Enterprise software buying patterns have responded quickly to the Covid-19 crisis, with more than half of buyers saying they have already cut their overall software budgets. Among software categories, some are emerging as priorities that warrant additional spending, especially collaboration and security, as more employees work from home during lockdowns. However, buyers are putting off purchases where they can, including application software suites like analytics, enterprise resource management and customer relationship management. Plans to purchase infrastructure tools remain relatively stable.
As the global pandemic deepens and the human cost of Covid-19 rises, the novel coronavirus outbreak is sending shocks through the world economy. But across industries, companies can take action now to protect their employees and customers and minimize the economic damage.