We live in a world where software purchases are no longer driven by human intuition. AI algorithms that predict business needs with uncanny precision have stepped in to do that work.
Previously dominated by spreadsheets and guesswork, the software buying process is radically transforming. Artificial intelligence doesn’t just influence the products sold; it revolutionizes the entire B2B buyer journey. Intelligent algorithms are redefining the old, complicated, time-draining process.
According to the 2024 G2 Buyer Behavior Report, 72% of C-suite employees said their organization has a formal ROI goal for its AI investment, a stat that underscores the elevated role of AI in today's business strategies. AI-infused solutions offer predictive analytics, individualized experiences, and automation, making the SaaS customer journey more sophisticated and informed than ever.
For buyers, this means adapting to a new way of thinking. You have to understand this shift in order to make educated, strategic decisions that propel your business forward.
These key statistics highlight the growing importance of AI in the B2B buying journey, pointing toward its longevity as a transformative force reshaping how businesses procure software.
When it comes to software, it’s truly a buyer’s market. As AI transitions from a buzzword to a fundamental business component, the software market has come out in favor of buyers who now expect AI capabilities as standard features.
The expectation is not without reason.
"Five years ago, AI was still hype because it mostly existed in behind-the-scenes mode. It wasn’t accessible or transparent. Now, vendors are accelerating AI development in products that can make a real difference - but buyers want to see ROI."
Bryan Brown
Founder & Chief Analyst, GTM Partners
Traditionally, routine tasks such as vendor comparison, contract negotiation, and compliance checks took a lot of time and produced many mistakes. AI-powered tools have automated work like this to accelerate the buying cycle and deliver more accurate results.
G2 confirms that 77% of buyers recognize genuine AI advancements in software products beyond the initial media and marketing push. This change in perspective lets buyers like you concentrate on calculated efforts to steer your businesses toward greater value.
The benefits of AI are not just theoretical. Consider a scenario where your organization uses an AI-driven procurement platform. It can cut down on the time it takes to acquire the solution, identify cost savings, and align the software purchases with operational needs.
Many examples like this have translated to a tangible ROI for AI integrations. In fact, 83% of organizations already report positive returns in Q1 2024.
Given this success, it's understandable that AI power users have high expectations. They want AI to deliver significant value and expect their investments to make money. They know that AI returns have to be able to stand up against other software investments.
Given the shifting climate and considerable demands, the traditional software buying process is undergoing a fundamental evolution. From transforming large volumes of raw data into actionable insights to providing personalized software recommendations, AI has taken the tedious, tenuous SaaS customer journey and transformed it into an efficient data-driven experience.
You no longer have to encounter as many bottlenecks during research, which is the longest stage in the journey, as per 34% of buyers. Instead of wading through endless information, you can now rely on AI to suggest solutions tailored to your specific requirements and preferences.
The impact goes far. Whether you’re trying to assess your existing software stack or understand industry-specific challenges, AI ensures that the recommended products have the highest potential to drive value.
Try Monty, G2's revolutionary AI assistant that we designed to transform your buying experience. Monty harnesses advanced algorithms to sift through vast amounts of data and present you with the most suitable software solutions for your distinct needs.
The move towards self-service marks another notable shift. Most B2B software buyers prefer self-service throughout the buying process, especially in the early stages. G2 reports reveal that 69% of software buyers only engage with a salesperson after they’ve made a choice, indicating how much AI supports the DIY journey.
AI-powered negotiation tools have further enhanced acquisition. Using historical pricing data, market trends, and competitor analysis, they propose optimal negotiation strategies that target the best investment value. For instance, AI agents can simulate different contract scenarios to help buyers roleplay various terms to find the most advantageous deal.
Even though AI is emerging as THE tech of the moment, its integrations involve several complexities despite its unparalleled capacity to expedite the B2B buyer journey and procurement process.
Ninety percent of APAC buyers have a formal purchasing process, but just 75% of EMEA and North American buyers report the same. This discrepancy may result from varying levels of AI adoption and organizational maturity across regions, suggesting that some markets may be more advanced in AI integrations than others. Buyers have to tailor their AI strategies to align with regional adoption rates to ensure that their procurement practices are globally conscious and locally adaptable.
In addition to these entanglements, 61% of software buyers disclose that legal departments always or frequently slow down their software purchases. Thoroughly reviewing complex contracts and verifying regulatory compliance often causes these delays. The extra wait time has previously been necessary, but it highlights the call for AI-driven solutions that can automate contract reviews, perform quick compliance checks, and provide insights for risk assessment.
% of buyers who say each group has final software purchase decision-making power
For others, decision-making authority often rests at the executive level, with 2 out of 5 buyers claiming that the C-Suite ultimately wields software purchase power. Centralizing the decision-making process slows the buying journey and emphasizes the importance of providing executives with AI-driven insights for quicker buy-ins from the top.
"AI can be the ultimate software buying assistant, enabling data-driven choices aligned with larger business goals. It can automate complex tasks and help make faster, smarter decisions, transforming how businesses invest in technology."
Rachana Hasyagar
Manager, Market Research, G2
AI-driven insights facilitate decision-making, but you have to consider the responsible use of AI. As it becomes more prominent in the B2B buyer journey, AI's ethical considerations also become paramount. Bias in AI algorithms has led to unfair outcomes, and data privacy concerns must be addressed. Transparency, accountability, and fairness should be core principles for the future development and deployment of AI-guided buying solutions.
Organizations must invest in AI bias detection tools, prioritize data privacy, and establish vigorous ethical frameworks to mitigate these risks. Fostering a culture of AI literacy is also essential to make sure employees understand the technology's capabilities and its limitations.
As a buyer, you should enjoy the future-minded power of AI while being mindful of regional and organizational nuances.
Integrating AI into the B2B buyer journey represents a significant leap toward efficiency and independence for software buyers. This change doesn’t just replace manual tasks but defines the entire SaaS customer buying experience. With 72% of C-suite executives setting formal ROI goals for their AI investments, the strategic significance of AI in business operations appears more evident than ever.
The future of B2B software buying has arrived, and AI is in the driver’s seat. Adopt these advanced technologies, and you will position yourself for sustained growth and success in the digital age.
Take the next step. Explore the latest AI-driven solutions and find exclusive deals on G2.
"Buyers reign supreme." This would be the shortest summary of what we found out about B2B...
by Soundarya Jayaraman
B2B buying behaviors are constantly evolving, with review sites – like G2 – playing a more...
by Palmer Houchins
Now more than ever it’s important to be on top of everything that’s happening with your...
by Jordan Wahl