Companies who allocated more of their R&D budgets to software offerings reported significantly faster revenue growth than others according to PwC's Strategy&
LONDON, Oct 25 (Bernama-GLOBE NEWSWIRE) -- By 2020, companies will have shifted the majority of their R&D spending away from product-based offerings to software and service offerings, according to the 2016 Global Innovation 1000 Study from Strategy&, PwC's strategy consulting business. The need to stay competitive is the top reason why companies cited a shift in their R&D budgets towards software and services, and for good reason - according to the study, companies who reported faster revenue growth relative to key competitors allocated 25 percent more of their R&D budgets to software offerings than companies who reported slower revenue growth.
LONDON, Oct 25 (Bernama-GLOBE NEWSWIRE) -- By 2020, companies will have shifted the majority of their R&D spending away from product-based offerings to software and service offerings, according to the 2016 Global Innovation 1000 Study from Strategy&, PwC's strategy consulting business. The need to stay competitive is the top reason why companies cited a shift in their R&D budgets towards software and services, and for good reason - according to the study, companies who reported faster revenue growth relative to key competitors allocated 25 percent more of their R&D budgets to software offerings than companies who reported slower revenue growth.
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