Digital transformation has accelerated at an unprecedented rate during the pandemic, compounding long-term tech trends, say Permira principal Andrew Young and partner Michail Zekkos.
Q: What impact has covid had on the pace of digital transformation? Michail Zekkos: Covid has acted as an accelerator for structural themes that our Tech team has been investing behind for years. That acceleration in response to lockdown restrictions has been profound, allowing us to work and educate our children remotely, keep us connected, consume digital media and buy products online.
We have been operating using digital infrastructure like never before. In April, Microsoft CEO Satya NaDella was quoted saying he was seeing two years of digital transformation in two months across remote teamwork, remote learning, sales and customer service, critical cloud infrastructure and cybersecurity.
At Permira, we have seen how this transformation is playing out in each of these six verticals. Our portfolio includes TeamViewer in remote working; Curriculum Associates in remote learning; Allegro and Seismic in remote sales; Genesys in remote customer service; Teraco and Informatica in cloud infrastructure; Exclusive Group in cybersecurity; and our most recent investment in Clearwater enabling cloud reporting for financial services clients.
Those businesses are continuing to see strong growth as customers adjust their operations, supply chains and go-to-market strategies in light of this new, remote environment.
