In March and April 2020, TrustRadius, a software review site, received survey responses from 2,168 individuals providing insight into their company’s purchase intentions.
Here’s the April 2020 results which compare to the March 2020 responses: https://www.trustradius.com/vendor-blog/covid-19-tech-spending-data
The survey shows a opinion downturn for planned software spending. At the beginning of the COVID-19 impact in March 2020, 66% of respondents felt spending would be the same or higher. By April 2020, that had fallen to 51%.
The survey looks at the responses in a number of ways including categories of software, entity size and respondent job title. In terms of software categories, some of the hottest categories that have seen significant investment in the last five years are predicted to see a decline if the survey responses hold true.
Software spending in categories that provide some degree of support and utility with a remote workforce are likely to see higher planned spending, again, if the survey responses hold true.
There appears to be a correlation between the software categories that are believed to see increased spending and the work life impact of COVID-19 as seen below. The impact of remote work (#1) and the need for more productivity (#3) create a pressure and a need for software that improves aspects of both.
This falls in line with what we’re seeing at Epilogue. Some digital transformation projects have been delayed and some spending cuts have occurred but we’re seeing continued investment in digital adoption on in-flight projects and on deployed applications experiencing adoption issues.
Our digital adoption solution, Opus, is built for the demands of digital transformation initiatives as well as post go-live adoption issues with deployed applications.
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