Vendor Perception Study In Progress
So the vendor perception study is in progress in that we are asking users and consultants to fill out the survey that can be found here. The results – the resulting report – will be available as a free download from this site.
The vendor perception study is important for two reasons. First, it gives us an idea about that buyers and influencers really think about vendors and software products and second, it tells us something about buying criteria and what buyers view as important. When you add a geographic and historic perspective to this meaning that we can see how this changes through time and varied by location, ot is truly fascinating information. For example, here is an excerpt from the 2022 VPS…
Despite many solutions saying they are multicommodity/multimarket, it seems that many users rely on more than one CTRM solution to conduct their normal business operations. According to those answering the question, almost half of the respondents identified as users said that their firm utilized between two and five different CTRM solutions while 27% said they only used a single solution. Around 7% stated that they had more than five different CTRM solutions installed. This adds up to an integration headache and probable issues around risk, and other forms of reporting at the enterprise level. Figure 7 shows the distribution of numbers of solutions in use.
Despite the need to often deploy multiple solutions, the users seem remarkably satisfied with what they use. Slightly less than 8% claimed to be dissatisfied with their current solution and 19% somewhat satisfied. On the other hand, 38% were very satisfied and 35% satisfied. Looked at another way, just over a quarter expressed some satisfaction issues with their installed platform (Figure 8). The largest rate of dissatisfaction occurs in Europe (30%) followed by North America (26%). Reasons for dissatisfaction cited were predominantly down to the expense associated with the solution (36% of reasons cited) but others noted issues like poor levels of vendor support, performance speed, missing functionality, old technology, and software bugs .
Despite the current levels of interest in cloud and SaaS deployment, most respondents noted that their current solutIions are traditionally hosted (66%) with 14% saying theirs were hosted in the cloud single tenanted and 8% claiming multi-tenanted (Figure 9). However, how much trust we can place in the responses is debatable as reviewing the total answers of many of these respondents reveals a mismatch between solution used and that solutions deployment capabilities (e.g., ION Openlink indicated to be muti-tenanted, though it is not available in that model). As a backward-looking snapshot, this data indicates that many in the industry still see software as traditionally installed on site with growing numbers of non-traditional approaches emerging including leasing and renting mentioned by a small number of respondents. What was also noticeable was the very small number of respondents citing the use of a bespoke solution.
Please do take your opportunity to have input into this important study by filling in the survey – it takes no more than 10 minutes of your time.
Keep in touch and sign up to our Newsletter
