Despite the growth of software spending in 2023, breaking into the enterprise market has become more challenging for early stage companies.
Procurement and finance departments are seeking to optimise their spend and only invest in solutions that deliver lasting value.
Businesses that can offer essential features that significantly enhance their customers’ efficiency or help them comply with new regulations have a competitive edge in the software-as-a-service market.
A number of our portfolio companies are well positioned to benefit from these trends. For example, an open finance technology platform that provides banks with a leading open application programming interface solution that meets regulatory standards and drives new revenue streams.
Another example is a customs clearance automation technology platform that boosts the efficiency of cross-border trade in a world where free trade is increasingly difficult.
Thomas Makey is co-manager of the Baronsmead VCTs at Gresham House
