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Zoom Shares Benefit From COVID-19 Outbreak
The increase of confirmed COVID-19 cases outside of China has negatively impacted the US stock market, with the exception of one sector: web conferencing tools.
Indeed, Zoom Video shares climbed inversely to the market’s rapid downward trend. Zoom’s stock rose 3.2% on 24 February and went on to break its all-time high as the week progressed.
Zoom’s solutions have surged in demand due employees’ need to work remotely and avoid contracting COVID-19. US employees in China have especially led this demand.
Source: SoftwareReviews Scorecard for Zoom. Accessed February 26, 2020
The remarkable staying power of capitalism is its ability to adapt to changing global preferences – whether it is from selling the Guy Fawkes masks that made up the 99% Occupy Movement or increasing the value of web conferencing tools from a looming pandemic. On this latter point, Zoom is especially benefitting from this potential global crisis: it offers a great business continuity solution for working remotely and avoiding the worst of the COVID-19 spread.
Web conferencing capabilities have improved dramatically over the past ten years and Zoom has become the “go to” web conferencing best-of-breed software. SoftwareReviews labels Zoom as a market leader, in no small part due to Zoom’s simplicity of use and installation. While Zoom may fall marginally short of the benefits Cisco Webex is now offering through Webex Assistant to Meetings (such as machine learning and sentiment analysis), Info-Tech members looking for a quick-to-install web conferencing tool will not go far wrong with Zoom.
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On March 11, 2021, Verizon provided updates to BlueJeans’ product vision and direction for FY2021. BlueJeans experienced dramatic adoption in 2020, particularly for webinars and events, and seeks to offer advanced breakout room features in the future.
On February 24-25, 2021, Zoho held its annual ZohoDay – a conference aimed at communicating the state of the business and product roadmaps. The event coincided with Zoho’s 25th year as a company, testament to Zoho’s long-term business approach: grow organically, have zero debt, zero external investments, remain cashflow positive, and plow cashflow back into the business and customers.
On October 29, 2020, Verizon briefed on BlueJeans’ product vision and direction. This note outlines the new and upcoming features that users can expect from BlueJeans for the rest of 2020 and into 2021. However, with the table stakes margin for features rapidly increasing in the web conferencing marketspace, BlueJeans’ new features are less a way to stand out from the crowd and more as a necessity to keep up.
On November 5, 2020, Cisco briefed on its upcoming virtual legislative session tool Webex Legislate. With a range of features that governing bodies around the globe have desired throughout the extent of the pandemic, Webex Legislate surely becomes the must-have tool for conducting virtual and hybrid sessions – especially if an agency is already leveraging Cisco products.
On September 1, 2020, Info-Tech briefed with Cisco about current and upcoming features of its Unified Webex app for September. Significant changes include the introduction of Cisco Webex Classrooms and the Webex Control Hub, with notable updates also coming to Webex for Education, Webex Meetings, and Webex Teams.
On September 4, 2020, Info-Tech briefed with Zoho about current and upcoming features of Zoho Workplace, a global enterprise collaboration platform. Organizations, especially SMBs, that want to look outside of Microsoft’s and Google’s office productivity suite duopoly should consider shortlisting Zoho Workplace as a viable option.
Enterprise Connect’s virtual conference and expo for 2020 featured a wide variety of sessions on communications and collaboration for the enterprise. In this fourteenth note of fourteen, I report on Recon Research’s latest study on how COVID-19 has cemented web conferencing as the future of the workplace.
Zoho Workplace – a global enterprise collaboration platform – has reported that it is now supporting 15 million users and is experiencing a surge in usage for its business applications. However, compared to Microsoft’s Office 365 and Google’s G Suite, Zoho still has a long way to go in this marketspace.
Google has announced several updates to its G-Suite offering, which aims to heavily integrate and better secure its teamwork applications. The move represents a clear attempt by Google to directly compete with Microsoft’s office productivity suite, with several of the G-Suite updates mirroring the logical architecture of Office 365.