The software-as-a-service (SaaS) business model has become dominant over the past five years. It has made life easier for companies and employees, and produced enormous wealth for shareholders. Nowhere is that more obvious than in the results of Bill.
Because the software often becomes integral to the operations of organizations that use it, customers are likely to stick with the providers they sign with, and expand their business with them over time. Three top SaaS stocks that investors should consider today are Shopify (NYSE: SHOP), Procore (NYSE: PCOR), and Twilio (NYSE: TWLO).
Online sellers growing weary of Amazon's limitations -- and competition -- are finding other means of selling their wares. Many are turning to an outfit called Shopify (NYSE: SHOP), which provides a variety of online-selling services to over 1.7 million businesses. The thing is, Shopify is still just getting started.