Due to saturation level media coverage, we are surely all familiar with the Credit Crunch and how it affects personal and commercial loans, mortgage lending and of course house prices.
However, the Credit Crunch may be having a more subtle effect on the software industry. Naturally as customers tighten their belts, we can expect projects to be put on hold and large software purchases to be considered even more carefully than usual.
This cloud may turn out to have a silver lining for web services providers. With the spotlight firmly on cost, the ability for web services such as Unified Software's BankVal UK bank account validation service to be sold on a 'pay as you go' basis starts to look ever more attractive. Compared to conventional applications, the cost savings for a business can be huge.
So while sales of 'big ticket' conventional software applications may start to decline, the Credit Crunch may turn out to be an opportunity for more cost effective web service alternatives.
Unified Software Ltd is the UK's leading financial web services provider. Our pioneering BankVal family of services have been helping business run smoothly since 2003