As the rise of digital offices begins to take over, we examine two companies that could benefit hugely from this shift in the world of work.
Jan. 20, 2022
Call it what you will: the “Great Resignation,” the “Great Reimagining,” the “Great Realization” – they all mean the same thing.
The world of work is changing.
The pandemic has forced a rethink of how we view our working lives. People have got a taste for remote work and, surprise surprise, they quite like it. Workers are taking control of their lives in an unprecedented manner. Companies have had to rethink how they operate. Flexible arrangements, remote opportunities, and a greater work-life balance are now essential considerations.
These changes have created an opportunity for certain companies to profit massively, so we want to take a look at two in particular who could benefit from this global shift in working habits.
To anyone who worked through the initial stages of the COVID-19 pandemic, this pick should come as no surprise. The comm-tech company saw a huge boom at the beginning of the pandemic as workplaces across the globe scrambled to find a video alternative to in-person meetings.
Despite being down over 70% from its all-time high in October 2020, the stock is still up over 150% since going public in 2019. With many darlings of the pandemic now struggling, Zoom (NASDAQ: ZM) managed to buck the trend by quietly reporting a solid earnings beat in its third-quarter call.
Having rapidly attained a high level of cultural significance and brand awareness, the company will be hoping newer product offerings such as Zoom Phone and Zoom Events can pave the way for continued success in a much more remote world.
Salesforce (NYSE: CRM) is the industry leader in customer relationship management (CRM) software and has been for quite some time. The company offers a broad suite of tools to help other businesses succeed in an increasingly online world.
Its July purchase of workplace communication platform Slack allowed Salesforce to further penetrate the industry by building an all-encompassing suite of software that can handle almost anything from in-house collaboration to customer experience.
Its mission to “make work-life simpler, more pleasant, and more productive” is one that I’m sure many CEOs are eager to take advantage of. As Executive Vice-President and General Manager of CRM applications, Bill Patterson, put it, “now more than ever, organizations of all sizes and industries need a trusted partner to help them navigate this digital-first world.”
With businesses becoming increasingly more digital over the past number of years, Salesforce has placed itself superbly as a one-stop solution to most companies’ digital needs. As its potential market expands, so too should Salesforce.