Tech Industry Impact Update: Our Latest Survey Results Inside

Find out how COVID-19 is impacting tech firms as well as links to resources, articles and forum discussions about how tech businesses are responding to the pandemic and economic downturn. [CompTIA.org]( Last week, CompTIA completed its second survey to member tech firms, asking how COVID-19 is impacting business. Not surprisingly, the results highlight the evolving economic environment as well as the resiliency of the tech industry. First, the good news: Eighty-three percent of responding tech firms have seen an increase in new business opportunities since COVID-19 began. That’s up from 76% in late March when we first asked the question. What does that mean for the industry? Despite disruption, technology is needed now more than ever to support companies that are finding new ways to do business virtually. It’s no surprise that the mix of opportunities has changed. In March, when companies needed to make the shift to remote work, 38% of new business inquiries were related to moving operations from on-premise infrastructure or applications to the cloud; now 40% of inquiries are related to communications, collaboration or A/V technologies. For MSPs, the largest increase of new business opportunities came from cybersecurity—which jumped from 39% to 44%. But despite the bright spots, COVID-19 and the economic downturn has created uncertainty for businesses, and while the tech industry underpins how we work and live today, it is not immune to financial pressures. According to our respondents, between late March and late April, there was a significant increase in customers canceling or postponing spending, from 43% to 58%, as well as an increase in customers requesting a restructuring of contracts or payment terms, from 26% to 41%. More tech firms have also had to take staffing actions in efforts to keep their companies afloat, with 17% laying off full or part-time staff; 18% laying off contractors; 21% cutting back on staff hours; and 32% postponing hiring. (Another positive takeaway—13% have hired more staff.) It’s impossible to put an entirely positive spin on the situation, so I’ll leave you with this: When asked about their perception of the current environment, close to half of respondents said they feel optimistic, while the same portion said they feel less upbeat, but are hanging in there. To me, both statements could describe most of us, most days. There’s a reason the phrase, “We’re all in this together,” has become de rigueur for organizations everywhere—it’s because we are. Times are tough and could get tougher. But the tech industry is resilient, innovative, up for this challenge, and a bright spot for the economy. CompTIA is here to help you [seize opportunity where you can](, [support your customers](, [utilize any downtime you have to prepare your business for what’s next](, and [help you make it through this uncertain time](. It’s important to remember that we’re here for each other. That makes me feel a little more optimistic. Be well, Nancy Hammervik Executive Vice President, Industry Relations, CompTIA RESOURCES FOR THE TECH INDUSTRY - Find [free CompTIA resources]( about managing your remote workforce, cybersecurity preparedness, re-evaluating business strategies, and staff training. - Bookmark our list of [vendor promotions and free or discounted products and services]( for channel partners. - Connect and share valuable information about how organizations of all sizes are coping with the impact of the pandemic on business operations on our [COVID-19 Resources Forum](. You can also [find upcoming, virtual industry events, and add your own](. GOOD READS - Is now the time to upskill your staff? A growing number of CompTIA members are using downtime due to COVID-19 to invest in training opportunities with the intent of being better prepared to serve customers when business ramps up again. [Here are a few of their stories](. WORTH A LISTEN - CompTIA's Managed Services Community member Shannon Mayer leads a [discussion on business continuity plans and strategies, how to be there for your clients now, and opportunities and resources available]( to support you. - Plenty of organizations have had to pivot during COVID-19, including CompTIA. Hear Randy Gross, CompTIA's CIO and EVP of certification operations, [discuss the recent move to online testing, the details of the transition and the broader implications]( for the future of education. - Did you miss Carolyn April, senior director of research at CompTIA, on LinkedIn Live? Carolyn [discusses her Trends in Managed Services research and the opportunities and challenges that solution providers are facing]( right now. MARK YOUR CALENDAR - Join the CompTIA Communities on [May 29 for a webinar dedicated to investing in your organization’s most important asset—people](. - Register for [ChannelCon Online]( and join us Aug. 4-6 for three days of learning, connecting and developing the tools necessary to grow your business and prepare for a post-pandemic world. This event is free and open to everyone in the business of technology. CompTIA 3500 Lacey Road, Suite 100 Downers Grove, IL 60515 [Contact Us]( | [Unsubscribe]( View email [in a browser](.