COVID-19 PIVOT (COVOT)
Software providers have exploded in the last 5 years, with the rise of SAAS and distributed teams. Software and apps have become a core building block of most companies with the average employee now using 8 different programs, and the company spend on this now exceeding hardware spend on computer and laptops. With the coronavirus pandemic, companies are starting to cut their spending and software will be one of those line-items that will get a thorough review with license numbers potentially dropping. We will, however, see a potential lift in some software licenses — those providers offering team collaboration as a core service will see a huge climb, as employees start to work from home.
- Software providers that don't offer cloud-based team collaboration will need to quickly prioritise this in their backlog to avoid a rapid decline in users
- Shift to 24/7 support teams, as customers will now be working outside of the standard 9-5 office hours as they start to work from home