SaaStr Annual 2024: A Vital Resource for Scaling Tech Companies

The event brought together the SaaS (software as a service) community, including AI and cloud executives, founders, and venture capitalists, all focused on helping teams and businesses scale.

The Scale Up Collective, by Odgers Berndtson, partners exclusively with venture capital and private equity businesses to maximise value creation, achieve traction and velocity and deliver strong returns on investment. 

Following our time at the event with some of the most revered SaaS companies and their leaders, we identified several key industry trends which any scaling technology company should be aware of.

Importance of Sales Leadership 

Jason M. Lemkin, founder of SaaStr, emphasised the necessity of hiring a global head of sales to professionalise sales and drive revenue. Founders often stretch their tenure as sales leaders, which can hinder growth. It is crucial to hire the right sales leaders to match the company's go-to-market motion. 

Enterprise Customer Demands 

Jonathan Rosenberg, CTO of Five9, outlined the top 10 things enterprise customers demand from B2B SaaS vendors, including ease of use, data security, seamless experience, and real-time analytics. 

AI Investment Trends 

AI continues to dominate investment, with scale-ups developing sophisticated solutions to increase operational efficiency. Enterprises are increasingly adopting AI solutions, particularly in areas like contact centres and functions such as legal and finance. 

Multi-Product Solutions 

The smartest SaaS vendors are building multi-product solutions to avoid obsolescence and scale effectively. Enterprises are cautious in adopting AI, often trialling multiple solutions before committing fully. 

Efficiency 

Many SaaS vendors are focusing on radical efficiency, with even scale-ups being more cautious about growth plans. Industry leaders noted that even big-tech companies are now experiencing single-digit growth. 

Work Culture Challenges 

There are ongoing challenges with remote work and hybrid models, with some founder CEOs yearning for highly motivated, high-impact contributors who are willing to work in-office. 

The AI Discussion 

What’s Working with AI: 

• AI for onboarding to accelerate product adoption and understanding of customer preferences. 
• Automating basic manual tasks to save time and simplify work. 
• Full custom models driving innovation. 
• Proprietary AI focusing on vertical data to deliver real business value. 
• Leadership-driven AI strategy to progress rapid growth. 

What’s Not Working with AI (currently): 

• Narrow AI applications struggling to prove repeatable value. 
• Enterprise self-serve onboarding not fully effective just yet. 
• Human oversight still needed for complex tasks and quality control, rather than fully automated solutions. 
• Challenges in pricing and monetisation models.

Odgers Berndtson’s Scale Up Collective was established to help founders and investors avoid critical hiring mistakes and maximise the potential of their businesses. The SaaStr Annual 2024 provided invaluable insights and opportunities, reaffirming our commitment to supporting SaaS vendors on their journey to success. 

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Get in touch. Follow the links below to discover more or contact our dedicated leadership experts from your local Odgers Berndtson office here.