Tight Budgets Fueling Demand for SaaS

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How are budgetary restrictions affecting IT?

Tight Budgets Fueling Demand for SaaS

For technology professionals who are looking to stay abreast of the latest trends in the IT career field, now more than ever there are many changes afoot. In fact, organizations are completely re-evaluating how they do business, from budgetary expenditures to production processes, to revenue stream expectations. In an effort to find new, cheaper and more effective alternatives, companies are turning to IT departments to help find ways to support these goals. Recent studies by a number of sources have found that for many, the answer to meeting these objectives is an increased reliance on managed services and software-as-a-service (SaaS) solutions. Research from analyst company, Gartner, predicts that the SaaS market will show consistent growth through 2013 with worldwide SaaS revenue totaling out at $16 billion for the enterprise application markets. The adoption rate has found to be particularly high in small to midsized businesses.

Budget cutbacks and tight funding restrictions were found to be the key factor to the widespread acceptance. Another compelling cause has been the growing concern of companies dealing with more stringent compliance requirements and software-license regulatory issues.

   

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