earlier this weekTipsClear showed a hold of earnings reports showing that some companies are helping other businesses move to modern software solutions, which are seeing a boom. As a service (SaaS) world inside software, this is known as digital transformation. Depending on how many software companies are talking about, the pace of change is only picking up.
But since we published that first entry, many SaaS companies have posted financial results that disappoint investors. We should sit back and think about seeing some companies in the high-flight sector struggle. what was happening?
Today we are going to find out how real the acceleration of digital change seems, but how it does not descend evenly. We are going to have a little time for earnings results, talk to Yext CEO Howard Lerman with notes on what his B2B SaaS company is looking at, and what might come next from software shops Wrap up.
A quick word on digital transformation
We all hear about digital transformation, but it is difficult to define. In general, this is a broad field that includes a common way of moving rapidly through modern software development practices and technology such as digitization of manual processes, continuous delivery and containerization – particularly in the cloud.
Speaking last month on Extra Crunch Live, Box CEO Aaron Levy defined the term as he sees it. “The way we think about digital transformation is that most of the world has a whole bunch of processes and ways of working – ways of communication and ways of collaboration where if those business processes or the way we worked It can be done in digital form or in cloud, you will actually be more productive, more secure and you will be able to serve your customers better. You will be able to automate more business processes. ” he said.
What we are seeing now is that the epidemic has greatly accelerated the pace of change that many had anticipated. Efforts to slow the spread of COVID-19 and its associated workplace disruptions have accelerated into what would have been a normal timetable. But on its own, this does not mean that the market is seeing similar results in every company and industry that may be part of that trend.
A lot of SaaS companies reported earnings this week, but two sets of returns were stuck as we reviewed the results, which were from Slack and SmartSheet.