The next 12 months are set to be tougher for already beaten-down technology companies, as high inflation and interest rate uncertainty are tipped to lengthen sales cycles, while capital-raising conditions remain tight.The Australian Financial Review
“The top performing ASX tech companies are mostly B2B players, so they are in a better position compared with other markets in which many of the top tech companies are consumer-facing businesses and so more vulnerable to consumer spending trends.”– who does not expect the slowdown to be the same across all markets – agreed.
“By far and away, the biggest uncertainty facing us is the impact of rising interest rates and inflation on consumer demand and how that will impact our marketplace,” he said.For the year to date, the SP/ASX All Tech Index is down more than 32 per cent, compared with the ASX 200, which has lost only 5 per cent.
“We anticipate inflationary pressures to continue in 2023 and will continue to review and adjust prices accordingly.”Profitability is expected to remain the metric of the moment for investors, and many CEOs expect it to stay this way for years. “[This year] has reminded the tech sector we should all have an ongoing focus on efficiency and profitability as part of good financial discipline. We implemented an organisation-wide efficiency program a couple of years ago ... it’s given us an annualised cost reduction of approximately $50 million, which was important for driving further operational leverage as our revenue continues to grow.
Source: Tech Daily Report (techdailyreport.net)
A pay rise for themselves at the expense of their staff
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