I also wanted to look at IT budgets again – because of some insights from Protocol. Here’s the take – SaaS companies like Salesforce, UiPath, and Twilio have adjusted their guidance. Still, per the writer, demand for IT tools and technologies that can help enterprises with digital transformation hasn’t waned, as executives at ServiceNow, Atlassian, and SAP reveal.
Nearly 60% of tech leaders featured in Battery Ventures’ latest Cloud Software Spending Survey already spend more than $100 million on infrastructure, applications, and data. The majority plan to increase their tech budgets.
This is good news. Core business needs continue to be prioritized. Digital transformation promises to drive top-line revenue and thus will get investment. Referencing my Good-Better-Best analysis model, IT spending that drives top-line revenue is Best, and business owners will spend that money over and over.