Our second annual SaaS buying trends report, sharing what we’ve learned from saving our customers over $240M in SaaS spend — and what we anticipate 2023 will bring.
A year of turbulence and transformation
Two years after COVID’s arrival, we’re settling into the “new normal.” The shift toward remote work in 2020 is now the preference for many people. Remote and hybrid work is here to stay, so HR and IT teams have been busy making it happen. Digital transformation, once a long-term objective, is now a top priority.
The global economic outlook continues to change rapidly, even after the pandemic phase of COVID. Organizations finding their footing after stay-at-home orders and efforts to grow post-pandemic are now preparing for a new challenge: a looming recession. They’re down-shifting from growth mode into cash preservation, resulting in more changes for SaaS buying.
In our latest Trend Report, our SaaS buying experts highlight the changes shaping 2022, and offer their views on what it might mean for 2023. Read on for:
- A recap of spending and deal flow 2022 YTD
- Highlights of the changing landscape of SaaS buying
- Our predictions for software buying over the coming year
Looking back, to look forward
- Part of our mission at Vendr is to help companies save money on SaaS. With the help of data insights, expert buying advice, and negotiation assistance, our customers saved an average of 20% on their SaaS spending in 2022.
- Our annual growth numbers reflect our commitment to helping teams build strong tech stacks.
The broader SaaS industry has seen record-breaking growth since Q2 2021. According to research from Gartner:
- Market indicators point to a 3% annual growth of IT spending, even considering economic factors like inflation, housing, and market fluctuations.
- Software spend is growing much faster. Worldwide software spend is forecast to grow 9.6% in 2022 to total $806 billion, up from to $735 billion in 2021. That’s expected to grow another 11.8% to reach $902 billion in 2023.
To read full download the whitepaper:
2022 trends in SaaS buying
