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 Tech Services Stats

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

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

orecasts suggest that global blockchain technology revenues will experience massive growth in the coming years, with the market expected to climb to over 23.3 billion U.S. dollars in size by 2023.

SAAS companies need to track the number of visitors, trials and closed deals; And also track the conversion rates, with the goal of improving those over time

83% of China’s digital shoppers made an online purchase in the past month

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

The median annual unit churn for SAAS companies was 10% in 2016

The median average contract length is 1.3 years and the average billing term is seven months in advance in 2016. Comparable to 2015, with average contract length shortening from 1.5 to 1.3 years and average billing period increasing by one month from 2015 to 7 months

The average SaaS business generates 16% of its new Annual Contract Value (ACV) from upselling to existing customers

If the numerator of your quick ratio is growing that means your revenue is growing. It’s important to keep increasing revenue to counter any MRR (Monthly Recurring Revenue) that is lost to churn