Software prices soar in 2022/2023, reports ITAM

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According to research conducted by The ITAM Review, software prices increased in the fiscal year 2022/2023 because to COVID-19, rising energy costs, geopolitical insecurity, and rising inflation.

The survey claimed some of the significant price hikes have occurred in cloud computing and corporate software. In some countries, for example, IBM has raised the price of its “Passport Advantage Eligible” plan by 24%. Microsoft has also raised the price of its on-premises software by 20% and its online services by 15% in Japan. Oracle boosted support costs in the United States by 8% and hiked pricing elsewhere to keep up with inflation. SAP also increased their support charges by 3.3% beginning January 1, 2023.

The study asserts that these price rises might have a substantial impact on firms. It also urges businesses to be more diligent in their software and cloud cost management, as well as optimize their IT assets to get the most bang for their buck.

It also cites merger and acquisition activity among software publishers as another factor impacting the IT sector, urging firms to closely follow these changes since they might have a substantial influence on future business interactions.

The study, according to Rich Gibbons, managing director of The ITAM Review, intends to assist IT professionals, executives, and stakeholders in efficiently managing their IT assets and getting the most out of their investments.

The sources for this piece include an article in TheRegister.


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