The Most Innovative SaaS Companies To Watch -2023

SaaS
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Editor’s Note

Customer-Centricity and Technological Brilliance:
The Hallmarks of the Top SaaS Companies of 2023
We are thrilled to present the latest
issue of our magazine, dedicated to
showcasing “The Most Innova ve
SaaS Companies To Watch In 2023”. In an everevolving
digital landscape, where the realm of
technology con nues to shape and redefine
industries, these companies are at the forefront
of revolu onizing how businesses operate and
interact with their customers.
The SaaS industry has experienced
unprecedented growth and transforma on over
the years, and 2023 promises to be an exci ng
me for this sector. As businesses increasingly
recognize the need for agile and scalable
so ware solu ons, these companies are paving
the way for a future where so ware is delivered
as a service, accessible from anywhere and at any
me.
Our editorial team embarked on a me culous
journey to iden fy and showcase the most
innova ve SaaS companies that have made
significant strides in their respec ve fields. We
sought out companies that have demonstrated
not only technological excellence but also a deep
understanding of market needs and a
commitment to customer sa sfac on.
Their groundbreaking solu ons are empowering
businesses of all sizes to streamline opera ons,
enhance produc vity, and unlock new
opportuni es for growth. What sets these
companies apart is their relentless focus on
customer-centricity. They understand that
success lies in providing seamless experiences,
robust security measures, and con nuous
updates to meet evolving market demands.
Through their dedica on to excellence, these
SaaS companies are reshaping industries and
helping businesses achieve their goals with
unprecedented efficiency.
As you navigate through the pages of this
magazine, we hope you are inspired and
informed by the stories of these innova ve SaaS
companies. We encourage you to keep an eye on
these trailblazers as they con nue to push
boundaries, disrupt industries, and shape the
future of technology.
We hope this issue sparks your curiosity and
provides valuable insights into the future of
so ware delivery.
Happy Reading!
Kevin Williams

C o v e r S t o r y
08

C O N T E N T S
20
14
Revolutionizing Convenience
Stores with Game-Changing
SaaS Solutions
16
SaaS Industry
Overview
26
Historic
Developments of
SaaS Industry

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8

Rose
“ The
Software-as-a-Service (SaaS) industry has
revolutionized the way businesses operate,
providing convenient and scalable solutions for a
wide range of needs. Behind the success of any company
lies exceptional leadership. Effective leaders in this
dynamic and fast-paced industry possess unique skills and
qualities that enable them to navigate challenges, inspire
their teams, and drive innovation. Peter Horwood, Founder
of ITIQPro, is one such effective leader.
When Horwood was ten years old, people started saying he
would be an entrepreneur. Recalling the past, Horwood
says, “I didn't think much of it, but along with my father's
excellent advice, I got a business degree (majoring in
business use of IT and information as well as taking even
more courses on marketing) and formed my first full-time
company while in second year University – which allowed
me to directly apply what I was learning to my business.”
Horwood began his journey in corporate solutions in 1980,
where he established a company that achieved an
impressive 75% market share in municipal accounting.
Concurrent with that, he had ventures in GIS development
before GPS technology became widely used. The seasoned
leader also developed a SQL network consisting of
numerous master-master databases across North America,
specifically for pipeline optimization. During the beta phase
of Mosaic, he deployed his initial website and server, which
served as a data source for his customers for the following
decade. This website replaced the bulletin boards that were
previously utilized.
9

The Inspiration Behind ITIQPro's
Establishment
According to Horwood, his inspiration
to start ITIQPro came from observing
the competition at the time and feeling
that he could offer a better product and
better service to address a need—the
fusion of offline mobile and online
base—that was being largely ignored
and, amazingly, is still only given lip
service by other CMMS companies
today. However, he faced many
challenges like every other
entrepreneur; the biggest was Capital.
To overcome this, Capital was
privately funded by him and his
partner, whom he acquired complete
ownership from in 2019. The primary
driving force behind the venture was
the feedback received from their
customers, which played a significant
role in shaping their motivation and
direction.
Under his leadership today, ITIQPro
has a strong presence in the CMMS
SaaS landscape, quietly serving
various industries and organizations,
ranging from small gyms to large
enterprises. Their collaborative
partnerships with dealers such as
Cascadia, Asset Pro Solutions dba
Maintenance Connection Canada, MC
Global, and Accruent have expanded
their reach and reinforced their
position as a trusted CMMS provider.
Empowering Organizations with
Cutting-Edge CMMS SaaS Solutions
Since its establishment in 2003,
ITIQPro has been a pioneer in offering
a wide range of Computerized
Maintenance Management System
(CMMS) SaaS options to a diverse
client base, both online and offline.
ITIQPro specializes in providing
solutions for Asset Management, Work
Order Management, Inspections (both
internal and for clients), Punch Lists,
Purchase Order Management,
Inventory Management, Mapping and
GIS, IT User Management, as well as
sophisticated tools for seamless
integration with other systems and
offline access when internet
connectivity is unavailable.
One distinguishing feature of ITIQPro
is its belief in data ownership, allowing
customers to retain control over their
data without being held hostage by the
SaaS platform. This flexibility extends
to the choice of SaaS or on-site
deployment, with the ability to switch
between them as needed.
10

With an impressive clientele spanning
the globe, ITIQPro serves
organizations that possess assets
crucial to their operational success,
conduct in-house or client inspections,
and require project management
capabilities or snag lists. These
customers encompass major shipping
companies, renowned corporations like
Honeywell and FORTNA, retail giants
such as Home Depot, military
establishments, correctional facilities,
local governments of various sizes,
hospitals, schools at different levels,
and universities. ITIQPro has earned a
well-deserved reputation in the
industry through its commitment to
excellence and innovative solutions.
Break The Mold, Make A Statement
ITIQPro prioritizes understanding the
unique requirements of different
industries and delivering customized
solutions instead of focusing solely on
technology. This approach has been
instrumental in its success, particularly
in the field of CMMS. One of the key
offerings from ITIQPro is its
comprehensive offline/online mobile
solution, which supports a wide range
of devices such as cell phones, tablets,
laptops, and 4K screens. With
optimized and customizable
background sync, its products provide
exceptional user interface (UI)
customization, seamless integration
with Geographic Information Systems
(GIS), and comprehensive IT quality
user management. By combining the
best aspects of SaaS and offline
capabilities, ITIQPro creates solutions
that are universally accessible and
user-friendly across all devices.
What sets ITIQPro apart in the CMMS
industry is the unparalleled flexibility
and customization options its solutions
provide. Clients can tailor the UI based
on company, user class, repair center,
and even individual users. This level of
personalization ensures a smooth and
intuitive experience for all users,
accommodating their specific needs
and preferences. Additionally,
ITIQPro's CMMS solutions
incorporate advanced features such as
preventive maintenance (PM) and
predictive data analysis using
DataHub. This allows seamless data
imports from various sources, enabling
companies to leverage actionable
insights and effectively save and
generate revenue.
Embracing New technologies
ITIQPro has relied on word-of-mouth
and direct sales to promote its products
and services, which has worked well
for the company. However, with the
increasing speed of security risks, it is
essential to adapt quickly, and SaaS
can provide a fast and safe solution for
customers if designed and run
correctly. Since upgrades can happen
quickly with SaaS, and relying on
outdated software is becoming too
risky.
Horwood explains, “A SaaS, for most
purposes, provides the possibility of
being the best and fastest way to adapt
– upgrades can happen very quickly if
you design your SaaS and related
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software correctly. This doesn't mean
that SaaSs automatically give you this
benefit, but for those who design SaaSs
and run them with this in mind – they
provide the safest solution to their
customers. The days of buying software
and using it until it dies are fading
away, there is too much risk in not
getting upgraded software on a regular
and emergency basis.”
Major Achievements
Horwood and his team were successful
in a market dominated by outdated
technologies and concepts, as well as
low-cost, low-value solutions. They
provide their customers with a
significant amount of value by being at
the higher end of lower-cost solutions.
They look for clients who will benefit
most economically from adopting their
software. “We keep our technology upto-date
instead of relying on 20 or even
30-year-old software that is not able to
provide value in the security risks and
innovative technology that are
constantly coming out,” says Horwood
.
Current Industry Scenario
In Horwood's opinion, initially,
COVID-19 had a significant negative
impact. Companies that used their
software and went out of business
obviously stopped purchasing from
them. However, by meeting their basic
needs, Horwood's ITIQPro has grown
its client base, experienced growth in
2022, and anticipates that all losses
will be recovered in 2023. Since the
exceptional leader and his team have
been working from home for a long
time, this aspect of COVID-19 had no
negative effects on them; in fact, the
improvements in meeting and
communication software benefited
them and allowed them to carry out
their long-standing tasks even more
effectively.
Key Milestones
In 2023 and beyond, ITIQPro plans to
leverage over 20 years of design ideas
while prioritizing customer feedback to
deliver excellent solutions. It is
committed to addressing its customers'
most pressing needs. One major goal
for the company is to recruit
exceptional programmers who can
contribute to a dynamic and customerfocused
team, ensuring high
productivity.
Chart Your Course With Expert
Advice
As a Founder, and veteran
professional, Horwood says, “Find a
need that many businesses have, then
set out to help as many of them as you
can. While the saying “The customer is
always correct” is not valid, “Treat all
customers, big and small, with
respect” is, I think, a more accurate,
though more cumbersome, way of
saying what was intended by the
statement.”
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Industry
Overview
16

The SaaS industry had been experiencing
rapid growth for several years. It was a
significant segment of the broader cloud
computing market. The industry's growth was
driven by factors such as cost savings, scalability,
flexibility, and the ability to access software and
services from anywhere with an internet
connection.
Key Players: The SaaS landscape is populated by
a diverse range of companies, from startups to
established tech giants. Some of the key players
included:
Salesforce: Known for customer relationship
management (CRM) solutions.
Microsoft: Offering SaaS products like Microsoft
365 (formerly Office 365) and Dynamics 365.
Adobe: Providing creative software through the
Adobe Creative Cloud.
17

Oracle: Offering various enterprise
software solutions delivered as SaaS.
Workday: Specializing in cloud-based
human capital management and
financial management software.
ServiceNow: Focused on IT service
management and other business
process automation.
Zoom: Gained significant prominence
for its video conferencing and
communication tools.
Slack: Known for its collaboration and
messaging platform.
HubSpot: Offering inbound marketing
and sales software.
Zendesk: Providing customer support
and service solutions.
Trends and Dynamics: Several
trends shaping the SaaS industry's
landscape:
Industry Specialization: SaaS
companies are increasingly focusing on
developing industry-specific solutions
to cater to unique business needs.
enabling advanced data analysis,
automation, and personalized
experiences.
Subscription Model: The subscriptionbased
pricing model remained dominant,
offering predictable recurring revenue
for SaaS providers and flexibility for
customers.
Integration and Ecosystems: SaaS
companies are putting efforts into
creating ecosystems and seamless
integrations with other software and
platforms.
Data Privacy and Security: With data
breaches becoming more common, SaaS
providers are prioritizing data security
and compliance with regulations.
Global Expansion: SaaS companies are
targeting international markets,
leveraging the accessibility of cloud
infrastructure to expand their customer
base.
Remote Work Acceleration: The
COVID-19 pandemic accelerated the
adoption of SaaS tools, especially those
related to remote work, collaboration,
and communication.
strategies, influencing SaaS providers
to offer solutions that can integrate
with different cloud environments.
Challenges: While the SaaS industry
presented numerous opportunities, it
also faced challenges, such as:
Competition: The industry is highly
competitive, with many players vying
for market share in various niches.
Customer Churn: Retaining
customers is crucial due to the
subscription model's dependency on
recurring revenue.
Data Security and Compliance: With
increasing data regulations, SaaS
providers needed to ensure robust
security and compliance measures.
Integration Complexities: As
businesses adopted a mix of SaaS
solutions, integrating them with
existing systems could be complex.
Evolving Customer Needs: SaaS
companies have to continually
innovate and adapt to changing
customer preferences and needs.
Artificial Intelligence (AI) and
Machine Learning (ML): Many SaaS
providers are integrating AI and ML
capabilities into their offerings,
Hybrid and Multi-Cloud
Environments: Many businesses are
adopting hybrid and multi-cloud
18

Jason Vego,
Co-Founder
20

Convenience stores are small retail businesses that
offer a variety of products and services to
customers, such as snacks, beverages, tobacco,
lottery tickets, fuel, and more. They operate in a
competitive and dynamic market where customer
expectations, preferences, and behaviors are constantly
changing. To succeed in this industry, convenience stores
need to optimize their operations, increase efficiency, and
enhance the customer experience.
Convenience stores can achieve these goals is by using
relevant software as a service (SaaS) solutions. With the
right SaaS solutions, convenience stores can save time,
money, and resources; increase their flexibility and
scalability; optimize their operations and efficiency; and
enhance their competitive advantage in the market. Bevz,
since its inception in 2020, has provided superior, reliable
technology solutions to convenience stores. The company,
co-founded by Jason Vego, has built technology to keep
convenience stores growing. The diligent leader ventured
into the realm of SaaS for the second time with Bevz
because he loves building technology to solve specific
needs for overlooked customers and industries.
21

Introducing the Brains Behind the
Creation of Bevz
The CEO & Co-Founder, Jason
embarked on his journey as an
entrepreneur in college, where he cofounded
a non-profit organization
dedicated to raising funds for
Children's Miracle Network hospitals.
After graduation, he took a marketing
position at Citrix, a multi-billion dollar
technology company, where he had the
opportunity to contribute to thrilling
growth, and innovative developments
in technology and software.
Throughout his tenure, Jason held
various roles, ultimately attaining the
position of Head of Global Employee
Communications & Engagement
before departing from Citrix.
After leaving Citrix, he returned to his
entrepreneurial roots and launched a
SaaS platform for dog groomers.
Unfortunately, this venture failed due
to various challenges, but he learned
several of the necessary skills required
to build a startup, which he later took
to Bevz. Still, he recognized the need
to enhance his strategic, financial, and
operational skills, so he pursued an
MBA at UCLA Anderson.
A few months into his MBA program,
in January 2020, Jason joined forces
with his Co-Founder, Victor Grayr, to
launch Bevz, a software platform that
helps convenience stores stock the
products their customers want and
easily sell those products in-store and
across multiple e-commerce channels.
Overcoming Obstacles on the
Journey
According to Jason, the biggest
challenge to date was the company
22

pivot – their original business, a
convenience store marketplace, was
the wrong solution to the right
problem. As the global pandemic
changed everything, they discovered
that their stores needed a lot more help
to better manage, track, and sell
inventory.
As he continues to push forward with
several unforeseen challenges, Jason
says, “My biggest source of motivation
is to help these convenience stores –
who have very few resources, minimal
technical expertise, and have been
overlooked – stay alive and thrive by
giving them affordable, advanced, and
easy-to-use technology to manage and
grow their business.”
Unique Marketing Strategy:
Building A Community
When it comes to acquiring
convenience stores, Bevz is a salesdriven
organization, but Jason thinks
there is a unique marketing opportunity
at hand – community building. The
Bevz team envisions a future where
they bring together local, regional, and
national convenience store owners and
leaders to support each other and win
together.
Over the next 5-10 years, Jason hopes
and expects there to be several new
vertical SaaS companies like Bevz, that
build software tailored to meet the
needs of a very specific industry or
customer base.
Game Plan: Focus On A Neglected
Sector And Provide Bespoke
Solutions
“We don't diversify our offerings today
on purpose. We are very focused on
solving a specific problem with a
specific offering. Today, we help
convenience stores with inventory –
23

Historic
of
Industry
The history of the Software as a Service
(SaaS) industry is a tale of technological
innovation, changing business models, and
evolving user needs. Here, we'll explore the
historic development of the SaaS industry from its
early beginnings to its present state as a dominant
force in the world of software delivery.
1. Emergence of ASPs (Application Service
Providers) (1990s): The roots of SaaS can be
traced back to the concept of Application Service
Providers (ASPs) in the 1990s. ASPs offered
hosted software solutions over the internet,
allowing businesses to access applications without
the need for local installations. However, the ASP
model faced challenges related to connectivity,
performance, and limited functionality.
2. The Dot-Com Bubble and Post-Bubble
Rebirth (Late 1990s to Early 2000s): The dotcom
bubble burst in the early 2000s led to a more
cautious approach to technology investments.
However, it also marked the beginning of renewed
interest in the ASP model as businesses sought
cost-effective alternatives to traditional software
licensing.
26

3. Salesforce and the Rise of SaaS
(2000s): Salesforce, founded in 1999,
played a pivotal role in popularizing
the SaaS model. The company
introduced its cloud-based Customer
Relationship Management (CRM)
solution, challenging the conventional
software industry by offering a
subscription-based service accessible
via the internet. Salesforce's success
demonstrated the viability of SaaS and
inspired other companies to explore
similar models.
4. Broadband and Connectivity
Improvements (Mid-2000s): The
mid-2000s saw significant
improvements in internet connectivity,
making it more feasible for businesses
and individuals to access software
applications remotely. This
development further fueled the growth
of the SaaS industry.
5. Expansion Beyond CRM (Late
2000s to Early 2010s): The success of
Salesforce paved the way for the
expansion of SaaS into various
domains, including Human Resources,
Finance, Collaboration, and Project
Management. Companies like Workday
and NetSuite introduced cloud-based
solutions that addressed specific
business needs.
6. Cloud Computing and
Infrastructure Advancements
(2010s): The proliferation of cloud
computing technologies, coupled with
advancements in infrastructure,
significantly boosted the capabilities of
SaaS applications. This era saw the rise
of platforms like Amazon Web
Services (AWS) and Microsoft Azure,
providing the underlying infrastructure
that enabled SaaS providers to deliver
scalable and reliable services.
7. Global Adoption and Maturation
(2010s): The SaaS industry continued
to grow globally, with businesses
across different sectors adopting cloudbased
solutions. Large enterprises,
small businesses, and startups all
benefited from the flexibility, costeffectiveness,
and accessibility offered
by SaaS applications.
8. Specialization and Vertical
Solutions (Late 2010s): As the market
matured, SaaS providers began
focusing on specialized solutions
tailored to specific industries. This led
to the development of vertical SaaS
applications that catered to the unique
requirements of sectors like healthcare,
finance, education, and more.
9. AI and Integration Capabilities
(Recent Years): In recent years, the
integration of Artificial Intelligence
(AI) and Machine Learning (ML) into
SaaS applications has become a
notable trend. SaaS providers leverage
AI to enhance data analysis,
automation, and personalized
experiences, further adding value to
their offerings.
10. Continued Growth and COVID-
19 Impact: The COVID-19 pandemic
accelerated the adoption of remote
work practices, driving the demand for
collaboration, communication, and
productivity tools offered by SaaS
providers. As businesses embraced
remote work, the SaaS industry
experienced even more rapid growth.
11. Future Prospects: Looking ahead,
the SaaS industry is poised for
continued expansion and innovation.
As technology evolves and user
expectations change, SaaS providers
will likely focus on further enhancing
security, data privacy, integration
capabilities, and AI-driven insights.
The historic development of the SaaS
industry has been marked by a journey
from early ASP models to the global
dominance of cloud-based
applications. From Salesforce's
pioneering efforts to the current era of
AI-driven solutions, the SaaS industry
has reshaped the software landscape
and is set to play an even more
transformative role in the digital future.
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