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| Canadian software industry healthy: PwC |
September 29, 2006 |
Canadian software companies had markedly better financials in 2005 than in previous years, according to a survey conducted by PricewaterhouseCoopers (PwC).
Of the companies surveyed by PwC for the third annual Report on Emerging Canadian Software Companies: The CEO Perspective, 65 per cent were profitable in 2005, up from 56 per cent in 2004 and 33 per cent in 2003.
“The increase in revenues is likely because companies are implementing more scalable business models, creating lower cost structures and hiring seasoned management with experience in building profitable businesses,” said Susan Allen, leader of the PwC Emerging Company Practice.
“Emerging company CEOs surveyed this year are again predicting a revenue increase of some magnitude in 2006 and 40 per cent predict revenue increases in excess of 50 per cent.”
CEOs are concerned about growing revenues and developing strategic partnerships, and on the downside 20 per cent report their companies did not meet last year’s forecasts.
In terms of technology usage, approximately 50 per cent of those surveyed employ open source software (OSS) in some capacity. Seventy per cent of the emerging-company CEOs expect OSS to deliver more functionality versus only half of the large-company CEOs.
Overall, more than 70 per cent of emerging-company CEOs reported being slightly positive or positive about the growth in Canadian software IT spending.
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