Slowing growth rates

This will be a tough year across the board for software sales. There will be of course be some exceptions, but generally the trend was been downwards in the private company space.

A lot of companies we work with and have been exploring have not hit their targets for the year and will be guiding downwards as we start Q4. We’ve adjusted our forecasts and models accordingly as well heading into Q4.

The primary reasons for these slower growth rates is cost cutting across companies. There is simply just less money to spend on software in 2024 than there was 3 years ago. In addition, sales cycles have gotten a lot longer and that has thrown off a lot of forecasts for the year.

There is always hope with Q4 though and we hope that most companies can close out the year strong.