Most Americans might not know exactly what SalesforceCRM

does, but its latest warning is an omen for software firms everywhere. The customer relationship management giant, worth over $200B, just reported its slowest growth ever, with sales increasing only 9% year-over-year — the first time in its history that growth hasn’t hit double digits.

• Salesforce explained that businesses are taking longer to convert to paying customers as companies become more budget-conscious and cautious with software spending.
• The news sentCRM
  plummeting over 21% on Thursday, marking its worst day since 2004.

SaaS slowdown: Salesforce’s warning wasn’t the only bad news in the tech space this week. On Wednesday, UiPathPATH

CFO Ashim Gupta noted that bigger deals face “increased deal scrutiny,” causing longer sales cycles. As a result,PATH

dropped more than 30%. With many software firms maturing, this trend could continue — with growth rates expected to slow further.