Many people have been looking forward to this moment with 2020 in the rearview mirror. It provides the opportunity for a fresh start.
As we embark on 2021, dealers need to be ready to deploy resources for three types of workers: mobile, remote and in-office. This is not a new phenomenon; to varying degrees, all three have existed and been supported for quite some time.
This mix of workers will continue to change and provide additional opportunities for dealers. While the tools they need are similar, they lean on them differently, and organizations need broader support and infrastructure. This will bode especially well for dealers that have begun to build out IT practices.
Growth Opportunities
There is a new set of dynamics at play with an increased reliance on technology and a decentralized workforce. New office technology is needed for remote and mobile workers, creating significant opportunities for savvy dealers. Here’s a look at some of the key growth opportunities:
- Managed IT—Dealers that have already established this practice are likely are seeing good real-time growth and are positioned to capture more significant gains in 2021. The decentralized workforce has heightened interest in this outsourced model. Those that haven’t executed on this need to make it a priority in the first quarter—it’s too critical that they don’t wait.
- Collaboration tools—In the past year, Zoom, WebEx and Teams have become household names. With high need and adoption, dealers have an opportunity to help organizations effectively deploy these tools, both in the office and at home. Think beyond the platform and consider all the components that create a productive and professional video conferencing experience. Much of the technology used for on-site conference rooms—bigger screens, microphones, high-quality web cameras and lighting—is being reimagined for the remote work environment.
- Voice—This remains a gap with the decentralized office. Workers are resorting to cell phones, which don’t transfer to a professional, branded experience for internal or external customers. Or they’re reliant on video collaboration tools for what typically would be an audio call. But this doesn’t have to happen. Bringing enterprise voice technology and its features to the remote worker is a significant opportunity.
- Cybersecurity—The number, and sophistication, of security attacks were skyrocketing before the pandemic. The vulnerability has only increased with a remote workforce. While the need is substantial, this likely is the hardest opportunity to execute. It requires specialized expertise and technical competencies to help organizations assess, detect, respond and protect their network. It is not simply a stand-alone service; a trusted security component is becoming an expectation with every service.
Executing on Opportunities
There is real-time demand for the key opportunities I just described and a short timeframe to execute on them. Three key ways to make a move include:
- Build— This is still possible, but more challenging given the timeline dealers now have to capture the opportunity. It takes talent and more time than the other two options.
- Borrow—There are a series of well-established players in the market that dealers can partner with to provide an outsourced solution. While this often is the fastest way to execute on a strategy, it limits enterprise value creation. Achieving results also requires careful selection of a partner.
- Buy—Acquiring a company that does these things well is a good strategy and could also accelerate the timeline. It typically takes the largest upfront investment, but can yield higher returns.
Doing nothing is not a good option. Owners who lack the bench strength, commitment or resources to execute on these also may consider transitioning their company and taking advantage of the current acquisition market. This can be an appropriate strategy.
Looking Forward
This is the quarter to make some big, bold decisions and commitments. The technology and demand are there. Dealers that accelerate their growth strategies and diversify their model will be more resilient and successful. Choose a strategy, start executing and make 2021 a year of positive change.
