Zoom executive says hybrid work will continue to drive growth after the pandemic
Zoom will continue to be relevant after the pandemic even when people return to the office, according to an executive from the video communications company.
More organizations are moving toward a hybrid work model in which employees work both in the office and from home each week.
“I think there are three big shifts that are happening post-pandemic that businesses are investing in and that’s spurring our growth and relevance,” Ricky Kapur, head of Asia Pacific at Zoom, told CNBC’s “Street Signs Asia” on Friday.
First, companies are thinking about creating inclusive, collaborative and hybrid work environments for staff, he said.
“Employees are demanding flexible work arrangements and the ability to work frictionless, irrespective of where they are,” Kapur added.
Second, companies are reimagining customer engagement experience, with consumers demanding more convenience.
“Whether it’s a retail experience, the ability to live feed into the store and speak with a live person — see a product, have a real conversation, and then make a purchase decision. Consumers are expecting that from companies,” he said.
The third big shift is that digitally native companies are building innovative platforms to create services that reach out to new consumers, especially in areas such as health care and education, according to Kapur.
Millions of people used the company’s technology over the past two years to keep up with school and work or to socialize. But growth slowed as people returned to work and school in person.
Zoom’s revenue rose by 35% from a year earlier in the quarter ended Oct. 31, down from 54% growth in the quarter before.
But Kapur remains optimistic that as people move into a hybrid setting, they will continue to look for flexibility in the way they communicate.
He added that Zoom’s “mobile and frictionless” business has grown “from zero to 2 million users in under two years. It’s one of the fastest-growing cloud services.”
“The numbers tell us that customers are still investing and continuing to invest in Zoom post-pandemic,” he said.