Since the start of the pandemic, 38% of small business owners across Canada have increased their software spending according to a survey of more than 1,000 Canadian small and medium-sized businesses (SMBs) owners.
The latest Heads Up study, released today by Cargo and their research partner, Phase 5, also revealed that while many SMBs feel they must move their business into the cloud, 58% of them are concerned about cyber-attacks.
The research also highlighted that nearly 60% of larger SMBs (50+ employees) are likely to switch, or are considering switching, their software vendors in the next 12 months, and SMBs of any size rank online reviews as the second most important factor when choosing a vendor – cost being first.
Another major factor influencing software purchasing decisions are the employees (i.e., end-users) at SMBs.
When asked about the type of help they are seeking from vendors, SMBs cited day-to-day software support (42%), setting up the software (26%), fielding employee questions (17%), and updating to newer versions of software (16%).
Other findings show that there is room for improvement among software vendors. These include:
- 54% trusting their software vendors.
- 50% of software vendors caring about their business.
- 57% feeling good, or very good, about cost transparency.
- 58% feeling good, or very good, about the customer support they receive.
- 21% believing technology is “truly” meeting their needs.
- 31% believing technology is “not so much” meeting their needs.
“Possibly the biggest revelation in this study is how much more influence the employees have on selecting and buying software,” said Miki Velemirovich, president of Cargo Canada.
“This opens the door for more end-user targeted messaging, campaigns, and programs. Continuing to solely focus on owners and IT managers at SMBs means big software brands are missing out on an additional audience that is driving the research, shopping, and buying experience.”
