The technology purchase process is becoming more complex, judging by a new study from Foundry, titled Role & Influence of the Technology Decision-Maker 2023.
Of the IT decision makers surveyed, 61% agree that process is becoming more complex. And 66% of those in enterprise firms — those with more than 1,000 employees — concur.
In addition, the purchasing process is taking longer: from 4.9 months in 2019 and 6.2 months in 2022 to 6.5 months in 2023. And the average buying team is comprised of 25 people, versus 21 in 2019 and 16 in 2017, with line-of-business executives serving in greater numbers, especially in enterprise organizations.
But they are spending anyway: 57% of the biggest firms expect an IT budget increase, as do 44% of the smallest ones.
Spending choices will be affected by both internal and external events.
Email serves as an information source for most generations, but none more than Gen Z.
The study reveals these information preferences:
Gen X 1965-1980
Gen Z (1997-2010)
Foundry surveyed 846 IT decision makers.