The company confirmed the deals on Wednesday but did not disclose how much it paid.

Both businesses were started by brothers Chris and Mike Sharkey, who earlier co-founded Stayz. They will now take up leadership roles inside Canva, working across its AI and marketing technology teams.

With the acquisition, Canva is working to bring more of a team’s daily work into one place, building tools that cover everything from early ideas to running and measuring campaigns.

Simtheory focuses on AI systems that can carry out tasks. Its platform allows companies to build assistants trained on their own data, connect them to tools like email or customer systems, and assign real work. Teams can also design workflows where these assistants handle repeated tasks.

Ortto works on the marketing side, combining customer data with tools that let companies run campaigns across email, SMS, push notifications and in-app messages.

Canva says the system is already used by more than 11,000 customers across 190 countries, with features that allow data to update and trigger actions in real time.

“Simtheory accelerates our evolution from a design platform with AI tools to an AI platform with design and productivity tools at its core,” said Canva co-founder and chief operating officer Cliff Obrecht.

“At the same time, Ortto strengthens our ability to power the entire marketing and content lifecycle through Canva Grow, from planning and creating to publishing and optimising across every channel.”

Canva Grow is the company’s product for content creation and performance tracking. These new additions will sit alongside it.

In recent months, Canva has steadily added new companies including Doohly, which focuses on digital outdoor advertising, just weeks ago.

Earlier, it acquired Cavalry, an animation startup, and MangoAI, which works on improving advert performance. In January last year, it also picked up marketing intelligence firm MagicBrief.

The latest deals with Simtheory and Ortto push Canva further into a space long held by larger enterprise software firms. It is building tools that combine design, data and automation, instead of relying on separate systems.

The company is expected to show how all of this fits together at its Canva Create event on April 16, where it has said it will unveil what it calls its biggest product update yet.

Canva closed 2025 with about $4 billion in annualised revenue. It reported more than 265 million users and 31 million paying customers, with monthly activity up by around 20% over the year.

Now, as we look ahead to 2026, our view sharpens. The growing complexity across cloud, hybrid, compliance and threat landscapes forces us to confront three truths: first, protecting cloud data must become non-negotiable; second, AI should be used deliberately to defend, not just to automate; third, compliance and regulatory pressure are reshaping how and where data lives.

Here are four hard-edged predictions from Keepit’s expert voices, each built on real trends and a clear roadmap, not marketing fluff.

1. AI offense evolves faster than defense – unless leaders demand transparency

• Kim Larsen, Chief Information Security Officer

AI-driven attacks will become highly adaptive. By 2026, adversaries will use AI systems that map entire infrastructures in seconds, identify weak links deep in the supply chain, and shift tactics in real time to bypass defenses.

Hybrid warfare will amplify this trend as hostile actors blend geopolitical intent with AI-enabled automation at scale.

Defenders will match this only if they adopt AI with intention and transparency. Security teams will use AI to understand exposure, strengthen detection, and model where risk concentrates. But success will depend on knowing how an AI system works, what data it relies on, and how decisions are made. CISOs will demand clarity, control, and accountability. The organizations that win will be those that use AI to enhance, not replace, human judgment.

2. Hybrid is back, and so is the race for skills

• Jakob Østergaard, Chief Technology Officer

Hybrid environments will grow faster than anyone expected. After years of cloud-first narratives, companies are re-evaluating what belongs where. Political instability, rising sovereignty requirements, and cost pressures are pushing critical workloads back on-premise. Servers, storage systems, and licensed software are seeing a resurgence because organizations want balance, not absolutism.

This shift exposes the growing skills gap. Demand for deep technical expertise in networking, Linux, and systems engineering is accelerating while talent inflow is shrinking. By 2026, this shortage will influence everything from innovation speed to resilience planning.

Meanwhile, quantum and AI will face a public reckoning. The promise of crypto-breaking quantum machines and near-term AGI will give way to more realistic timelines. Investments will continue, but the narrative will mature as enterprises look for practical, defensible value rather than speculative breakthroughs.

3. AI stays practical in 2026, while modernization remains the real priority

• Niels van Ingen, SVP Business Development and Strategy

AI adoption in 2026 will feel familiar. Most enterprises will continue using agentic AI to automate repeatable tasks and augment existing processes, not reinvent them.

Only one in 5 organizations report getting meaningful value from their AI tools at the current time with key adoptions challenges being cost and lack of control mechanisms in context of the desired outcomes.

Autonomous business intelligence will remain niche because the foundations including infrastructure required are simply not ready: data quality, governance maturity, and organizational skills still lag far behind the ambition.

Modernization efforts will remain the primary focus. Companies will keep working through the practical realities and motions to replace platforms like VMware and Citrix, while using SaaS to accelerate outcomes where it makes sense.

At the same time, compliance and regulatory pressure will intensify. Leaders will need a clear understanding of sovereignty requirements, new operating models, and the talent divide between “old way” and “new way” practitioners.

In 2026, CIOs will be planning for what IT must look like in 2030. The problems they solve today will not be the ones they face next and there is a lot of pressure on the IT suite to ensure companies are ready and competitive as the AI  transformation gains momentum.

4. Compliance goes default: NIS2 and DORA will reshape every SaaS RFP

• Jan Ursi, VP Global Channels

By 2026, compliance expectations will become embedded in nearly every SaaS data protection RFP. Requirements tied to NIS2 and DORA will shift from “requested” to “assumed,” especially in finance, energy, healthcare, and the public sector.

Organizations will insist on local digital sovereignty: data stored in-region, zero sub-processors, and guaranteed access even if the original SaaS platform is unavailable.

Because many companies are still in the early stages of meeting these regulations, demand will rise sharply as deadlines tighten. Local partners will play an essential role.

They understand national sovereignty rules, infrastructure constraints, and the operational realities of regulated industries. As a result, the channel will become a core enabler of compliant SaaS adoption, not an afterthought.

Freestyle Capital led the investment, with additional participation from Elefund, Upside Partnership, Nomad Ventures, Layout Ventures, MSIV Fund and strategic angels from Intuit, Workday, Affirm, Snapdocs and xAI.

Modern businesses are powered by a vast web of third-party providers — AI tools, SaaS platforms, contractors, and managed services. Yet most teams still manage these critical partnerships with spreadsheets, scattered documents, and crossed fingers. Stackpack is changing that.

Founded in 2023 by Sara Wyman, a veteran of Etsy and Affirm, Stackpack emerged from firsthand experience with the chaos and cost of unmanaged vendors.

Wyman saw how missed renewals, redundant tools, and growing compliance risks could quietly drain budgets and introduce operational risk — and recognized that the vendors powering a business were as essential to its success as its internal team.

With Stackpack, finance and IT teams get a single source of truth for all third-party vendors – automatically surfacing renewal dates, contract owners, shadow IT, compliance gaps, and savings opportunities.

The platform uses AI to not only uncover blind spots, but also acts on behalf of customers as an agent to ensure nothing falls through the cracks. Ultimately, Stackpack turns vendor sprawl into strategic advantage.

“The majority of companies aren’t managing the entities that power them,” said Sara Wyman, founder of Stackpack. “Companies think of themselves as ‘people-first’ – but today they’re ‘vendor-first’. There are typically 6x more vendors than employees at the average U.S. company, and that number is quickly increasing. And there isn’t a system to manage that shift.”

The early team behind Stackpack includes early leaders from PayPal, eBay, Adobe, Asana, Twilio, and Google — operators uniquely positioned to build a networked platform and scale it from early stage to market leadership.

Stackpack enters the market at a critical moment: Over $475 billion is spent annually on third-party software and services in the U.S. alone, with an estimated 25% of it going unused. Payroll budgets are shifting to outsourced contractors and AI expense.

Compliance risks are multiplying as third-party vendors handle sensitive data. A lack of transparency in renewal dates and pricing are wrecking budgets and forecasts. Today’s finance and IT teams need real-time visibility, automated guardrails, and tighter controls more than ever, and Stackpack is building the platform for this new era.

“Every vendor decision today carries financial, legal, and privacy implications — it’s a C-suite concern,” said Dave Samuel, general partner at Freestyle Capital.

“You wouldn’t manage employees or customers in spreadsheets, so why are we still doing that for vendors? Stackpack is automating the entire vendor lifecycle – from discovery and evaluation to renewals – bringing visibility, control, and strategic oversight to every stage. With this foundation in place, they’re uniquely positioned to connect buyers and sellers in smarter, more transparent partnerships.”

Just months after launch, Stackpack is already managing over 10,500 vendors and $510 million in spend across more than 50 customers, including Every Man Jack, Rho, Density, HouseRx, Fexa, and ZeroEyes.

For finance leaders, the value is simple and provides the ultimate financial insurance. “The CFO is on the hook when something gets missed. Stackpack means we don’t have to cross our fingers every quarter,” said Brandon Lee, accounting manager at BizzyCar.

At Stride Health, Controller Arthur Weiarticulated the problem clearly: “Vendor buying is decentralized – but it comes back to the finance team to manage financial health and reporting.”

Alongside its core Stack Management platform, Stackpack is now expanding beyond visibility with a second product: Requests & Approvals, currently in beta.

Designed as a lightweight, affordable alternative to platforms like Zip and Coupa, it gives teams a faster way to evaluate and approve vendor requests. Over time, Stackpack also plans to help customers discover and evaluate new partners.

Looking ahead, Stackpack’s mission is to help companies connect with the right partners, at the right time, on the right terms – transforming vendor management into a strategic capability. “This isn’t just a finance problem,” said Wyman.

“It’s a foundational shift. We not only need to be the eyes and ears to help companies reduce cost and risk, but also find the right tools for their budget and size. Managing your vendors and partners should be as strategic as managing your talent – vendor ecosystems are the next major competitive edge.”

However, many retailers have discovered that a technology solution decision is far more complex than it would seem, and, instead, they should be investing in self-enablement.

Consider this, a retailer in a city hub, complete with its own power backup and fast connectivity, can deploy a fully cloud-based solution. This is not much unlike the markets that international vendors understand.

However, we are speaking about our unique South African context. redPanda Solutions can say unequivocally that you do not want a cookie-cutter approach that says: “I can do the same thing everywhere”.

A retailer outside of the major city regions, with smaller stores in some of the more remote areas, needs the flexibility to work in the cloud and have in-store servers. They need full redundancy to deal with connectivity and power challenges. Retail is unforgiving – an inability to trade can close doors.

A loss of skills

Unfortunately, when a retailer invests in a new software vendor there is often an acknowledgement that they are going to lose a significant number of staff because they need to be replaced with new skills to deal with new technologies.

Essentially, the retailer needs to move a substantial portion of the services to the vendor, who is that technology stack expert.

This gives rise to Software-as-a-Service (SaaS) environments and, in many cases, the loss of valuable skills and IP within a retailer. This causes a cascade of problems later on when there is no one in the organisation who knows why something was configured a certain way… until it’s too late.

This is not to say SaaS is not the right solution – in many cases it absolutely is, however, it depends on how the SaaS solution is designed and run. When a retailer finds itself in a situation where it no longer retains valuable IP, it loses the ability to do what it once could. If processes fail, no one can remember why something was done in a specific way. There most likely is a very good reason things are as they are — but because the IP is gone, no one can answer why.

Let’s look at the alternative. A retailer that retains its critical skills, and vital institutional knowledge, ensures continuity, productivity, and the ability to make informed decisions. This helps prevent knowledge gaps, process inefficiencies and an increased reliance on external vendors, which can ultimately undermine a retailer’s competitiveness.

By establishing centres of excellence or competency hubs, internal teams can develop deep expertise in core systems and processes, enabling them to troubleshoot issues, optimise performance, and drive continuous improvement.

Effective IP management also protects the organisation’s unique competitive advantages, prevents vendor lock-in, and ensures the long-term viability of the technology ecosystem. It ensures skills retention, business continuity, supports customer satisfaction and boosts employee morale, and, importantly, it protects the employer’s reputation.

Vendor lock-in

On the other hand, many retailers in South Africa are dependent on international vendors. Relying on international vendors to provide critical technology solutions and support can further compound many uniquely South African challenges that retailers face.

Unfavourable vendor dependencies can lead to significant business continuity issues, revenue losses, customer dissatisfaction and reputational damage, especially during high-volume periods such as Black Friday.

However, switching vendors when not self-enabled can turn into a costly affair which, in turn, locks organisations into suboptimal relationships.

The case for self-enablement

A retailer is self-enabled when it can take control of its technology ecosystem, reducing its reliance on external vendors. Retailers can achieve this by working with a self-enablement partner on a few, key strategies.

They should adopt open, modular architectures and develop in-house expertise and maintain control over core systems and processes.

A good self-enablement partner will help them negotiate vendor contracts that protect against excessive termination fees, price escalations, and other lock-in mechanisms. Importantly, they will be advised to diversify their vendor relationships which enables flexibility to transition to alternative providers without significant disruption to the organisation.

A self-enablement partner will ensure that retailers continuously invest in upskilling and retaining internal teams. This ensures the organisation has the necessary expertise in-house to manage the technology ecosystem and any future transitions.

This, by design, reduces a retailer’s reliance on external support.

In other words, the business maintains control over its technology stack.

Self-enablement, then, protects retailers from both suboptimal dependencies and the high switching costs and disruptions associated with switching between vendors.

The net effect of this is a retailer that’s able to take advantage of the rapid advancements in retail technology more effectively and efficiently.

These include advancements in areas such as cloud computing, edge computing, artificial intelligence, and the Internet of Things.

The result is improved agility, scalability and innovation as retailers adapt to changing customer behaviour, demands and market conditions.

Kashifu Inuwa, the NITDA director general, stated this while speaking as a panellist at the Africa Hyperscalers Digital Infrastructure Outlook 2025 where he gave deep insights on the Agency’s planned strategies in leveraging innovative solutions and regulations in actualising the Presidential 8-point agenda which cuts across all sector of the economy.

The Africa Hyperscalers Digital Infrastructure Outlook 2025 gathered industry experts from the tech ecosystem to examine and explore Africa’s role in the expanding global AI-driven infrastructure boom.

Speaking on the Agency’s regulatory framework which ensures adaptability in an ever-evolving technological landscape, Inuwa highlighted the NITDA’s two-pronged approach which are rule-based regulation and non-rule-based regulation.

According to him, rule-based regulation involves strict guidelines for industry compliance while non-rule-based regulation allows for industry-led innovation with established benchmarks.

“Before we regulate anything, we need to be aware of the landscape, we need to be intelligent, we need to have data and make sense out of that data, we need to be dynamic because technology is fast-changing and we need to develop that agility within the regulatory framework,” he noted.

The DG also noted that one of the Agency’s key initiatives is the Cloud First Policy which was introduced in 2019 to discourage excessive reliance on physical data centres.

He stated that the policy encourages government Agencies and private businesses to leverage cloud computing, software-as-a-service (SaaS) and other digital solutions.

He also mentioned that while the strategy initially granted waivers for businesses to use public cloud infrastructure, NITDA has since pushed for local data centres to scale up their capabilities.

Speaking on the agency’s achievements, Inuwa said that a major milestone in NITDA’s journey was its successful engagement with global hyperscaler providers and with Google Cloud pledging to collaborate with local data centres to drive cloud adoption and establish a hyperscaler data centre in Nigeria.

“The Google CEO, Sundar Pichai, met our president, President Bola Ahmed Tinubu in Paris and the president shared his transformative ambition for Nigeria. The president said that he believes technology can help him to achieve all the 8-point agenda from economic diversification, national security, food security, and infrastructures which include digital infrastructures with a focus on education and healthcare because technology can enable all of them,” he said.

He added that to further drive cloud adoption and investment, NITDA is finalising a framework that will mandate the classification of data, ensuring that certain categories of data remain within Nigeria. According to him, this move is expected to attract more cloud service providers and strengthen the country’s digital sovereignty.

While emphasising that Africa’s focus should be on AI applications rather than building Large Language Models (LLMs), Inuwa disclosed that NITDA is also prioritising the application of AI to enhance governance, regulation, and service delivery.

Inuwa asserted that the agency has identified 3 areas in which AI can revolutionise governance and business operations by automating processes, enhancing regulatory efficiency and developing knowledge management systems.

“The real power of AI is in application, not in building large language models (LLMs). We should focus on deploying AI to sectors like healthcare, agriculture, and financial services, where it can make an immediate impact,” Inuwa averred.

In her earlier opening remark, Dr Nadu Denloye, co-founder of Telnet Nigeria Limited said that Africa is on the cusp of a remarkable digital transformation, driven by advancements in connectivity, cloud adoption, data centres, artificial intelligence, and a growing digital-native population.

Describing the programme as a platform for solutions, she expressed confidence that the programme would craft solutions that will provide crucial insights and actionable strategies to drive Africa’s digital growth,

“Africa’s digital revolution is unfolding at an unprecedented pace. By leveraging our collective expertise and fostering collaboration among key stakeholders, we can overcome obstacles and unlock the immense opportunities that lie ahead,” she stated.

Other panelists present at the event were the CEO Open Access Data Centres and the Chairman of the Africa Data Centres Association Dr. Ayaotunde Coker, Chief Executive Officer, Kasi Cloud, Johnson AgboGbua, Data Centres Global Sector Lead, International Finance Corporation, Mr Obinna Isiadinso, Chief Operating Officer, IHS, Kazeem Oladepo, and the Commercial Director, Bayobab, Mrs Abibat Kazeem.

However, there’s a crucial factor that’s frequently overlooked: the technology window. This concept is so central to entrepreneurial success that it’s astonishing it’s not taught in business schools.

Every technology emerges with a limited window of opportunity, a brief period where the conditions are ideal for building a successful company around it.

This window is constantly shifting, and those who fail to grasp it are doomed to languish in obscurity. The technology window is the key to recognizing opportunities, seizing the moment, and building something truly remarkable.

Consider the railroad industry, which experienced a brief window of opportunity in the mid-19th century. Those who capitalized on this window reaped enormous rewards, but those who attempted to enter the market after this window had closed were crushed by the incumbent powers.

The same pattern holds true for the automobile industry, where the window for the internal combustion engine was open from around 1899 to 1925.

Understanding the technology window is crucial for entrepreneurs. It’s the key to recognizing where you are in the technological cycle and seizing the opportunities that arise.

The lifecycle of a technology window is predictable: a new technology emerges, hobbyists play with it, and then the “status moment” arrives, where one of these hobbyists turns the new tech into wealth and status.

At this point, competition floods in, management improves, and defensibilities like network effects or economies of scale are established. The technology window begins to close, and only about 10% of it remains open. The margins shrink, competition intensifies, and the cost of acquiring customers skyrockets.

This pattern plays out in every industry, every technology, and across every geography. The details may vary, but the closure of these windows is inevitable—and it’s predictable. When great technological shifts occur, enormous opportunities arise. Big changes lead to big opportunities.

In times of slow technological progress, the reverse is true: everyone knows the game, and the opportunity for disruptive breakthroughs diminishes. It becomes about small, incremental improvements. And it’s not just startups that are governed by these windows. You see this pattern with artists, musicians, and even asset classes.

Look at the birth of cryptocurrencies in 2008—an entirely new asset class emerged, following the same pattern of explosive early growth, then gradual closure as competition increased and inefficiencies were eliminated. The venture capital world is no different.

You might think venture capital has maintained its alpha, but that’s because the inefficiencies of the space haven’t been fully ironed out yet.

Eventually, though, even the returns from venture capital will diminish, just like in every other industry. So, what technology window are you playing in? Let’s use B2B software as an example.

Over the past few decades, we’ve seen three major windows in this space: on-premise, SaaS, and now AI.

We’re currently eight years into the AI window, and there’s still a massive opportunity here. But you must recognize where you stand—not just in the broad AI window, but in specific sub-windows or even sub-sub-windows. For example, with over a million B2B SaaS sales people already out there, trying to sell into this market is exponentially harder than it was a decade ago.

Your best shot, then, is to ride a technology window in its early phases. That’s where the magic happens. But what’s also critical is recognizing where you fit into the lifecycle of these windows. The personalities that succeed during the open phase—creative dreamers and hobbyists—are not the same as the hard-nosed spreadsheet analysts who thrive in the closed phase.

This brings us to an important distinction: we’re not talking about business cycles here. Business cycles are largely psychological—driven by exuberance and fear, interest rates, and macroeconomic trends. They are not where the real action is for founders. The real action is in these technology windows.

While you can build companies without riding technological waves—Starbucks is a good example, relying on branding and packaging rather than technological innovation—the largest companies are nearly always built on the back of new technologies. Why? Because when new technologies disrupt entire industries, the potential energy for creating enormous value is vastly higher.

That’s where the best opportunities lie. So, ask yourself: what technology window are you jumping into? For many founders right now, AI is the obvious choice. It’s still fresh, but the competition is fierce. It’s phase 4 of the AI window, and it’s moving fast. The stakes are high, and the incumbents are circling.

Yet, despite all the hype, there are still many open windows in AI. Whether it’s AI-driven robotics, AI for SMBs, or AI-powered fintech, the potential remains vast. But the window is closing, as it always does. And once it’s closed, the landscape will look very different.

The key to building something big is recognizing these windows, seizing the moment, and having the self-awareness to know where you fit in the life cycle. If you miss the window, your opportunity shrinks. But if you catch it, the possibilities are endless.

About the writer:

Sixtus Njoku is the head of Velara, where he is leading the charge in developing large foundational models optimized for intelligence. With a deep passion for innovation, Sixtus has also worked as a consultant for prominent blockchain fintech companies like BoundlessPay.  Holding an MSc in Information Systems Management from the University of Bedfordshire, Sixtus’s expertise has earned him recognition as a panel judge for prestigious awards such as the Stevie Awards and Globee Awards.

The Software as a Service is an interesting technological advancement that allows third-party providers to distribute software applications to customers over the internet.

This has purged the advent of amazing software applications such as Hubspot, Zoom, Google Workspace, Marketo, etc leading to an accentuation of the Industry and its munificent impact on tech enthusiasts.

The Software as a Service industry in Africa is set to go above waters with emerging tech experts exploring the industry and leveraging on trends to offer solution-oriented schemes for businesses.

The industry’s growth is influenced by a myriad of factors including drastic digital transformation, made possible by tech founders and supportive government policies poised to transcend technology on to greater heights through investment and infrastructure.

Businesses in Africa are at the receiving end of the benevolence SaaS offers. Because SaaS majorly hosts applications over the cloud, it has led to the increase of efficiency for companies as it lowers IT cost and also improves the service of their staff, granting them the opportunity to glean tech-based knowledge and technical know-how of technological products in trend. It surely shouldn’t be surprising why SaaS is on the rise in Africa.

Below are several reasons why:

1. Digital Transformation:

The world has witnessed a trajectory from traditional hacks down to full blown era of digitalisation, which of course doesn’t exclude africans. African business owners are rapidly moving with time and trends by integrating their businesses to suit digital inclinations such as the SaaS.

This digital transformation through SaaS and its offering of flexible and scalable applications builds up the zeal for businesses to thrive beyond limits.

2. Government Support:

The support of the government gives reason to SaaS continually leaping to an all end high. To improve and bolster technology, African governments are committed to implementing policies instrumental to the growth of digitalisation, given that its prospects are favourable and highly beneficial.

This can be easily traced with the latest efforts from Nigeria’s National Information Technology Development Agency (NITDA) promoting and canvassing for SaaS’ adoption being a part of the economy’s policy.

3. Investment in Tech Infrastructure:

Tech Infrastructure basically pegs the investment of tech bodies and government towards technology equipment; internet development and provision of powered networks for mobile connectivity such that it becomes easily accessible by many.

These infrastructure, therefore encourage business owners to adopt applications distributed by Saas.

With over 600 million mobile subscribers in Africa, the continent boasts one of the highest mobile penetration rates globally; more proof of the engagement and proliferation Saas introduced into the picture.

SaaS’ Advantages for African Businesses

It’s in no doubt that African businesses have been major benefactors of SaaS and its applications.

However, it’s important to understand key features that software developers and tech founders weave into the creation of software applications enabling numerous benefits enjoyed by business owners.

Some of Saas’ advantages includes:

1. Scalability and Flexibility:

By scalability, it means that SaaS and her applications are designed to adapt to changes seamlessly without thrusting difficulties for its users.

This is crucial for businesses in Africa because of the tremendous fluctuations in her economies. These platforms can be tweaked to inculcate new developments from individual businesses without interrupting already existing settings.

2. Cost Efficiency:

Instead of an outright purchase of a software that might dwindle the financial strength of businesses, SaaS as a distribution model allows users to typically pay a recurring subscription fee, which can be monthly or annually, inadvertently minimising cost for business owners.

SaaS being the service providers for the subscribed applications also handle the maintenance, upgrade and security of the applications as payments are all integrated into the subscription package.

This is clear proof that with SaaS, you don’t need to break the bank before you access advanced technologies beneficial to your bidding.

3. Accessibility and Mobility:

The penetration rates of the internet and mobile network have grown overwhelmingly. This lays the foundation for SaaS as its applications can now be accessed anywhere and almost everywhere, even in remote places with low IT staples.

With high mobile penetration, SaaS solutions can be accessed anytime, anywhere, facilitating remote work and business continuity.

4. Security and Compliance:

Tech inventors and service providers design software applications with security measures that protects the application’s data from being easily hacked or invaded.

This is in consonance with modern tech international standards, ensuring that African businesses can protect sensitive data and meet regulatory requirements.

Interestingly, tech experts have projected that in 2030, the SaaS market in Africa would have witnessed explosive growth, harnessing a full charge of technology and its usable software applications.

This, however, doesn’t reduce the present beam SaaS has mounted on Africa’s tech terrain as drivers of this proliferation peeks into reality. These include Increased Internet Penetration, Emergence of Tech startups (hub), and Sector-specific solutions.

Mobile networks have gained advancement spreading across its reach to wider regions, in turn enabling wider adoption of SaaS.

Also, most African countries like Nigeria, South Africa, Kenya, and Egypt have her citizens throwing into the tech pool where most operations are streamlined with technological tools.

This improves the tech ecosystem for these countries, thus encouraging SaaS providers to position companies there that will attract both local and international interests. More interesting is how SaaS caters for specific sectors.

Tailoring software applications to deal with the needs of specific sectors; agriculture, health care, education, finance/banking, etc.

This spector-specific approach would serve ultimately as a springboard to SaaS’ growth in a few years to come as rightly projected.

Despite the glossy prospects of SaaS in Africa, there are concerns surrounding its operations that should be addressed. These challenges include:

1. Data Infrastructure: Mobile networks are present, yes, but its stability is usually a truncated wish. Mobile data is needed to run SaaS applications, interrupted data flow might lead to a slow functionality of the applications. Efforts should be geared to getting secured data networks across the continent to improve overall operations.
2. Regulatory Environment: Lots of people are prowling into SaaS and its services. This indicates both a positive and negative sign; people who are getting digitally aware and involved at the same time might get too comfortable with these applications and misuse its function to achieve malicious intentions. SaaS providers must therefore set a strict regulatory framework that guides the utilization of these applications, ensuring that users comply with both local and international data protection laws.
3. Talent Development: While there are innumerable users of SaaS, there are only a few software developers themselves in Africa. This is pitiful as major tech experts have limited knowledge of software creation, rather they only know how to use these applications and make the most out of it. There’s a need for skilled professionals to develop, deploy and manage SaaS solutions, hence the tech community in Africa should deliberately empower young tech enthusiasts who are willing to broaden their tech horizons with educational exposure needed to throw beneficial insights towards building technologies that would better and even surpass the invention of SaaS.

Conclusion

Software as a Service(SaaS) has evolved prominently as an industry in Africa ushering significant technological shifts and redirecting the productive ends of numerous businesses.

Businesses should fail not to enhance their services by leveraging the scalability, cost-efficiency, and accessibility of SaaS solutions.

Applications provided by Saas offer an array of advantages that can be strategically hijacked to drive innovative growth and achieve adequate standing amongst other tech giants.

SaaS holds a bright future for tech in Africa as its impact is bent on transforming the lives and economies of nations through innovative technological inputs that can compete among its counterparts a global landscape.

*The writer:

Hilary Utuke is the CEO of Korlod Works, a top Digital Marketing firm in Lagos. He’s authored four books including “Digital Strategies for Online Brand Visibility” and created Digital Luminary Pro (TM), a model helping Nigerian Thought Leaders connect with Millenials and GenZ audiences.

In 2023, the software as a service (SaaS) market was estimated at $197 billion and is expected, according to Statista, to reach $232 billion by the end of 2024.

No longer a buzzword or the hype flavour of the month, SaaS has proven itself an invaluable solution for mid-market organisations looking for scale, cost-efficiency and flexibility.

From a company that’s managing a complex architecture with digital twins in manufacturing and building management, to a small insurance company, SaaS allows for organisations of all sizes to bypass traditional capital investment while still benefitting from next-generation technology.

SaaS provides hardware and software on a flexible subscription or consumption model leveraging the ubiquity of cloud.

It can be on-premises, hybrid, public, or multi-cloud in its implementation and integration, and the services on offer can range from software through to infrastructure through to everything as a service (XaaS).

Mid-market companies can benefit from the move away from a capital investment into a more flexible model that allows them to spend according to demand and gives them more control over costs, customisation and scale.

However, moving into the cloud can feel overwhelming if you don’t have the benefit of an in-house CIO or IT team. Smaller to medium organisations are often left wondering how you can maximise the value and benefits of cloud without having to wade through acres of tech complexity.

How you can benefit from the model without moving everything into the cloud. It can seem daunting amidst a sea of lingo, acronyms and constant change – the technology industry is perhaps the most innovative and rapidly evolving in history.

To mitigate this sense of overwhelm, you can gain the benefits of the cloud without having to undertake a comprehensive transition into that environment.

There is storage as a service, disaster recovery as a service, backup as a service – these variations are among the many that allow for mid-market companies to step into an as a service environment at your own pace.

You can adopt on demand, enjoying the benefits of the ongoing support, maintenance and management in bite-sized chunks that allow you to get a handle on the impact SaaS has on the business and your bottom line.

This also touches on two of the biggest benefits that emerge from the as a service model – reduced admin and next generation service delivery.

Your service provider is responsible for ensuring that the services you use are up to date and running smoothly.

They need the in-house skillsets capable of handling any issues that arise from technology failure or loss of service – you don’t. You can effectively remove your business from the expensive and time-consuming skills race without losing ground to the competition.

Ticking these boxes, plus ensuring that security is embedded, that flexibility comes standard, and allowing you to customise your as a service use cases according to your needs, means that you get all the benefits with very few of the stressors that traditionally come with implementing next-generation technology.

The bottom line is that your service provider can take any hardware – a laptop, a printer, a mobile device – and transform it into an information and technology hub capable of running a business from anywhere.

The initial CAPEX layout made by your organisation is then supported by the company that handles your as a service needs – they provide the skills, security and the maintenance; you sign a contract for a length of time that suits your risk factors and requirements.

Flexibility to this extent allows for mid-market companies to opt into a portfolio that gives them more control over their critical workloads and systems.

Whether you opt into using the cloud for backup and compute, or you mix your services up across on-premises or cloud-based solutions, you can deftly manage your critical applications and your expenditure.

The only question that really needs the perfect answer within the as a service context is the company you choose to work with. Your service provider must have the skills, the track record, the portfolio and the expertise to ensure your experience and your services align with your strategy and objectives.

This is the BCX journey, we offer you a trusted and proven partnership that allows you to explore the full potential of SaaS within your needs and without unnecessary risk.

This call is a strategic measure to combat the adverse effects of forex volatility and reduce the strain on the demand for foreign exchange in Nigeria.

According to Okeleji,

“With the unpredictable nature of the forex markets, it is imperative for organizations to start looking for how to explore innovative and cost-efficient solutions in their operations. Investing in local SaaS tools offers a more sustainable alternative, allowing businesses to mitigate the impact of forex volatility on their bottom line”.

Okeleji’s comments come in the wake of the Central Bank of Nigeria’s (CBN) recent decision to raise the Monetary Policy Rate (MPR), the benchmark for the interest rate in the country to an all-time high of 22.75% in its first MPC meeting of 2024.

Additionally, the apex bank increased the cash reserve ratio (CRR) to 45% and the  Liquidity Ratio retained at 30%.

These measures are expected to have far-reaching implications, one of which is higher borrowing costs for businesses, which is detrimental to many organizations.

Positioning the adoption of local SaaS as a pivotal strategy, Okeleji underscored the importance of operational efficiency in navigating the complex economic landscape.

“In 2024, the keywords for businesses are Operational Efficiency and Cost Control. How we can improve the quality of our services while reducing our operational costs. Any business that does not approach its operations with this mentality will be vulnerable to the unpredictability of the market,” he said.

SeamlessHR, under Okeleji’s leadership, has been at the forefront of advocating for technological innovation and efficiency in the African business landscape.

The company recently announced the successful processing of a staggering  ₦500bn worth of payroll for various African businesses throughout the year 2023.

More about SeamlessHR

• SeamlessHR is Africa’s leading payroll and HR technology company, focused on helping businesses manage their entire HR and Payroll lifecycle from hire to retirement, with cutting-edge technology solutions.
• With nearly 1,000 medium to large enterprises across over 20 countries, the company has offices in Nigeria, Ghana, and Kenya and recently commenced operations in Botswana.
• The company recently raised $ 10 million in a Series A round of funding to double down on its impressive pan-African expansion and build a new embedded finance product.

The study further reveals that AI is driving faster and more accurate decisions, personalised offers, and instant access to support.

Francois Grobler, the chief of Decision Analytics at Experian Africa, has this to say;

“Today’s consumers have more options and less patience than ever before. In this highly competitive landscape, we believe that high-quality digital customer experience provides a competitive advantage and our latest research explores how AI is turbocharging this process.”

The research shows that AI and Machine Learning (ML) can significantly improve the accuracy of models used to assess creditworthiness and affordability.

This improvement leads to more inclusive lending and more personalised terms based on a better understanding of behavioural insight into financial circumstances.

Grobler adds,

“Our AI-powered solutions are not only helping businesses make faster and more accurate decisions but also enhancing fraud detection. We’re seeing great strides in identity verification, virtual assistance, automated onboarding, and early warning systems for vulnerable customers.”

Experian’s research indicates that the top two customer onboarding priorities for 75% of senior leaders are investing in new data sources to better understand risk and affordability, and implementing a fully digital customer experience.

“Access to data alone is not enough to improve creditworthiness and risk assessment. Having the right AI tools to analyse this data and turn it into actionable insight is a critical next step,” he adds.

The crucial role of cloud technology in unlocking AI potential

As many Financial Services and Telcos look to improve the accuracy of their credit risk and fraud models through the adoption of AI, cloud has become an essential enabler of this process.

The performance uplift provided by AI is dependent on the ability to link and collate data from multiple sources in a fast and secure way.

Cloud makes it easier to connect data feeds, allowing different internal departments to safely work with data from a variety of sources.

Grobler explains that cloud provides the computing capacity required to ingest and manage the high volume of data that is needed for AI and ML.

It provides the flexibility and scalability to enable the software capabilities needed to develop, deploy, and operate models, which ultimately integrates AI into the credit decisioning process.

According to the research, investing in Software-as-a-Service (SaaS) and cloud technology is a top priority for nearly 4 out of 5 senior decision-makers (79%).

This is unsurprising in light of the benefits that cloud provides – such as improved security, faster processing power, reduced maintenance costs and the elastic flexibility to scale as required.

AI is undoubtedly enhancing our ability to assess creditworthiness and prevent fraud. But taking advantage of the improved accuracy that AI models deliver requires a solid cloud foundation from both an infrastructure and software viewpoint.

“As the race to reduce risk and provide faster digital decisions is turbocharged by AI, the adoption of cloud becomes an essential stepping-stone in realising AI’s potential”, concludes Grobler.