The post-pandemic startup shakeout is coming. These are the productivity and collaboration tools likely to survive
By Paayal Zaveri Aug 3, 2022
It’s no secret that productivity-and-collaboration tools saw a huge boost from the pandemic. Microsoft’s workplace-productivity suite, as well as Cisco’s suite and Google Workspace, continued to reign across businesses while the use of so-called “best of breed” tools like Zoom, Slack, and Box also skyrocketed.
Some of the most interesting movements, however, came via a rising class of private-sector productivity-and-collaboration startups, which picked up new funding and sky-high valuations as they raced to take market share in a new world where remote work would be the norm. Some, such as Asana and Monday.com, even went public.
But now as the dust of the initial rush to remote work settles, it looks like the market is gearing up for a shakeout that could mint some startups as winners and others as pandemic blips. Companies have had time to acclimate to remote work and are feeling out which tools have served them best. Particularly as the market downturn forces companies to cut spending, many are evaluating which productivity tools turned out to be must-haves versus nice-to-haves they could do without.
Many companies were willing to spend big on such tools early in the pandemic because they we’re unprepared for the remote-work shift, Jody Shapiro, the CEO and founder of the software startup Productiv, which helps companies analyze which software and services their employees are using. But he said this is “the beginnings of rationalizing all of it, asking, ‘Should we have all these tools? And do we want to have multiple tools that serve similar-use cases?'”
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