The latest quarterly survey by the Business Application Software Developers Association found while the number of companies reporting increasing software sales remained unchanged at 51%, nearly a quarter of respondents said sales had slumped, compared with just 18% three months ago.
But looking ahead, 54% of companies expected revenues to grow, with just 16% of companies expecting decline.
‘Overall, my assessment is that we should see a return to growth in 2002, particularly with the number of companies both in Europe and the UK which have not yet upgraded to deal with the euro.’
The survey also revealed that supply chain and e-procurement software were the biggest sellers throughout the quarter, each accounting for more than half of sales.
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Barclays has partnered with accounting software company Xero to provide businesses with access to transaction data through its direct feed.
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
Xero unveiled its expanded global partner programme at Xerocon South, the accounting technology conference in Australasia