Anant Corporation currently extends its services as a business platform creator, designer, and manager to numerous companies. However, Anant’s current business plan only allows for a few larger job requests rather than a multitude of small requests. This is due to how such services require a large dedicated amount of time to work on and manage. For Anant’s future expansion, Anant chose to shift focus from client-focused work to offering a service to customers. In other words, rather than focusing on consulting services and business platform design, Anant plans to provide software to a larger range of companies and people.
Business Services Industry
In Anant’s current industry of business services, analysts estimate the total U.S. market size to be worth $69.9 billion in 2021 (Statista.com). Business services is an industry where businesses build platforms to deliver value to their customers. Although this industry is a huge market to tap into, Anant is better equipped for a product-style business than a consulting-style business. This is due to the time-consuming nature of consulting services. Helping companies maintain their platforms requires more time than offering subscription-based software.
As a result, Anant decided to switch its focus toward the software-as-a-service (SaaS) industry. SaaS is a software distribution model where another company, in this case, Anant, provides applications for customers on the internet. At the same time, Anant still maintains its services to its current clientele. Through this reorientation of the company, Anant will move to a larger, higher-growth market. Analysts value the SaaS industry at over double that of the business services industry, at approximately $145.5 billion in 2021 (Statista.com). Further, this shift to providing a service for Anant allows for more efficient use of the smaller employee base. In turn, Anant will generate more revenue, eventually doubling its revenue within the next few years.
Public cloud application services/software as a service (SaaS) end-user spending worldwide from 2015 to 2022
(in billion U.S. dollars)
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