Global recessions, cost of living crises, and economic turmoil are all causing issues for business leaders and consumers alike. At a time when profits are dwindling, and uncertainty is plaguing the marketplace, many companies are cutting down on purchases, and doing their best to minimize operational expenditure.
So, what does this mean for UCaaS?
For years, UCaaS adoption has been growing at a steady pace, driven by an increasing demand for the scalability and flexibility of the cloud. During the initial pandemic year of 2020, IDC found UCaaS and hosted voice adoption grow more than usual (26.1% year over year). Now, experts are beginning to explore the concept of UCaaS being the ultimate tool for “recession-proofing” brands.
Here’s why UCaaS adoption levels are still growing, even in a recession, and why a UCaaS strategy might be the best way to preserve your company heading into 2023.
Research shows countless companies have reduced their spending on technology and digital transformation initiatives this year, as they struggle to keep up with changing macro-economic challenges. However, UCaaS adoption seems to be unhampered by this trend.
In a post-pandemic landscape, where employees are demanding more efficient and productive tools from their business leaders, and consumer expectations are growing, UCaaS is on the rise. Around 91% of SMBs now say they consider voice and advanced communication services to be essential to the operation of their organization.
Indeed, according to a study conducted by communications company Jabra and analysts Frost & Sullivan found the recession has actually driven increased adoption of Unified Communications tools. According to the report, 57% of companies said the recession was a primary reason for their decision to implement UC. What’s more, brands implementing unified communications expect to see results fast.
Around 80% of the respondents said they expected to see a return on their investment within two years, whereas 25% said they were expecting an ROI within as little as 6 months. The demand for UCaaS stems from a number of factors, including increased need for analytical tools, enhanced communication services, and collaboration opportunities.
Adopting UCaaS solutions isn’t just a necessity to deal with changing demands right now. It’s also an important part of making sure companies can continue to thrive in the future economic climate. The often-shared benefits of UCaaS have a direct impact on how effective companies are likely to be at tackling the recession in the months ahead.
For instance, some of the major advantages UCaaS offers for recession-proofing include:
While no technology can guarantee a company protection from macro-economic changes and recessions, some tools are more suited to preserve a company’s performance during difficult times. With UCaaS solutions, business leaders can access the flexible and scalable environment they need for efficient and cost-effective communication.
Even as digital spending initiatives continue to falter, the continued adoption of UCaaS demonstrates just how valuable the right platform can be for any business.