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.

Statista

More Tech Services Stats

The median cost for a SaaS company to acquire a dollar of new customer revenue is $1.18

Net-revenue churn improves with larger Average Contract Value (ACV), likely due to more structural churn among SMB customers and higher switching costs associated with larger contracts

86% of SaaS businesses treat “New Customer Acquisition” as their highest growth priority, both in terms of executive support and funding available

If your Net Revenue Churn is high (above 2% per month) it is an indicator that there is something wrong in your business; this will become a major drag on growth

Increases in revenue growth rates drive twice as much market-capitalisation gain as margin improvements for companies with less than $4 billion in revenues

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

The statistic shows the worldwide IT spending on enterprise software from 2009 to 2020.

80% of marketers report that their departments are understaffed, making them feel overloaded

Moving from $1.5 million with an eye towards $10 million in ARR is a tough a task and will take an excellent VP of sales to get you there

Google only has a 30 percent female workforce

More Growth Strategy Stats

Non-renewal rates are higher than gross dollar churn rates and higher for shorter duration contracts. Source: ForEntrepreneurs

Even if a software company is growing at 60% annually, its chances of becoming a multibillion-dollar giant are no better than 50/50

If your Net Revenue Churn is high (above 2% per month) it is an indicator that there is something wrong in your business

in 2016, women-led companies received $1.46 billion in investments from venture capitalists. Male-led companies, on the other hand, received $58.2 billion

Non-renewal rates are higher than gross dollar churn rates and higher for shorter duration contracts

The best SaaS companies achieve 5-7% annual revenue churn – equivalent to a loss of $1 out of every $200 each month

SaaS IPOs have more than doubled over the last 12 years

Companies that spend more on sales and marketing (as a % of revenue) generally grew at a faster rate than those that spent less

Revenue Churn Rate = (RCR) (MRR at beginning of month – MRR at end of month) – MRR in upgrades during month / MRR at beginning of month

Google only has a 30 percent female workforce