Cautious optimism

Cautious optimism

Dear Partners,

As we officially start the summer months, we are keeping a close eye on COVID-19 case reports and health advisories in the communities in which we operate. I am cautiously optimistic that the worst of the health and economic crisis is now behind us.

Open for business
This week Nexway began a gradual re-opening of offices, starting with its sites in France. We did this in compliance with recommended guidelines for office cleaning and employee health and hygiene measures to reduce risk of contamination.

Recognizing that circumstances are still tenuous, at this time we are giving our employees the option to either return to the office environment or to continue to work from home. This choice allows us to provide flexibility to staff who need it, while slowly testing the sustainability of the reopening.

Impact on business
As I reflect back on Q2, I am extremely proud that we came together as a business and kept the ship steady. The crisis undeniably had a sudden impact on Nexway customers and our revenue projections. People around the world also learned firsthand that e-commerce is an essential way to get products to the people who need them.

Stigmas were lifted. Barriers were broken.

So as hard as the economic crisis has been for some, for many others this period of thinking differently has brought new customers and advances in buying habits. Nexway ends the quarter on solid footing and is optimistic that we will continue to leverage the evolution of the ecommerce sector in the back half of the year.

Green shoots of opportunity
The broader e-commerce market is experiencing a period of resurgence post-COVID, as companies of all types are waking up to the need for a great digital purchasing experience. Customers demand it.

Driving this point home, a CEO study published by Gartner* rallied business leaders to: Accelerate the building of digital competencies into the company’s core, making it default “business as usual.” Shift resources from traditional business methods and models into their newer digital replacements. Close, sell or exit activities in digitally imperiled markets.”

Our own proprietary research indicates that customers’ digital experience with brands are now of primary importance. In a recent survey we conducted into e-commerce and payment priorities for the period immediately following the COVID-19 crisis, decision makers and suppliers alike told us that overall their top priority was customer experience.

Therefore, Nexway’s priority for Q3 will be to demonstrate how our customer-focused portfolio can deliver value to companies evolving their sales approach towards a digital dominant strategy.

We are confident that our unique blend of technology and services make Nexway the perfect partner for building new growth opportunities in the back half of 2020, and very optimistic about the years to come.

Victor Iezuitov

*Source: 2020 Gartner CEO Survey: The Year of Recession (May 2020)