The pandemic ripped off the Band-Aid for collaboration. Hybrid and completely remote environments drove businesses to adopt new ways of working. Videoconferencing, virtual events, and collaboration capabilities surged. One by-product is the red-hot acquisition market for these technologies. Most recently, we saw Adobe’s intent to acquire Frame.io, a company that makes video collaboration software.
While the acquisition focuses on video, it rounds out Adobe’s collaboration capabilities. It extends them to the final frontier of video — a medium that has been notoriously difficult to collaborate within.
The acquisition also signals that Adobe is serious about enabling collaboration in creative workflows. In addition to concepts like creative systems and features like creative libraries, it has been acquiring companies.
Late last year, Adobe acquired the marketing workflow company Workfront. With that acquisition, Adobe will now have spent approximately USD2.8 billion acquiring collaboration and workflow companies in the last year. These are the first significant acquisitions since its 2018 Magento and Marketo acquisitions for marketing automation and e-commerce capabilities.
Why is Adobe leaning so hard into workflow and collaboration? Because there’s a big opportunity to smooth the rough edges of many creative workflows, and it’s going to be essential. Seventy-five percent of CEOs said that they expect their office spaces to shrink in the future because of anywhere work. Other leaders recognize that their technology investments haven’t positioned them for successful anywhere work. Forrester’s Q3 2020 U.S. Future Of Work Survey found that only 52% of U.S. employees agree that their company has the technology resources to allow people to work from home as necessary.
But the outlook for Adobe isn’t all rosy. Potential challenges with its collaboration strategy include:
This all gets easier if Adobe can weave Frame.io capabilities into other products (much like Workfront) rather than a standalone product.
The original article by Forrester’s principal analyst Andrew Hogan and senior analyst Nick Barber is here.
The views and opinions expressed in this article are those of the author and do not necessarily reflect those of CDOTrends. Image credit: iStockphoto/DGLimages