Sage Making Further Progress Toward the Cloud

The emergence of cloud-based software in the early 2000s, along with the proliferation of smartphones and tablets and the emergence of software-as-a-service, or SaaS, business models, revolutionized the global software market. Established software providers, such as Sage Group, which historically sold on-premises software via perpetual software licences, experienced an increase in competition and disruption of established business models. The small and medium enterprise, or SME, accounting software market experienced numerous new cloud-native SaaS providers, such as Xero, which have rapidly grown and won market share from incumbent providers.