IT vendor predictions for 2024
SaaS. Generative AI. Geopolitics. They’re not just hot topics — they’re factors that will impact IT vendor risk in the year ahead, for better or worse.
Gartner notes that, "organizations maintain an average of over 125 different SaaS applications totaling $1,040 per employee annually. IT typically is aware of only a third of those due to decentralized ownership and sourcing."
If you combine the lack of visibility with the risks of vendors shuttering due to geopolitical conflicts - and the rise of decentralized SaaS ownership - it’s clear that businesses will need carefully crafted IT vendor sourcing strategies in 2024 and beyond.
To help build that strategy, we invite you to download this complimentary copy of Predicts 2024: Geopolitics, SaaS and Generative AI Impact IT Vendor Risk from Gartner. In it, you’ll discover how you can mitigate IT vendor disruption for your organization, along with new perspectives and approaches that will be critical to reassessing and remediating trends. Gartner notes the below Strategic Planning Assumptions:
- By 2027, geopolitical issues will increase the defaults in SaaS contract commitments, impacting over 50% of subscribers.
- By 2028, one of the main third-party support providers will fail as software providers successfully move customers to subscription models, creating potential vendor ecosystem risks for organizations.
- By 2028, generative AI’s ability to decipher software and cloud vendor contracts will decrease the risk of noncompliance in software and cloud contracts by 30%.