Sales of software programs are already being affected by the pandemic, as seen this week in the disappointing results of Slack Technologies, makers of the popular program for team collaboration.
It turns out, when companies are cutting staff, they have less need for such programs.
But it turns out there is a way for a nimble software maker to thrive in the current era, namely, by bringing valuable tools to very specific parts of the market.
Such is the case for thirty-year-old software vendor Prophix, based just outside of Toronto, Ontario, in Mississauga. The company sells software for the finance department of mid-sized companies for evaluating financial data and performing forecasting.
Prophix’s tools are designed to be much more accessible than general ledger programs from giant vendors such as Workday and Oracle, for the finance department that doesn’t have access to teams of analysts. Most of Prophix’s clients are