In 2023, the global business software market surged to an impressive $913 billion and is projected to exceed the $1 trillion mark by the end of 2024, representing nearly one-fifth of global IT spending. This growth is driven by widespread adoption of SaaS, accelerated digital transformation, and unprecedented AI integration.
For software company founders and management teams of scale-ups to thrive in this vibrant market, it is crucial to concentrate on developing outstanding products that meet market needs.
However, the intense dynamics of this sector often stretch management capacities thin, leading to oversight in vital areas such as marketing, human resources, and cash flow management. This has undoubtedly contributed to the high failure rates observed in the sector: 90% for startups, and 92% for SaaS businesses growing at less than 20% annually.
