Square – Enterprise Tech Ecosystem Series
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The annual ICT spending of Square was estimated at $199.0 million for 2020. A major share of this spending is earmarked for acquiring software, consulting, and hardware from vendors. Square is a financial technology company whose tools help businesses and individuals become part of the fintech ecosystem. The company revolutionized the payment industry in 2009 by launching Square Reader, making it possible for anyone to accept card payments using their smartphone or tablet. Square specializes in providing payment processors and point-of-sale (POS) solutions to sellers.
The Square enterprise tech ecosystem report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, technology partnerships, technology introductions, investments, acquisitions, and ICT spending among others.
Digital Transformation Strategies
Most of Square’s applications run in its datacenter, but the company is now focusing on migrating these applications to the cloud. Currently, Square is at a very early stage of its cloud migration strategy. Square’s Platform and Infrastructure Engineering team, which provides the infrastructure and tooling required to operate in the datacenter, is now exploring cloud-hosting opportunities.
To gain more insights on digital transformation strategies and initiatives of Square, download a free report sample.
Square Technology Theme Focus
Square is utilizing a number of emerging technologies including artificial intelligence, cloud, online payments among others to enhance payment processing, provide sellers and individuals with more payment options, and improve customer experiences.
To know about other technology themes under focus for the company, download a free report sample
Square Technology Initiatives
Square has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs, and technology investments and acquisitions over the last few years. For instance, in 2019, the company introduced Square Assistant, an AI-powered chatbot that allows business owners to provide instant responses to customers and fills up empty client slots, preventing cancellations and no-shows. For business owners already using Square Appointments – an app to manage appointments directly from a mobile device – Square Assistant lets them directly and quickly respond to customers and automatically confirm, cancel, or schedule appointments without any human intervention. Furthermore, Square Assistant also sends SMS appointment reminders to customers to confirm or reschedule an upcoming event.
For more insights on other technology initiatives of Square, download a free report sample
Square ICT Spend by Function
- Data center
- Communications
- Network
- Applications
- End-user computing
- Management
- ICT Service desk
For more insights on ICT spending by function, download a free report sample
Square ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/consulting firms
- Specialist outsourcers
- Systems integrators
For more insights on ICT spending by channel, download a free report sample
Square External ICT Spend by Segment
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- ICT services
- Consulting
- Network and communications
- Others
For more insights on external ICT spending by segment, download a free report sample
Square Tech Ecosystem Overview
Total ICT Spending 2020 | $199.0 million |
ICT Spend by Function | Data center, Communications, Network, Application, End-User computing, Management, and Service desk |
ICT Spend by Channel | Internal development and maintenance, Technology vendors (direct), Local resellers, Telcos, ICT services providers/consulting firms, Specialist outsourcers, and Systems integrators |
External ICT Spend by Segment | Software (including cloud SaaS), Hardware (including cloud Iaas), ICT services, Consulting, Network and communications, and Others |
Technology Theme Focus | Artificial intelligence, cloud, and online payments. |
This report provides:
- Insight into Square’s technology activities.
- Overview of technology initiatives covering partnerships, technology introductions, acquisitions, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
- Gain insights into Square’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of Square in 2020?
The annual ICT spending of Square was estimated at $199.0 million in 2020.
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What are the key ICT spending categories by function for Square?
The key ICT spending categories by function for Square are communications, data center, network, applications, end-user computing, ICT service desk, and management.
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What are the key ICT spending categories by channel for Square?
The key ICT spending categories by channel for Square are internal development and maintenance, technology vendors (direct), local resellers, telcos, ICT services providers/consulting firms, specialist outsourcers, and systems integrators.
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What are the key external ICT spending categories by segment for Square?
The key external ICT spending categories by segment for Square are ICT services, software (including cloud SaaS), hardware (including cloud IaaS), ICT services, network and communications, consulting, and others.
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What are the key technology themes in focus for Square?
The key technological theme in focus for Square are artificial intelligence, cloud, and online payments.
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