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Businesses are looking to software to help grow their businesses. Running modern software can be the ticket to innovation and competitive advantage. A study by CA Technologies found that businesses running modern software had shorter product cycles and were able to get their products to market faster. Additional benefits included reduced maintenance costs, higher revenues and overall better business performance.
Investors are betting that businesses will scramble to jump-start their companies by adopting more modern software. So much so in fact that TechCrunch reports that enterprise software startups raised $5.4 billion in just the first half of 2014 — more than in all of 2013. The Wall Street Journal (WSJ) created a scorecard called the Billion Dollar Startup Club that tracks venture-backed companies that are values at more than $1 billion. Of the 35 companies on that list, 20 are focused on selling enterprise software and services. Those companies include Cloudera, Palantir, Square, Docusign, Box and Pure Storage. On that list, Cloudera alone has raised $900 million in venture.
Technology is changing the way that businesses work. It’s becoming true that “every company is a software company.” Cloud computing, mobile and Big Data Analytics are all contributing to the effect, but these technologies have a ways to go before they fully are dispersed among businesses. It’s likely that we’re still in the very early stages of the transformation of businesses.