Rocketlane, a Chennai-based software-as-a-service startup, stated that customer onboarding is becoming increasingly important for B2B companies selling to large clients, for whom a proper onboarding expertise is proving to be a boon in fast-paced development environments, according to cofounder and CEO Srikrishnan Ganesan.
Ganesan told ET that companies have started spending in customer onboarding even before they’ve invested in traditional customer success tools. “It’s a fantastic sign for us that this sector is growing quickly and that money is being made.”
Rocketlane is seeing brisk registrations for an onboarding-focused event, showing strong interest in the category.
supported by venture capital Rocketlane is part of a new wave of business-focused SaaS companies emerging from India, which are rapidly gaining traction in the multibillion-dollar US SaaS industry.
With established players such as Zoho and Freshworks specialised in corporate software such as help desks, CRM, accounting software, customer success, and more, the new generation is sharpening its teeth in sectors that are more likely to show market depth in the coming years.
With the rapid acceptance of public cloud software programmes throughout the world, the SaaS market has gone a long way from where it was ten years ago. As more SaaS becomes available, the process of onboarding new, large clients will become increasingly important for growing B2B SaaS providers.
“The first time a customer interacts with your B2B company is during onboarding. When you do a poor job there, you’re already on the back foot. You’ll be able to have an early growth conversation if you impress and deliver value quickly. As a result, time-to-value, NRR, and churn, three of the most important SaaS KPIs that boards worry about, are impacted,” Ganesan explained.
In terms of growth estimates, he stated that, for the most part, SaaS companies anticipate to see a 5x increase in revenue in the first year, up from the 3x that was previously the average.
He went on to say that these expectations are in line with the amount of money going into SaaS companies, and that founders must ensure that the goals do not contribute to their teams’ stress levels. Rocketlane has thus far raised $21 million in investment.
Now The company, which is located in Chennai, has just recently began recruiting in the United States.
It hopes to capitalise on its newfound clout with Propel 22, a two-day digital world event focused on buyer onboarding that began in mid-March.
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