The evolving landscape of payment technology has propelled the rise of Software-as-a-Service, especially for eCommerce players. This week, research firm Gartner announced the 2015 Cool Vendors in Digital Commerce, listing five software vendors with open platforms that support existing digital commerce efforts of various companies.
The top five companies include Boomerang Commerce, HotWax Systems, Limonetik, Mirakl and Powa Technologies. Their strengths include price optimization, the ability for companies to bypass licensing fees, loyalty programs, and customer engagement, all offered as solutions to the array of business problems online sellers need to accommodate.
Open-source platforms have been crucial to the growth of eCommerce, especially SMEs that want to begin selling products to businesses and consumers online but may not have the infrastructure or knowhow to build their online shop from scratch.
“The open-source business model enables a company to implement a B2C or B2B commerce solution with no licensing or maintenance costs,” Gartner explained. “Customers are able to own the source code for their commerce initiatives, and to control the path and pace of future enhancements.”
Researchers found that Apple Pay’s 2014 launch was instrumental in boosting interest among merchants to explore new ways to accept payment online and offline, which led to the search for SaaS providers that could accommodate these new payments technologies. Other factors companies look for when launching online commerce operations is price optimization, as well as cloud-based application environments.
Gartner highlighted the need for businesses to map the resources they need – financial and technical – to develop an in-house eCommerce solution before they choose a SaaS vendor. Researchers also suggested that businesses explore the niche technologies offered by each individual eCommerce platform provider.
The report highlights some of the lesser-known eCommerce SaaS providers available to B2B and B2C merchants today. Other companies, like Bigcommerce, have reacted to the demand for SaaS on top of a platform to sell goods; earlier this year Bigcommerce revealed three new partnerships aimed at expanding its SaaS solutions.
“We’re seeing unprecedented demand in the enterprise space as the eCommerce market continues to grow quickly and more merchants are realizing the benefits of SaaS solutions,” Bigcommerce co-founder and CEO Eddie Machaalani said at the time.