Hexaware eyes slice of $900 billion SaaS market with AI-enabled software, even as AI-infused revenue tops 50%
Hexaware Technologies is targeting the $900 billion SaaS market by using AI to build custom software that replaces expensive licensed enterprise applications. The company has introduced a new AI delivery layer called 'Zerovity' to streamline business processes and reduce reliance on traditional software vendors.
Why it matters
This strategy represents a shift in enterprise IT, where AI-driven custom development may disrupt the traditional subscription-based software licensing model.
Hexaware Technologies is going after a slice of the $900 billion global SaaS market, betting that AI has made it cheap and fast enough to build custom software that can replace licensed enterprise applications rather than simply migrate customers from one subscription vendor to another.
“It’s no longer expensive or time consuming to build custom software to replace SaaS. We do it in weeks or months,” CEO R. Srikrishna said during an interaction with reporters.
Mr. Srikrishna said labour is the largest cost in a client’s IT budget, followed by software licensing and cloud, while AI tokens are expected to become the fourth-largest cost by 2027.
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