnings plus one week for each full year of service, job search resources, a prorated portion of annual bonus

'The Great Indian SaaS Story' to explore adoption of SaaS in India's BFSI sector

By Saumya Mishra

Apax Funds to buy stake in travel tech firm IBS Software from Blackstone

To acquire Blackstone's minority stake in the software-as-a-service solutions provider

Saas platform OTPless hires BharatPe's Anubhav Mathur, other key executives

OTPless, the startup founded by Bhavik Koladiya announced the appointment of key executives