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Hey everyone, it's Hailey here! Today, I'm diving into some exciting insights about the buying trends we can expect in twenty twenty four. Trust me, you'll want to stick around for this one because we're talking about the future of technology and how it's reshaping our world. So, what's in it for you? Well, understanding these trends can help you make smarter decisions for your business, enhance your content strategies, and ultimately drive your brand storytelling to new heights. As we sat down to analyze the upcoming trends, one thing became crystal clear: artificial intelligence is taking center stage. It's no surprise that OpenAI has experienced a staggering growth rate of one hundred forty six percent year over year. And it's not just them Canva and Ashby are also seeing impressive triple digit adoption rates. But here's the kicker: while these numbers are impressive, what really matters is how we can leverage this information. As you explore this year's report, you'll find actionable guidance from our negotiation experts on interpreting this analysis and aligning it with your internal data. And guess what? You can read the full report without even needing to provide an email address! But if you're short on time, I'll give you a quick taste right here. First up, let's talk about how AI has changed everything except for the legacy leaders. Salesforce continues to reign as the most used tool, with sixty two percent of all companies relying on it. Following closely are Zoom, Slack, and DocuSign. However, the real story lies in the dramatic growth of AI infrastructure and AI native tools. Our research indicates that nineteen out of the twenty fastest growing software companies prominently feature AI in their branding. Even businesses where AI isn't the core offering are leaning heavily into AI messaging. Now, let's discuss software spending. On average, companies increased their software spending by ten percent in twenty twenty four. This paints an intriguing picture about company size and efficiency. Enterprise companies, with an average spend of twenty one million dollars, benefit from economies of scale. Mid market companies, on the other hand, spend more per employee, averaging fourteen thousand dollars, while growth stage companies face the highest per employee costs at seventeen thousand dollars. When we break down spending by category, we see where the money is flowing. IT infrastructure leads the pack at seven hundred forty eight dollars per full time employee, followed by sales tools at five hundred thirty dollars. Interestingly, security saw the highest price increases at thirty seven percent, while design tools were the only category showing slight price decreases. Company size also plays a significant role in software choices. Small businesses tend to focus on collaboration tools, while enterprises invest in comprehensive systems like ERPs. Yet, some tools maintain consistent adoption across all segments Salesforce, Zoom, and Slack are prime examples. Now, let's talk about contract terms. Companies are increasingly accepting longer contracts, with the average length now at fourteen point two months, which is a six percent increase from last year. This shift is all about seeking pricing predictability in an uncertain market. We're also witnessing the emergence of new AI pricing models. Traditional per seat pricing is being replaced by usage based models, which include per conversation charges, token based pricing, success based fees, and usage time billing. This shift presents new challenges for forecasting and monitoring, where predictability is key. Automation and efficiency are on the rise as well. Software that enhances operational efficiency is seeing significant growth as companies prioritize automation over headcount. This trend is evident across all company sizes, showcasing a clear shift toward operational efficiency through technology. Design tools are making their mark too. The growing importance of user experience is reflected in the data, with tools like Figma and Canva leading the charge and driving growth across the design category. This trend highlights how user friendly, design focused tools are gaining market share from traditional enterprise software. So, what does all this mean for finance and procurement leaders? Here are some key actions to consider: compare your software spending against industry benchmarks, review your contract lengths and renewal timing, and always aim for price protections from the start. Prepare for more complex pricing models, especially with AI tools, and consider the full cost of ownership when evaluating new tools. And don't forget to start renewal discussions earlier at least ninety days in advance. Looking ahead to twenty twenty five, we can expect software spending to continue rising, but there will be a greater focus on consolidation. Companies that grasp these trends will be better positioned for successful negotiations and strategic technology investments. If you want the complete picture, our full report dives deeper into detailed spending benchmarks by company size, negotiation strategies for different tools, and a comprehensive analysis of AI's impact on software markets. So, dig into the full report to get all the insights and data you need to stay ahead of the curve. Thanks for tuning in, and let's keep pushing the boundaries of brand storytelling together!