Enterprise Cloud Economy Booming, Driven by Big Data
The SteelBrick report analyzes how enterprise companies are selling to customers and also examines B2B selling trends compared to this time last year.The market for enterprise technology products is booming, with 72 percent of high-technology providers reporting growth in sales quote volumes, and 42 percent reporting accelerating sales cycles, according to a report from SteelBrick. The report analyzes how enterprise tech vendors are selling to customers and also compares current B2B selling trends to this time last year. Results are based on findings from over 130 SteelBrick customers, 80 percent of which sell software- as- a- service (SaaS), storage, cloud infrastructure, telecommunications, networking, and big data technologies. "While we expected growing demand, we were surprised to see that sales cycles were speeding up for 42 percent of companies since competition has been growing as well, with more and more well-funded start-ups entering the fray," SteelBrick CEO Godard Abel told eWEEK. "Clearly this means that the growth in demand is outstripping the growth in supply." Abel explained the sales boom for enterprise tech is being driven by two trends, the first being the shift of enterprise computing to the cloud, and secondly, the mushrooming volume of big data. .
While sales cycles range from same day to over a year on average, high-tech companies report sales cycles of 100 days (or three to four months), and 42 percent of companies report sales cycles accelerating over the past year. Only 11 percent report slowing sales cycles.