Top 15+ Software Companies in Cleveland

As of 2023, the top 5 software companies in the world are as follows.

1. Microsoft

As the manufacturer of the operating system “Windows” that powers nearly one billion computers worldwide and the most popular productivity software “Microsoft Office”, Microsoft is the leader of the software industry with its revenue of 168.1 billion dollars in 2021. Founded in 1975 by founders Paul Allen and Bill Gates in Albuquerque, New Mexico's largest city, the company is now headquartered in the small town of Redmond, Washington.

1. Oracle

The American company Oracle, which is the second largest software company in the world with a worldwide revenue of 40.5 billion dollars last year, is a worldwide leader in Software as a Service (SaaS) as well as enterprise software. Oracle software is frequently used primarily in Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Capital Management (HCM), and Supply Chain Management (SCM) business areas. The company, headquartered in Silicon Valley, was founded in 1977 by Larry Ellison, Bob Miner, and Ed Oates.

1. SAP

SAP (Systems, Applications & Products), the largest software company in Europe and the only non-American company among the top 10 software companies in the world, ranks third on our list with its revenue of 32.3 billion dollars last year. The German company, which is the worldwide market leader with its Enterprise Resource Planning (ERP) software, provides its customers with Software as a Service (SaaS) as well as enterprise software. The company, currently headquartered in the town of Walldorf in the city of Baden-Württemberg, was founded in 1972 by five former IBM engineers.

1. IBM

Founded by Charles Ranlett Flint in 1911, IBM (International Business Machines) is the oldest software company still in existence, with a revenue of $23.4 billion in 2021. Headquartered in Armonk, New York City, the company is a global leader in the development of cloud and computing software.

1. Salesforce

Salesforce, which is the fifth largest software company in the world, is an American company founded in 1999 by four former Oracle executives. The company, which generated $17.1 billion in revenue last year, is headquartered in San Francisco. Salesforce is the world leader in Customer Relationship Management (CRM) software.

Software companies such as Adobe, Fiserv, ADP, Dell Technologies, and Broadcom come after the companies we have mentioned.

Here are some of the best services offered by a software company:

• Custom Application Development

Businesses that want to offer certain solutions to a certain market segment generally prefer custom development. It involves a comprehensive process for software companies to identify the need, develop software, perform tests and bring it to market.

• Mobile Application Development

The area that software companies serve the most is developing mobile applications for both iOS and Android devices.

• Enterprise Applications

Businesses need systems and portals for internal operations management. Enterprise applications include CRM systems, ERP systems, content management systems, and others. These systems keep the business running smoothly.

• Digital Transformation

Known as software companies providing modern technology solutions to businesses, digital transformation services include Artificial Intelligence and Machine Learning solutions, Robotic Process Automation (RPA), Cloud Computing, Augmented & Virtual Reality, and the Internet of Things. These technologies provide efficiency and help businesses stay up to date.

• IT Consulting Services

Software companies provide IT consulting to businesses to help the business achieve their goals through technical advice, support and maintenance, network systems and IT function management.

• Web Design and Development

Building a website is at the core of every software company. Web design includes UI/UX design for a website and software companies have excellent web development knowledge for different industries.

Software companies have many alternatives for making money, some of which are as follows:

• Product Sales

The main way software companies make money is by selling the software and applications they develop. For this, these companies have a certain path to follow and they can make good sales as long as the right steps are taken on this path. For this, they must first create a product that will benefit people. Then they need to start the sales process by putting the product in the right marketplace and on their website.

• Retention of Existing Customers

One of the primary goals of a software company is to provide the best service to meet customer expectations. This is achieved by delivering the work they receive on time and with the highest quality version. In this way, the company's customer impression is at a good level and customers continue to trust these companies in the following processes. Customers who are satisfied with the service they purchased are willing to pay the fee requested by the software company for their next project. For this reason, it is critical to provide the right service and protect the reputation of the company, not to lose existing customers, and to expand the customer network day by day.

In addition, if subscriber-based software is preferred rather than one-time software sales, existing customers will also be retained.

• Ads

We know that some of the biggest software companies such as Google and Facebook use ads as their primary source of income. But for customers, one of the most frustrating features a software or app can have is the advertisements it is exposed to. Therefore, software companies must establish a very good balance between the revenues they receive from advertisements and customer satisfaction. Many software companies, which do not want to risk losing customers by placing advertisements on the product they produce, prefer to stay away from this business model.

Here are the revenues of the biggest software companies from advertisements in recent years:

• GOOGLE (2021) - $31.88 billion
• AMAZON (2021) - $31.16 billion
• MICROSOFT (2021) - $8.53 billion
• YOUTUBE (2021) - $6.01 billion
• WITTER (2020) - $2.99 ​​billion
• ADOBE (2020) - $887 million

A good marketing strategy is very important for software companies as it is for every company. To find more customers, a software company needs to have a multiplatform approach supported by a talented team that can direct potential customers to their company and products.

The first thing a software company that wants to promote itself should do is to tell people about its brand and introduce it. One of the biggest mistakes made by today's technology companies is to bore the other party by using excessive technical jargon during communication. What needs to be done at this stage is to inform people about what your company offers businesses and how to make them better.

When it comes to marketing, one of the must-haves is of course social media. Investing in social media, in the long run, is critical. Many companies often delegate their social media responsibilities to inexperienced interns, so try to get ahead of them by working with an experienced and skilled communicator who can represent your brand effectively.

One of the most critical points is to use a consistent SEO strategy. As with social media marketing, a quick and simple effort will not be enough in SEO. Even if you don't get the results you want from your SEO efforts at first, don't give up right away. To get good results, you need consistent keyword research and shareable content that will strengthen your website by turning it into a knowledge hub and boosting rankings in search engines.

If you follow these steps correctly, there will be no obstacles in front of you to achieve successful results.

There are many reasons for this, but one of the most important reasons is that they do not have a specific strategy and vision. Lack of strategy is one of the biggest factors that doom a company to failure because it shows that the necessary steps are not taken to be successful. Other reasons software companies fail include poor marketing, insufficient funding, and a lack of customer base.

The amount you need to spend to start a software development business will vary depending on the type of company you want to create, the services you intend to offer, and where you plan to run the business. Start-up costs for software companies range from $30,000 to $150,000, depending on the business scale, when taking into account office space, computers, software and marketing materials, employee wages, and tax due on your income.

It is possible to say that software companies usually have an annual income or a value between 2 times their annual income.

If the company has stalled growth, has a small market share, and has legacy technology, it will likely be worth much less than its annual revenue. But if the company has the latest technologies, is growing rapidly, and has a large share of the market, then it can be worth more than twice its annual revenue. However, most software companies are probably worth between 1 and 2 times their annual revenue.

Some of the services of software companies fall under the service area of IT companies. However, the main difference between software companies and IT companies is that software companies produce, modify or maintain valuable products while IT companies have the task of creating, updating, or maintaining the IT infrastructure. IT companies are companies that make all systems, devices and software work together to help individuals complete tasks.

Software companies mainly develop, distribute and maintain software. IT companies encompass any job related to computer operation or development where software is a crucial part.

Business Analyst: Understands the customer's business processes and translates business needs into requirements.

Product Owner: Responsible for the vision and evolution of the product, the product owner ensures that a final product meets customer requirements.

Project Manager: The project manager, who manages and motivates the software development team, is responsible for delivering products on time and within budget.

UX/UI Designer: Transforms the product vision into user-friendly designs.

Software Architect: Designs a high-level software architecture. Selects appropriate tools and platforms to implement the product vision. Sets code quality standards and perform code reviews.

Software Developer: A software developer does the actual work and codes an application. Resolves technical issues that arise during development.

Software Testing Engineer: Ensures that an application is performing according to requirements.

Test Automation Engineer: Designs a test automation ecosystem. It also writes and maintains test scripts for automated testing.

DevOps Engineer: Facilitates collaboration by working between development and operations teams.

We can divide software companies into service-based companies and product-based companies.

• Service Based Companies

It works directly with businesses and provides them with services such as customized software development, consulting, or dedicated development teams.

• Product Based Companies

They are businesses that develop their own products and deliver them to end users. Microsoft and Google are two very good examples of product-based companies. Both offer a range of ready-made solutions that can be configured and customized to the specific needs of the company.