When companies weigh IT purchases, improving efficiency, productivity and profitability are the top priorities, according to a recent report by Forrester that surveyed 2,000 technology buyers at high-tech companies. Keeping the business running, revenue growth, and customer experience were the following considerations on the list.
According to the survey, vendors’ technical expertise and reputation can impact buying decisions, price, and ability of a product or service to meet enterprise needs.
Technology buyers typically prefer to consult sources other than vendors, including technology websites, online forums, and business consultants, to inform purchasing decisions, the report said.
And let’s also add a Snow Software survey. A ranked list of priorities for leaders in 2023 shows that the No. 1 directive next year will be to reduce costs. According to the report, lower security risks and digital transformation are the second and third priorities.
Driving innovation for competitive advantage dropped in importance in 2023, down to the No. 8 spot from No. 5 this year.
Why do we care?
There’s a bit of me that says none of this is surprising at all. That’s a bit comforting during the holiday season. It’s not that difficult to predict customer needs. That’s not to say it’s easy. That said, for as much as the industry spends time navel-gazing, the basics are pretty reliable.