Enterprises are always on the lookout for innovative technology and tools that could resolve the challenges surrounding the fundamentals of the enterprise world which include but are definitely not limited to managing big data, the nitty-gritty of DevOps, cloud solutions, mobility, and cybersecurity. And then we have the startup sector, buzzing with new technology every day and capitalizing on the increasing demand of tools required by enterprises for their smooth functioning.
COVID-19 pandemic has added to the demand for these tools with lockdown and entire workplaces shifting to remote work models subsequently. The out of the ordinary digital transformation in 2020 has skyrocketed IT spendings and according to a survey, worldwide IT spending is projected to total $3.8 trillion in 2021, a further increase of 4% from 2020. This means the IT sector is beginning to transition from supporting the business to being the business.
Below we have rounded up some of the hottest tech startups of 2020 that build software and services for large enterprises and help businesses generate revenue and add to the growth and innovation globally. The list is based on multiple parameters; a startup's ability to engage new customers, revenue generation potential and the flexibility to adapt to dynamic market trends.
In a highly competitive business environment, good customer service is arguably one of the most important metrics. A top-notch customer service ensures a loyal customer following, referrals, successful case studies and good reviews. That's where the ASAPP platform makes sure to handle customer's conversations and assist in making real-time and quick decisions hence enabling automation and work simplification. It employs the AI-Native technology that continuously processes the customer interactions predicting the audience interest and subsequently, improves conversions. It helps cut down on manual training and learning and development costs of customer service agents. Not only customer service, but its AI-based technology also helps supercharge the sales team by decreasing average handling time and automating routine tasks. ASAPP is being used by some of the world's largest companies in the domains of financial services, telecom and real estate, etc.
2. Lead Genius
Let's admit it. B2B sales prospecting is so damn difficult! In an ever-changing and evolving marketplace, conventional prospecting and pitching techniques most likely aren't gonna help you. The number one rule of reaching out to a prospect is; DO YOUR RESEARCH. According to statistics, 80% of B2B industry data remains uncovered and underutilized. But fortunately, technology has greatly facilitated the dreaded task of B2B prospecting by way of SaaS. Lead genius is one such software that helps connect the sales team with the target prospects by providing unique data sets personalized according to the business niche. The startup uses a mix of artificial intelligence and human expertise to connect with the decision-makers of the target enterprise and hence makes the overall process of reaching out more efficient. The unique approach of Lead Genius also provides insights and helps prioritize the existing data. Not to mention the alert feature that provides a tip-off when any target prospect starts engaging with a competitor in the same niche. Lead genius is a venture capital, backed by Silicon Valley's notable investors.
In the real world, nothing is perfect. Software fails. Cyber attacks happen. As a result, customers suffer due to long downtime which subsequently affects the revenue generation of businesses. So is it possible to develop perfect software that won't face outages? Probably not. But it is possible to make more resilient software by deliberately breaking it to understand how it can be made more resilient and fix failures before it ends up causing your business lost revenues and an impaired reputation. This is what chaos testing is about. Gremlin is a venture by ex Netflix and Amazon engineers that employs chaos engineering to help enterprises make their software more resilient. It points out probable software failures before they turn into outages. Organizations like Walmart and JP Morgan Chase and Co use gremlin to create more resilient software.
In fast-paced work environments, it usually happens to mistype an email address or copy in the wrong person especially when using the autofill option. There are a number of risks involved in miss sent emails especially pertaining to the confidentiality and security of the data. Tessian is a UK-based startup that employs a machine-learning algorithm to detect misaddressed emails and analyze the content of the email to look for potentially sensitive information and prompts the user to double-check the recipient. Tessian's clientele includes more than 70 British law firms to protect their emails.
According to a poll-based study conducted in the U.S., on average, 22 minutes a day are wasted by employees dealing with IT-related issues. 22 minutes a day equals two hours of work time wasted in a 40-hour workweek. This subsequently makes up over 95 hours wasted per year! IT support issue is one of the frustrating problems, especially in large enterprises. Moveworks is an AI-backed platform that resolves IT issues instantly, leveraging natural language understanding without any human intervention. It takes 3 days on average to resolve an IT issue and Moveworks just do it in 3 seconds! Movework has many of the notable global companies as their clients including Slack, Unity, Autodesk, and many others.
So, you have a great idea in your mind. You execute it and launch a savvy product or a service. But you do not know to target your audience and convey the value that your product can provide to them. Without marketing, many businesses wouldn't exist because marketing ultimately leads to sales. And in today's world, it's not just about marketing, it's about the importance of the right marketing. Technology has now started shifting the idea of conventional marketing to the digital realm. HYP3R is a digital marketing platform that employs geosocial data to locate high-value customers through targeted campaigns. HYP3R reduces the customer acquisition costs by 60% and helps develop an actionable CRM based on solid data.
Nowadays, enterprises not only have to manage and store the big data but they need to generate insights from it. For this purpose, instead of individual data points, relationships between the data points matter the most. Graph database technology stores the data as relationship information. Neo4j is a California-based startup that provides commercialized graph database technology. It is the only enterprise-strength graph database provider that includes graph storage, scalable architecture, and relationship-based queries. Neo4j was utilized by ICIJ to present the information leaked in the Panama papers scandal. NASA also uses it to store and share its research material.
With the rise of digital marketing, marketers now have to rely heavily on the IT department to properly execute their marketing campaigns. Unbounce simplifies the task for marketers independent of IT. The platform allows creating and publishing landing pages, lead gen, and sales letters without any coding involved. The drag and drop feature and templates allow to build and manage the marketing campaigns without any tech help involved.