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6 Ways The Tech Industry Is Confronting The Coronavirus Pandemic

The coronavirus pandemic has hit the IT industry hard with supply chain disruptions, plunging stock prices and forecasts of reduced IT spending.

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Finding Opportunity In Crisis 

Zoom Video Communications made its initial public offering in April at $62 a share. By March 5, as the world was staring down the coronavirus pandemic, the stock climbed to a high of $125. Even in the disastrous week-and-a-half that followed, Zoom shares only fell to $107, with no decline caused by Monday’s record-setting sell-off.

While most companies are anticipating significant declines in revenue because of the disease’s impact on customer spending, virtual conferencing solutions like those offered by Zoom, and other communications and collaboration technologies, are increasingly in demand with so many employees forced to work from home.

That’s not always evident in a stock price, as Unified Communications-as-a-Service providers like LogMeIn, RingCentral and Vonage can attest to after a punishing week on Wall Street for nearly every corporation in America. But those companies are likely to have a moment in the midst of the global outbreak.

In every crisis there’s opportunity, and some technology providers will almost certainly see a major surge in adoption as their customers increasingly look to implement remote workplaces.

Collaboration was already red hot before the current coronavirus crisis—among the fastest growing segments of the SaaS market, according to a recent Synergy Research study.

UCaaS and collaboration products can cushion the economic blow for diversified technology vendors like Google, Microsoft and Cisco, as well as fuel growth in younger companies like Zoom and Slack.

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