I have now heard the following on three earnings calls from three different digital transformation company’s CEOs and it’s worth quoting verbatim (this one from Twilio, but also from DDOG and CRWD)
“the disruption from Covid-19 is probably the biggest possible accelerant TWLO could have ever asked for.” – Cowen
We are experiencing a historic paradigm shift as meaningful to the 21st century as the assembly line was to the 20th century. In fact, history books may declare digital transformation to be the fourth leg of the industrial revolution. And Covid-19 is playing a significant part in this paradigm shift by accelerating cloud adoption by way of the work-from-home mandate. The revolution could have taken years or even decades, but we are seeing it play out right before our very eyes in weeks and months.
While the pandemic and the government’s response has taken a tragic toll for many businesses and individuals, companies at the heart of the digital revolution are positioned to benefit profoundly. One such company is Twilio Inc. (TWLO), a leader in cloud-based communications. The company management estimates that there are 15 million contact center seats and only 17% were in the cloud prior to the pandemic. It is anticipated that this figure will increase to 50% by 2025 and Twilio will be in a great position to assist companies with the transition.
