June 2023: Enterprise Application Spending Continues for the Foreseeable Future

June 2023: Enterprise Application Spending Continues for the Foreseeable Future

This IDC Market Perspective discusses how enterprise application spending continues even for the foreseeable future. The digital world is here and with it comes a new wave of enterprise application spending poised to create differentiating value for organizations of all sizes globally. This document brings forward some of IDC's recent Future Enterprise Resiliency and Spending Survey, Waves 2 and 3 data along with some data points from the recent IDC's May 2023 SaaSPath Survey. IDC's May 2023 SaaSPath Survey data looks at the mind and the journey of the SaaS buyer across 23 functional application markets, creating a valuable book of insights for each application area including ERP, SCM, finance, procurement, core HR, travel and expense management, asset life-cycle management/EAM, PSA, treasury management, tax, accounts payable, accounts receivable, subscription management, digital commerce, payroll, talent management, facility management, field service management, product information and experience management (PIM/PXM), CPQ, talent acquisition/recruitment, employee experience, and PLM/CAD."Despite the macroeconomic headwinds of inflation, labor shortages, and a recession, organizations continue to invest in enterprise applications to thrive in the digital world," noted Mickey North Rizza, group vice president, Enterprise Software at IDC. "There is much to be done by enterprise application providers educating the buyers on the usage, deployment, ecosystem, and innovation opportunities cloud solutions can bring to the organization. In addition, enterprise application providers would be wise to look at the value industry solutions provide."

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