Futurum Intelligence reveals that the biggest hurdles in acquiring enterprise software include a lack of consensus on desired outcomes (23%), an inability by the vendor to instil confidence it can meet customer needs (20%), and challenges around pricing and terms negotiations (18%).
“Vendors are adding new capabilities to their software applications on an accelerated cycle, including generative AI-based functions, advanced automations, and new integrations with third-party applications and data sources,” said Keith Kirkpatrick, research director, Enterprise Applications at The Futurum Group, who authored the study. “Through our research with the enterprise buying community, there are friction points that are creating hurdles to a smooth purchasing process that can be addressed by both vendors and customers.”
Multifaceted approach
To achieve internal consensus around enterprise software’s desired outcomes, the survey on 895 IT decision-makers urges CIOs and senior leadership to align on the software’s key strategic goals and objectives. Tech leaders can also solicit input from managers and end users.
The report also underscored the importance of creativity and flexibility to drive customers to alternative pricing models, including add-on SKUs, consumption-based plans, and outcomes-based pricing for enterprise software.
