target audience: TECH SUPPLIER Publication date: Dec 2022 - Document type: Market Perspective - Doc Document number: # US49388622
Customer Experience Vendors: Understanding the Implications of the Recession Environment on Enterprise CX Spend
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Abstract
This IDC Market Perspective explores the global recession sentiment on technology spend and, in particular, the impact on enterprise spend for CX. IDC lays out the factors that will impact the CX market as a result of recession-influenced budget decisions and how can CX vendors navigate the CX tech buyer market in this challenging environment. Enterprise executives are signaling that type of vendors being engaged for CX initiatives, their decision criteria for CX purchases, and their approach to managing potential vendor rate increases from CX vendors are some of the areas that will see an impact.
"The current recessionary sentiment will see CX executives becoming more purposeful in CX-related investments," said Sudhir Rajagopal, research director, Future of Customer Experience research program at IDC. "Experiential factors and demand for business value are top of mind for executives — factors such as ease of doing business with a vendor, higher quality of customer success services, and requiring vendors to demonstrate tangible value."