Share of spend for sales tools increased from 21% to 28% between Q1 and Q2, 2023, meaning that sales software now accounts for more than a quarter of total software spend in the average organization.
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Sales tools now account for over a
quarter of total SaaS spend
Share of spend for sales
software applications
increased from 21% to 28%
between Q1 and Q2 of 2023,
according to new data from
Vertice.
This means that the tools used by
sales teams now account for
more than a quarter of a
company’s total software spend,
far higher than any other type of
software.
While many organizations are becoming
increasingly selective about the tools they
subscribe to, the fact that share of spend for
sales software continues to rise signifies just
how important these tools are to companies
and that they remain focused on either
sustaining growth or scale.
While the increase in share of spend between
the first two quarters of 2023 has been
significant, it had already increased from 18%
to 21% between January and February,
further confirming the crucial role these tools
are playing in what is an incredibly
challenging time for many businesses.
Despite this, the utilization of
these sales software licenses
remains a huge challenge for
many, for the simple fact that
they have the lowest utilization
rates.
While utilization was marginally better
than in Q1, the fact these tools now
represent a far greater amount of an
organization's total SaaS spending
means that it could be contributing to
an even greater amount of wasted
spend.
Given that companies spend an average of
$9,000 on software for every sales employee,
which is almost double what is spent on
employees in other departments, and that
49% of these licenses are going unused, this
could represent as much as $4,410 of wasted
SaaS spend per employee, per year.
For a sales team of 100,
this is close to half a million
dollars in wasted software
licenses.
Vertice exists to tackle this
problem, by not only providing
organizations with complete
oversight of their software spend,
but also visibility into how these
tools are being used across the
organization.
Combined with extensive
vendor pricing intelligence,
Vertice can deliver maximum
savings across all software
contracts.
Find Out More At
https://www.vertice.o
ne/
quarter of total SaaS spend
Share of spend for sales
software applications
increased from 21% to 28%
between Q1 and Q2 of 2023,
according to new data from
Vertice.
This means that the tools used by
sales teams now account for
more than a quarter of a
company’s total software spend,
far higher than any other type of
software.
While many organizations are becoming
increasingly selective about the tools they
subscribe to, the fact that share of spend for
sales software continues to rise signifies just
how important these tools are to companies
and that they remain focused on either
sustaining growth or scale.
While the increase in share of spend between
the first two quarters of 2023 has been
significant, it had already increased from 18%
to 21% between January and February,
further confirming the crucial role these tools
are playing in what is an incredibly
challenging time for many businesses.
Despite this, the utilization of
these sales software licenses
remains a huge challenge for
many, for the simple fact that
they have the lowest utilization
rates.
While utilization was marginally better
than in Q1, the fact these tools now
represent a far greater amount of an
organization's total SaaS spending
means that it could be contributing to
an even greater amount of wasted
spend.
Given that companies spend an average of
$9,000 on software for every sales employee,
which is almost double what is spent on
employees in other departments, and that
49% of these licenses are going unused, this
could represent as much as $4,410 of wasted
SaaS spend per employee, per year.
For a sales team of 100,
this is close to half a million
dollars in wasted software
licenses.
Vertice exists to tackle this
problem, by not only providing
organizations with complete
oversight of their software spend,
but also visibility into how these
tools are being used across the
organization.
Combined with extensive
vendor pricing intelligence,
Vertice can deliver maximum
savings across all software
contracts.
Find Out More At
https://www.vertice.o
ne/