Market Opportunity
Cation is addressing the industry challenge to reduce IT spend by enabling people, process and technology to be delivered better, faster and cheaper.
With IT being a key business enabler organisations are spending more than ever before.
Global IT spending is increasing – up 2.4% for 2021
Global IT Operations Management (ITOM) software revenue has grown 4% year on year to reach $30B
The ITSM market is expected to grow (CAGR) at 6.8% over the period 2018 – 2023
A wave of new providers entering the market to service technology needs. The “Big four” ITOM vendors have continued to surrender market share in 2021, while a new generation of ITOM vendors grew significantly faster than the market
Digital transformation in 2021 will drive technology spending growth of 4.9%
Focus has recently shifted to the performance of the IT services rather than the performance of the underpinning technology.
There is a constant pressure on IT departments to be both cost effective and high performing. Traditionally IT departments have focused on the technology provided rather than the service being delivered.
IT departments now seek to transform and are driven to:
- Determine total cost of ownership and sustainably measure improvement benefit
- Increase productivity and bottom-line results
- Be contestable and source effectively
- Manage complex relationships with mixtures of internal and external supplier groups
- Adapt to a high and constant rate of change
- Measure, manage and improve Service performance and process maturity
- Be highly agile and innovative
There is limited visibility or predefined success criteria to support investment decisions and realise delivery benefits.
A market for IT Business Management has emerged.
Economic pressures and the rise of the cloud has IT departments thinking more like businesses. Tools have emerged to help contain costs, ascertain value and determine the best place to run workloads. However none provide a holistic and centralised solution to run and manage the IT Business.
Cation’s technology solution capitalises on this $45B market opportunity and business problem to:
- Measure the IT organisation’s performance
- Provide a comprehensive, relevant and easy to use suite of products for all levels of the organisation
- Deliver cloud based, agile, cost effective solutions
- Enable leaders and managers to get a quick and relevant insight into their IT departments to ensure alignment to business needs
- Allow organisations to collect, analyse and report on IT Business and Service Management data
