SAN FRANCISCO, CA / ACCESSWIRE / November 1, 2022 / With enterprise technology spending approaching $4 trillion annually, companies are progressively relying on peer recommendations to make purchasing decisions that provide a real competitive advantage in their markets. John DeLoche, Co-Founder and Managing Partner of Invictus Growth Partners, a leading San Francisco-based tech buyout and growth equity firm, says "where business success and career success are at stake, peer reviews have become the most important influencer of enterprise software buying decisions, especially in B2B technology segments such as cybersecurity, DevOps, and IT management."
Smart investment in high-level enterprise technology brings notable advantages like achieving strategic vision more quickly, scaling for the long term, streamlined workflow, customization, and having important proprietary systems in-house rather than entrusting outsourced organizations. The technology behind Salesforce, HubSpot, and Slack illustrates the myriad benefits of enterprise technology, but this software requires a significant initial investment, which is why peer recommendations have such an important role in this space.
John DeLoche points to the world's fastest-growing enterprise technology review platform, PeerSpot, as a benchmark company for informative reviews that rank as "the most thorough and trusted among enterprise buyers, with an average of 600 words per review."
Reviews have become more critical to the software buying decision than analyst recommendations. According to LinkedIn's "The Age of Agility" B2B Technology Buying Survey, 41% of respondents said peer reviews related to increased knowledge of technology products, versus 28% for analyst reports.
The reviews are so comprehensive that buyers can find all the information they need from user feedback without ever speaking to a vendor. DeLoche notes that thanks to their unparalleled reputation, PeerSpot has enabled 96% of the Fortune 1000 to research technology buying decisions, and influenced over $600 billion in spending on enterprise technology from 22 million enterprise tech buyers. Additionally, the first annual PeerSpot awards were held in Menlo Park in October 2022, which may well become the most influential technology awards as they are based solely on objective user feedback, rather than analyst anecdotes.
Co-Founder and Managing Partner of Invictus, William Nettles, expressed that "peer reviews validate the performance of essential tech products and provide buyers reliable data for their buying decisions."
Valuable peer recommendations are helping enterprise technology tools increase productivity and business efficiency globally. From Cybersecurity and DevOps to IT, reviews help pave the way for operational excellence that benefits not only the businesses that adopt them but also their employees and end-users that appreciate even better customer experiences.
SOURCE: Cambridge Global