Winning Software Budgets in 2024: CFO Scrutiny, Vendor Selection, and Deal Approval Strategy

CFOs are dramatically increasing scrutiny on non-headcount software spend in 2024 due to slowing revenue growth and declining hyper-growth software company valuations, creating a shift from abundant spending to disciplined cost management. The article provides a framework of questions CFOs should ask before approving software purchases—covering tool necessity, vendor evaluation, hidden costs, and pricing—while offering sales teams guidance on how to help internal champions build trust with CFOs to secure approvals. The broader context shows software companies have shifted from 51% median revenue growth in 2021 to 0% hyper-growth companies today, fundamentally changing budget dynamics.