Zomentum Commissioned Study Looks Inside the SMB SaaS Buying Process
MIAMI BEACH and SAN FRANCISCO, Aug. 23, 2022 /PRNewswire-PRWeb/ -- Partners play a vital role in the technology buying cycle for small and medium businesses (SMBs), with nearly half (48 percent) of SMBs involving their technology consultants and service providers when assessing SaaS applications, and 40 percent involving them in the final purchasing decision.
The new report is co-sponsored by Partnership Leaders, the industry association for partnership, channel, alliances and business development leaders. Findings are being released ahead of the Partnership Leaders' Catalyst Conference in Miami Beach, August 24th and 25th
"SMBs increasingly look for solution providers that can demonstrate IT expertise and serve as a strategic guide to business success. With partners, SMBs start to receive the benefits that are so important to them from day one," the report notes. The report further clarifies these benefits, which include:
- specialized knowledge in the field
- product options and comparisons for best fit
- breaking down complex technical jargon
- deployment and management
The survey, which polled 350 IT decision-makers at small and medium businesses (SMBs) around the world, also found:
- 66 percent view SaaS technology as essential to business success and plan to adopt or develop it aggressively.
- More than 50 percent plan to increase technology spending in 2023, with only 6 percent planning to cut budgets.
- 75 percent are highly satisfied with the business contributions of cloud applications, particularly for enabling remote work during the pandemic.
- 66 percent of SMBs plan to shift critical workloads from on-premises systems to the cloud in the next six months.
- The most critical factors SMBs look for when assessing new applications are security (70 percent), proven technology (61 percent) and tailoring for their industry (49 percent).
- 40 percent of SMBs said they would buy SaaS solutions through a partner.
"The results of the Zomentum SaaS study show that creating alliances with partners is highly advantageous for SaaS vendors selling to SMBs," said Zomentum CEO Shruti Ghatge. "A strong vendor-channel partnership creates the right balance of proven technology, support, and security that SMBs are looking for in their SaaS infrastructure."
About The SMB SaaS Buying Study
In April 2022, Zomentum commissioned an independent research study on the SMB SaaS buying process in partnership with Bredin, an SMB marketing and research firm. The study surveyed 350 IT decision-makers at small and medium businesses (SMBs) with 500 or fewer employees across various industries in Australia, Canada, New Zealand, the U.K., and the U.S.
The final report covers:
- Key Trends in SMB SaaS Buying
- Technology Investments for Scalable Growth
- The SaaS Buying Process
- Why Partners Are Critical to the SMB Buying Process
- How to Influence SMB Technology Decision Makers
To download a copy of the report, visit this link.
Meet Zomentum at Catalyst
SaaS vendors and partners can meet the Zomentum team at the Partnership Leaders' Catalyst Conference, Aug. 24-25, 2022, at the Miami Beach Convention Center, Miami Beach, Fla.
Zomentum's CEO Shruti Ghatge will be part of the expert panel discussion, "Drive More Revenue with Partners - #MakePartnerRevenueSexy," at 2:30-3 p.m., Thursday, Aug. 25.
For information about Catalyst, visit https://joincatalyst.com/
About Partnership Leaders
Partnership Leaders elevates the role of partnership professionals through an engaged community and unparalleled resources. The network was founded to remove obstacles that made it difficult for individuals to advance their careers. Partnership Leaders help leaders excel in their organizations by building their network and confidence. Their active community is full of current and future leaders you can lean on to surpass your goals. Learn more at http://www.partnershipleaders.com.
About Zomentum
Zomentum's revolutionary end-to-end Revenue Platform enables both partners and SaaS vendors to earn, grow and manage revenue quickly and cost-effectively. Empowering a thriving Partner Ecosystem, the platform fuels technology sales revenue of $800 million a year and counting across America, Europe and Australia. Zomentum is based in San Francisco, with offices in the U.S. and India. Founded in 2018, the company is backed by leading investors, including Accel Partners, Elevation Capital, Green Oaks Capital and Eight Roads Ventures.
Media Contact
Shannon Murphy, Zomentum, 857.496.5558, [email protected]
Khali Henderson, BuzzTheory (for Zomentum), 480.999.5297, [email protected]
SOURCE Zomentum
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