Almost two-thirds of respondents to the latest Quocirca COVID-19 business impact study indicate that the pandemic could create new opportunities for product and service innovation.
Quocirca released further details of their impact report showing that COVID-19 is accelerating the adoption of automation and digital collaboration, as remote working becomes the ‘new normal’. Some of the world’s biggest brands, such as Twitter, have already endorsed the idea of home-working ‘forever’. Greater workplace flexibility can improve productivity and inclusivity while also supporting sustainability targets by reducing commuting, the need for office space and the associated impact of heating and lighting buildings.
Quocirca said that if working from home becomes business as usual, it will be a significant threat to already declining office print volumes. Although this could be displaced to some extent with increased printing in the home, this in itself introduces new challenges – including security, managing consumables, auditing and monitoring print costs and efficiency.
Print vendors and their partners will need to steer their businesses forward by adjusting their products and services to address the changing printing and imaging needs of customers. Fortunately, many print industry vendors and resellers recognise that the crisis represents an opportunity for product and service innovation. In Quocirca’s latest COVID-19 Business Impact survey, 65% agreed that the pandemic could spur innovation in their business.
The channel in particular could be a lifeline proactively accelerating sales for OEMs. To achieve this, Quocirca said, the channel needs to evaluate new business models and develop or enhance cloud services to support digital transformation. Quocirca’s Print 2025 study already revealed that traditional vendors and their partners were losing influence in favour of those with IT-centric expertise. As such, channel vendors must consider potential new partnerships and collaborations particularly around cloud and security as these issues become more critical to purchasing decisions.
“The print channel must be proactive in taking steps to leverage their agility and responsiveness and prime their business for the new normal,” Quocirca said.
“With long-term vision and reinvention in mind, the COVID-19 pandemic may create more nimble and agile industry players that can embrace new ways of working and thinking and pivot to new business models,” Quocirca concluded.
To see a list of Quocirca’s suggestions for new products and services to support both the office and home environments, click here.
