Company Spotlight: FastSpring and the Revolution of SaaS
In the early 2000s, the SaaS industry saw rapid growth, extending to many different industries including eCommerce, human resources, business intelligence/analytics and accounting. In addition to large players like IBM and Salesforce, small companies all over the world began developing their own SaaS products. This growth continues today, with Gartner reporting that the public SaaS market grew to a staggering $204 billion in 2016, and Forrester projecting a compound annual growth rather of 22% until 2020.
However, while the industry was growing at incredible rates, the ease of doing business had not kept up. SaaS providers were struggling with setting up their eCommerce storefronts. Many found that traditional eCommerce enablement platforms were not well suited to their needs, lacking robust customer support and the flexibility to address their unique business models.
In 2005, a group of eCommerce veterans saw the beginnings of these trends and decided to change the SaaS game. They started with a mission – bypass the legacy systems that had been dragging the SaaS industry down, while addressing the contemporary needs of a universal customer. As a result, FastSpring was born – the first flexible, full-stack digital commerce platform for software, SaaS, content, or anything-as-a-service businesses.
What is FastSpring?
FastSpring is a robust and technologically advanced eCommerce platform that allows users to sell digital products through online, mobile, and in-app experiences. The company has revolutionized the eCommerce storefront to maximize conversions, increase sales, and ultimately grow business.
The founders of FastSpring believed that superior customer support and service, for both sellers and buyers, was an important differentiator in a market well known for woeful treatment of customers. That mentality remains paramount. In addition to 24 Hour customer support, FastSpring gives its sellers full control of their customer experience. This next-generation contextual commerce product supports the latest digital commerce business models and customer experiences. Plus, FastSpring is incredibly easy to integrate and start using; on average, you can get started selling online in just a few hours.
Fueling growth for digital goods
Today, FastSpring is helping SaaS providers and software developers expand across global markets. Beginning with VSBs and SMBs, the company now also services divisions of larger companies including Adobe, Telestream and Random House. FastSpring continues to adapt and evolve with customers who have shifted from download/one-time-purchase sales to cloud-based/subscription models using their recurring payment software. Most recently, an integration with Payoneer has enabled FastSpring customers to accept payments from over 200 countries and territories, and offer a variety of fast and flexible payment methods.
Looking forward, FastSpring aims to continue its innovation by offering uniquely differentiated products. FastSpring storefronts will evolve with the eCommerce industry as payment processing, recurring billing, and back office becomes increasingly developed and integrated. Over time, SaaS will continue to change radically. FastSpring strives to be an integral part of the emerging fabric for this digital transformation.
FastSpring is now the a leading SaaS eCommerce platform, powering thousands of successful entrepreneurs in over 200 countries. To sign up for FastSpring, head to www.fastspring.com and create a free account to begin selling from your website. Creating an eCommerce storefront has never been easier.