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Services drive revenue growth

CFOs are retooling their businesses to generate more revenue from services, including professional services, subscription-based services, software/apps delivered as a service, managed services and usage-based contracts.

More than a third of163 CFOs questioned by Cloud ERP vendor FinancialForce say that subscription-based services have become significantly more important for their companies over the past five years. Roughly the same number (26.9%) see those types of services as an important part of their company’s growth plan over the next two years.

Currently, 71% of CFOs report that more than half of their revenue comes from services, and almost a third report that all their companies’ revenues are service related. More than half (55%) say that services generate a higher percentage of revenues today than they did five years ago.

Only 17% of respondents are confident that their operational and IT infrastructure is equipped to handle the increase in service-related revenues.

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