Posted on

SaaS is still open for business, but it’s going to take longer to buy and sell


Ryan Neu

Ryan Neu is the founder and CEO of Vendr, a SaaS purchase platform. Previously, he was a B2B SaaS sales leader at both InVision and HubSpot.

More posts by this contributor

Surviving the SaaS tsunami: Optimize your tech stack to reduce risk and free up cash flow

The “Great Restructuring” continues and tracked 80,000 lost jobs in tech in January 2023. This brings the total to well over 230,000 from more than 1,000 companies since 2022. Yet, despite all the negative headlines, the SaaS market continues to see steady growth. Gartner predicts software spending will increase by 11.3% this year, but my company’s internal data leads me to be slightly more bullish.
The fourth quarter of 2022 and the first quarter of 2023 show steady increases in both spending and requests for new purchases. We analyzed more than $2.5B in SaaS spending from 18,000 deals across 2,500 suppliers and anticipate that SaaS spending will increase 18% this year.
Yet while software spending continues to grow, buyers and sellers face immense challenges dealing with the impact that layoffs and underlying economic uncertainty will have on the software market.
The bottom line? In 2023, SaaS is still open for business, it’s just going to take longer to buy and sell.
A flat renewal is the new “upsell”
One of the most direct and immediate impacts of …

Read More