The business impact of COVID-19 …

We continue to do research on, talk with industry leaders about and write on “the business impact of COVID-19” here at Security Systems News, and, well … actually … have had the topic loom as the backdrop for most, if not every, conversation we have these days. And for good reason!

While there are obvious and real challenges we all face during these times, the continuing flow of new research, like the latest white paper from Axis Communications, shows that change and disruption also drive innovation and push technology forward at a quicker pace than we could have imagined pre-COVID.

Axis Communications’ findings from their U.S. Partner Integrator Survey reveal how system integrators and their customers are responding to the COVID-19 crisis amidst uncertainty and instability in the marketplace.

The survey of 455 security professionals cited that end-customers will be more willing to explore IP-based solutions (58 percent) and the acceptance of AI will accelerate (45 percent) following COVID-19 crisis, two takeaways that I feel are very exciting!

“The pandemic demonstrated a clear understanding that technologies that support business continuity and employee safety should be top of mind for everyone within the organization, not just security professionals,” Axis Communications VP of Americas Fredrik Nilsson said in the announcement. “Our study revealed the resourcefulness of professionals within the industry as well as the flexibility of IP solutions and our partner ecosystem. Accordingly, there’s a clear interest in, and increased acceptance around, the potential for integrated solutions that solve long-term security needs, enhance business operations and address health and safety measures.”

According to security professionals, respondents cited economic recovery in general (67 percent), supply chain management (49 percent), losing customers (37 percent) and shifting business models (30 percent) as the biggest business concerns due to the COVID-19 crisis.

While 53 percent of system integrators stated a decrease in business during the pandemic, the study found that because they are designated as “essential critical infrastructure workers,” the majority of integrators continued to work on projects the entire time and remain on the frontline serving end users amidst COVID-19 restrictions (70 percent). Twenty-eight percent of security business leaders cited that they have invested in digital transformation of workflows to address challenges amidst COVID-19 and support new, remote business operations.

“The results of our Partner Survey demonstrated that while there is still uncertainty about the evolving business climate, a strategic approach to technology adoption and integration is pivotal,” said Nilsson. “These insights help Axis to better support our partners and to provide pragmatic, innovative IP security offerings that drive long term return on investments for our customers.”

According to the survey, security professionals cited that their end-customers were most concerned with:

• Economic recovery in general (57 percent);
• Human resource issues (43 percent);
• The ability to function remotely (42 percent);
• Cost of ownership on long-term investments (25 percent);
• Short-term return on investment (21 percent); and Cybersecurity (19 percent).

As businesses look to reduce COVID-related risks, security professionals cited the following concerns as being increasingly important for end customers to address:

• Remote monitoring to lower personal contact (49 percent); Access control for contactless entry (49 percent);
• The adoption of analytics for crowd management (35 percent);
• Reduce high-traffic areas with heatmapping solutions (32 percent); and
• Curbside pickup with analytics (23 percent).

Axis’ Partner Integrator Survey included data from 455 security business leaders from across the United States that operate in a range of industries including education, government, retail, healthcare, transportation, hotels, stadiums and law enforcement.

Click here for access to the full white paper.