Quote Info

The IT services market encompasses the range of services that assist individuals and enterprises in implementing, managing, and operating the wide variety of processes, systems, software, equipment, and peripherals that are used in the modern IT environment. Globally, the broader information technology market reached 3.65 trillion U.S. dollars in 2018, with IT services spending representing more than a quarter of the total market. In terms of IT market growth, services are advancing steadily, second only to enterprise software spending. Year on year, IT services spending is expected to increase at a rate of around 5.5 percent.


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More Growth Strategy Stats

A 2017 SaaS Capital survey showed that young companies actually have higher retention rates than more mature SaaS businesses

The average company gets 16% of new ACV sales from up-sells and expansions, though companies with revenue between $10MM-$40MM are relying more heavily on up-sell and expansions

The average company booking professional services revenue on new deals is equivalent to 16% of the first year subscription value. Professional services margins are approximately 22%

To generate a single dollar of new customer revenue, Field Sales strategies have an average Customer Acquisition Cost (CAC) of $1.14

Japanese company Hitachi accounted for three percent of the world’s market for diagnostic imaging in 2017.

Less than 20% of new revenue came from existing customers in the form of up-sell and expansion sales

It’s 9x cheaper to retain existing customers than acquire new customers: costing $0.13 to acquire any additional dollar of revenue

Getting paid in advance is really smart idea if you can do it without impacting bookings, as it can provide the cash flow that you need to cover your cash problem

The venture-backed companies that were acquired most often had a 7 percent share of female execs, as opposed to 3 percent at unsuccessful (unacquired) firms

Because of the losses in the early days, which get bigger the more successful the company is at acquiring customers, it is much harder for management and investors to figure out whether a SaaS business is financially viable.

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