Nine-out-of-ten SaaS companies plan to enter an international market this year.
That statistic from Velocity Global’s 2020 State of Global Expansion™: Tech Industry report resonates with software as a service companies navigating growing businesses amidst a global pandemic. Cloud-based products become necessities in times of isolation and remote work. And with growing demand and adoption comes the need for SaaS companies to expand as they seek and support sales, as well as hire and retain top talent.
Velocity Global CEO, Ben Wright, and Vice President of International PEO Strategy, Laura Isaza, shared insights on global growth with top leaders in the SaaS industry during SaaStr Enterprise.
Top Takeaway: Stay flexible. SaaS companies have seen growth as workflows have changed, but the world is moving quickly. Changes come in the blink of an eye and companies do not want to over commit, or recklessly invest. Flexible options to grow and hire internationally enable companies to test markets and find top talent almost immediately. That flexibility also allows them to shift focus to a new area or scaled back as business and health conditions demand.
Other topics of discussion:
- Work from anywhere pushes businesses to think globally now. They can hire and manage teams anywhere in the world to help their business grow and compete.
- New immigration policy makes it challenging to bring top talent to the United States. Companies are looking to hire those employees in their home country.
- Regulations are changing rapidly. Navigating them on your own is challenging at best, costly if not done correctly.
- Setting up a foreign entity has only gotten more difficult with delays and governments prioritizing pandemic response.
Watch the full presentation with Ben and Laura on YouTube or contact one of our experts today to see how we can help you hire in more than 185 countries.