Weekly Bulletin January 2012
Some good news as we all return to work in 2012 is that several sources are predicting a year of increased investment in software infrastructure. This of course is an opportunity for smaller software providers as budgets increase, coupled with customers' desires to be at the top of the tree with leading-edge technology.
A case in point is the Insurance sector with global software spend set to increase significantly in 2012, despite the effects of the financial crisis still being felt. Analysts Ovum stated that 47% of CIOs surveyed expected IT budgets to increase, building on the increase in spending which took place last year. Two thirds of those questioned mentioned investment in CRM systems, enhancing the need to understand customers better. Similarly, in the retail sector it's CRM and social networking integration that are of the highest importance although in larger firms it is increasingly Marketing departments who are developing these tools with less reliance on IT departments.
There appears to be a realisation amongst companies who are accepting that they require technical projects to make progress. Jason Maynard of Wells Fargo quotes that ‘businesses don't want to miss the social, mobile and cloud computing waves'. In a Society of Information Management survey from September last year, it was stated that cloud computing had moved up the list of technical priorities from number 5 to position 2, while mobile applications and CRM moved into the top five. Business intelligence and ERP remained at positions 1 and 3 respectively but with CRM jumping from position 13 comes the realisation that it's vital that good prospects can't be allowed to get away!
The opportunity for the smaller software supplier should not be underestimated with the acceptance of social, mobile and CRM solutions playing an ever greater role in the mind of the large customer and potential clients. In an advisory capacity I have helped many software firms to maximise opportunities in these areas, leading to increased turnover and profit for the companies concerned.
To find out more about how you can harness over 30 years' sales and marketing experience and enhance your business prospects for 2012, please contact me on 01536 771440 for a free no obligation discussion or visit my website www.terryforsey.com.
