Masterplans Sample Business Plan: Kirby/Lee Solutions

CONFIDENTIAL – Do Not Distribute Without Permission 17 MARKET ANALYSIS SUMMARY In the modern business environment, nearly every company utilizes a suite of computer programs, both internally, to provide efficient operations management, and externally, to provide services for customers. Prevalent examples of widely adopted software solutions include e-commerce applications in the consumer product industry, online and mobile banking tools in the finance industry, the adoption of electronic medical records technology in the healthcare industry, and the use of customer relations management (CRM) tools, project management software, and accounting/payroll software across nearly all industries. In recent years, the migration of vast amounts of data from servers to the cloud has enabled a proliferation of web- andmobile-based applications built to easily access this remote data. 2 Web-based and mobile applications are flexible, customizable, available on a subscription model, which has led many businesses to adopt multiple systems to fill multiple roles, as well as to develop custom solutions to fill specific needs. 3 With so much technological adoption taking place, however, businesses need trained professionals to help them make sense of their options and to help develop the best solutions for their company. As a result, more and more businesses are electing to outsource larger and larger portions of the IT tasks. According to the IT Outsourcing Statistics 2017/2018 study from Computer Economics, spending on IT outsourcing is at its highest point in five years. 4 From 2016-17, the percentage of IT budgets being spent on outsourcing rose from 10.6% to 11.9%, a major increase considering organizations had hovered between 10.2% and 10.6% for the previous four years. 5 Fifty-two percent of companies planned to outsource a business process in 2019, and IT Services has become the number one outsourced business process. 6 2 Coda. “10 Ways Cloud Computing Is Changing the Business World.” June 10, 2016. Source: 3 Olic, Aleksandar. “The Rise Of SaaS: How The Cloud Is Revolutionizing The Way We Do Business.” June 2018. Source: 4 Computer Economics. Press Release: “IT Outsourcing Percentage Highest in Five Years.” Data Journal Central. August 15, 2017. Source: 5 Ibid. 6 Panko, Riley. “Small Business Outsourcing Statistics in 2019,” June 19, 2019. Source: