Greek Tech on the Rise in B2B SaaS
Greece’s history is rich with incredible leaders, thinkers, poets — and also engineers. While many of the creations of ancient engineers have deteriorated over time, some have survived the passage of time, such as the Erechtheion and Parthenon. Today in modern Greek times, instead of building physical structures, Greek engineers are building software tools to enable efficiency, analytics, and convenience for companies. The physical structures and software structures both have lasting effects on the progression of society.
In this next post of our #GreekTechRising series, we dive into the rapidly growing B2B SaaS sector of the Greek tech ecosystem — to explore key factors and trends on the growth of the industry, and take a closer look at some companies in the space that are making waves.
The Different Uses & Goals of SaaS Technology
The SaaS (software-as-a-service) industry is growing as companies are increasingly using cloud services and launching ventures targeting markets beyond Greece. With the cloud, it is now easier than ever to build platforms that enable information sharing and process optimization for teams and customers. In general, SaaS products can have a variety of purposes; some being providing financial insights, managing the workforce, using marketing automation to track results of every campaign, and using analytics to better understand customer satisfaction.
With the cloud, it is now easier than ever to build platforms that enable information sharing and process optimization for teams and customers.
SaaS Companies Leading the Way for Expat Hiring & Repatriation
Many SaaS companies — such as localization technology Transifex — are hiring expatriates and providing repatriation incentives to bring Greek talent back from abroad. Talented college graduates have been leaving Greece ever since the crisis — in less than a decade due to the financial crisis, more than 2% of the population has left, resulting in “Brain Drain.” The loss of human capital – top talent and intelligence – has been influencing the stagnation in innovation and technology. To help counter this, local SaaS ventures are building creative programs to incentivize expatriates by offering bonuses for them to come back to Greece and work for them. In doing this, they hope to nurture the strong entrepreneurial Greek business culture by empowering people to access and leverage invigorating job opportunities back home.
Talented college graduates have been leaving Greece ever since the crisis — in less than a decade due to the financial crisis, more than 2% of the population has left, resulting in “Brain Drain.”
SaaS Technology Powering Entrepreneurship to Thrive
Entrepreneurship is thriving in present-day Greece. Greece has a highly educated workforce, many with strong backgrounds in science and engineering, who are looking for employment opportunities while venture capital firms are looking for investing opportunities. Entrepreneurship is also becoming more delocalized and affordable, allowing innovation to flourish. With the rise in start-ups and companies in Greece, B2B SaaS companies are becoming more relevant.
Greece has a highly educated workforce, many with strong backgrounds in science and engineering, who are looking for employment opportunities while venture capital firms are looking for investing opportunities.
Growth in the Space Driving Technological Innovation
The technological innovation is driven by the developments in the space including the increases in processing power, lower cost of data storage, expansion of access to Internet, and integration of artificial intelligence. The conditions are ideal for innovative start-ups to create products, allowing Greece to become a technology hub. This digital revolution is not only benefiting the people of Greece, but also the Greek economy.
Companies Disrupting the B2B SaaS Sector
As the B2B SaaS industry continues to grow and evolve in Greece, we see a diverse range of companies that are emerging to address different pain points for companies. We see companies that focus on data storage, CRM, reports, and more. Here are five examples of companies that are revolutionizing the B2B SaaS industry in Greece:
Translation & Localization
Transifex is a translation platform or globalization management system (GMS). It focuses on technical projects with frequently updated content, such as software, documentation and websites. Transifex helps companies easily localize all digital content through a powerful set of translation tools and features. Transifex has helped companies like Trello, Eventbrite, Prezi, and Insightful build multilingual products suited for the whole world.
Data Integration Solution
Blendo is a data integration platform that allows companies to collect and sync data with any data warehouse. The tool makes it easy and fast to collect data from any data source. It has the ability to connect with many data warehousing solutions (Amazon Redshift, PostgreSQL, MS SQL Server), export historical data, schedule how often data should be pulled, prepare the data itself, and monitor using reports. Blendo is ideal for product analysis, customer success, sales & CRM, and email marketing. ListReports and Found have been success in using Blendo in the past.
Collecting Data Through Mobile Surveys
Pollfish is a market research company which creates surveys and sends them to select populations of people on a global scale with a quick turnaround. This allows organizations to gather feedback from consumers in real time. Due to the fact that digital marketers are using mobile and people spend most of their time on their phone, Pollfish also uses mobile to target customers. Pollfish has also recently expanded its offices to New York City.
Quick & Easy Eye Tracking Data
Loceye provides an online eye-tracking service for media companies, agencies, marketing professionals, and designers. It determines where, when, and for how long a user focuses their eyes on certain elements on the screen. Loceye simplifies the process by eliminating the need for extensive lab work or equipment so that the company can receive hundreds or thousands of results within little time with a high level of detail. Loceye provides the crucial information for developers to make data-driven decisions.
Recruitment Software for Fast-Growth Companies
Workable is a cloud-based recruitment software aimed at fast-growing companies. It helps companies simplify hiring process right from career pages and job board syndication to collaboration, scheduling, social recruiting and analytics, Workable helps manage recruiting pipeline, applicant tracking, and engagement, and also enables one-click application for candidates.
Greek Tech on the Rise
B2B SaaS technology is continually providing the technology for companies to become more efficient and advance. In the future, there will be SaaS technology to address other aspects of the business, such as the ability to predict churn of customers or determination of what products to cross-sell. Explore the rest of the #GreekTechRising series to learn more about other trending industries, emerging ventures in each space, how they are all contributing to the overall rise of the Greek tech ecosystem.
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