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INTRODUCTION

Reffind Limited has been listed on Australian Securities Exchange as the issue code of RFN in July 2015. Reffind is Software as a service (SaaS) solutions provider with a prime focus on employee engagement and customer loyalty (About REFFIND, n.d.). The Global Industry Classification Standard places Reffind Limited in the industry of Software & Services (Follow this company Suspended, n.d.).  Reffind has set its strategic target on Cloud-Based SaaS solutions for corporations and their stakeholders. It enables corporations to communicate with their employees across the globe; they operate into two segments Reffind and WooBoard with the set of solutions being an employee referral program, employee survey solution and a peer-to-peer recognition platform. It also provided solutions in the form of short videos which are focused on onboarding, compliance and product training via their handheld devices. The corporation was established in 2014 and is based in Pyrmont NSW, Australia (Bloomberg, n.d.).

INDUSTRY ANALYSIS

Software Suppliers Industry has tremendously grown in the last decade, which is driven by growth in the usage of handheld devices and cloud computing in the organizations. Cloud computing has enabled the organizations to operate in a SaaS business model, where they would pay a certain fee for the software; it has boomed sales and eliminated all the concern of piracy (Software Suppliers - Australia Market Research Report, n.d.).  The consumer spending on cloud services in Australia will reach a new high this year an expected $4.6 billion, according to a Gartner forecast. It showed an increase of 18.5% since last year with a majority chunk of it spending on SaaS, It is the largest spending segment as well as the fastest growing segment with an increase of 24.4% this year alone with estimated spending of $2.6 Billion on SaaS (Computer World, n.d.). The organizations now demand that they are no longer dependent on legacy systems and can run operations smoothly on SaaS which is essential for any organization due to large amounts of financial saving and cost-cutting by expansion of the techno-ecosystem which is easy to operate, less training will be required, and will not require any special hardware or device to support the system. SaaS industry is booming due to cost saving in systems hardware, operational cost, maintaining a constant and consistent working process, easy collaborations, time efficient and doesn’t require training, it is supported on all devices, and it connects with other applications and saves the hurdle of upgrading and maintenance (Finances Online, n.d.).

RIVALRY AMONGST FIRMS

SaaS industry in Australia has many key players like Quantam Workplace Engagement, YouEarnedIt and Simble Solutions (Trust Radius, n.d.) . The growing industry has room for many organizations to fit in and as the industrial trend on converting to SaaS has allowed the techno companies to come up with innovation and customized solutions to sustain in the market. The company who will effectively promote their solutions, providing the latest and efficient technology and its proximity to key markets will eventually outgrow all its competitors. The large organizations have the majority market share which means that medium-sized organizations like Reffind will have to engage in competitive actions to create a positive hold in the market and attaining a market share in the process. The growing industry also points out the fact that competitors do not have to go for cost competitiveness and capturing an existing share of other organizations they can focus on the new demand which is being created in the market, this points out to a weak rivalry in the industry. The nature of the product is unique and the offerings with it come differently, the solutions comparison cannot be done due to the customization which also points out that the rivalry is weak. Product differentiation with a focus on the new demand can push the organization to capture market share as the current market scenario points towards a weak rivalry in the industry.

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