Arlington, VA — Capterra, an online service that connects buyers and sellers of business software, today released a new survey revealing 2013 purchasing trends in the B2B software industry. The study surveyed 400 business professionals across a variety of industries, all of whom have bought software within the past two years, to uncover where they turn for software information, how long it typically takes businesses to find software, and whether they were ultimately happy with their software selection.
According to the report:
- Software is selected in groups: 2/3 of software purchases include three or more people. 40% of them include the CEO or President, and 55% involve IT Personnel. Additionally, 71% of software buyers turn to their colleagues and peers for software recommendations.
- Software buyers fail to compare: 1/3 of software buyers did not demo a single product before making a selection, and 22% of respondents chose the first software they looked at.
- Software selection takes time: While most software purchases take three months or less, some industries- like Real Estate and Construction- buy software in less than two months, while other purchases, like ERP software, take up to nine months on average.
Capterra CEO, Michael Ortner, says this data finally provides some empirical evidence for why so many business software purchases fail to meet the company's needs a few years later. "Buying software isn't something most professionals do every day - or even once a year, for that matter. Given the fact that most software purchases involve multiple, high-impact stakeholders and take several months on average, it's more important than ever that companies do their due-diligence before making a selection."
The study also shows that the more demos and product comparisons buyers made prior to purchasing, the less confident they were in their ultimate decision.
"Ignorance may be bliss, but these software users probably won't feel that way when they find out that they're overspending, under-utilizing their system, or missing out on key functionality because they made an uninformed software choice," says Ortner. "You really can't afford to stick your head in the sand."
For a closer look at the results of this study, Capterra has published the full report at Software Buying Trends 2013.