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- As corporations adapt to the growing work from home (WFH) economy, software-as-a-service company Wooboard (WOO) is tackling its downsides
- The company’s main product is an employee experience platform, designed to address employee wellness needs and provide peer recognition
- Such solutions are especially necessary now, as companies struggle to maintain an engaging workplace culture with remote workers at home
- Several major multinational corporations, including the Walt Disney Corporation, have signed up to trial Wooboard’s employee engagement technology
- With a platform primed for the post-COVID workforce, this small market cap company could, like Zoom, become the unexpected success story of the WFH economy
As corporations adapt to the growing work from home (WFH) economy, software-as-a-service company Wooboard (WOO) is tackling its downsides.
There’s no denying that the COVID-19 pandemic has dramatically transformed how we live over the last year. With the advent of various vaccines, there may be light at the end of this tunnel, but the world that awaits us at the end will look very different to the one we left behind.
This applies in particular to how we will exist as workers in a post-COVID world. Since the pandemic sent countries into various states of lockdown, large corporations have had to grapple with their workforce operating remotely from home.
Many employers previously considered this either impossible or unacceptable, an opinion that has since been disproven in 2020. The promise of remote working and tele-working has been given an unexpected world-wide trial, and has been shown to be both logistically and culturally viable for many.
Employers now have to admit that they can allows some workers to work from home, and are likely to continue doing so, even after COVID-19 lockdowns become a thing of the past. So what does this mean for investors?
Some companies got ahead of the remote working trend, and are now poised for greatness in the post-COVID, WFH economy. Perhaps the most recognisable is Zoom, a U.S. communications technology company that provides videotelephony and teleconferencing services.
Zoom quickly became a household name during the first wave of COVID-19 lockdowns, sending the company’s market cap through the roof.
At the beginning of 2020, Zoom’s shares on the NASDAQ were worth US$67.28 each. The company’s shares on the exchange are now worth US$391.94 — over five times what they were worth 13 months ago.
Thanks to a world that sent its workforce to work from home, Zoom’s market cap is now over $114 billion.
The WFH economy has provided unexpected positive impacts in other areas, too. It has made stable employment more accessible to people with disabilities, reduced traffic and its related environmental damages, and changed the reality of office real estate.
However, under the microscope, working from home still comes with its own sets of challenges.
Wooboard’s solution
With their workers no longer physically present, employers are facing issues around engaging employees, managing their communities, and maintaining a workplace culture.
How can they address employee wellness through a screen and laptop microphone? As the WFH economy becomes more of a normality, these are challenges which countless corporations will have to find solutions for.
Enter stage right: Wooboard Technologies, a little-known software-as-a-service company on the ASX. The company’s main product is an employee experience platform, designed to address employee wellness needs and provide peer recognition.
The technology provides a framework through which companies can engage, positively motivate, and reward their workers.
In the last December quarter, Wooboard has signed several major multinational corporations to trial its platform. These include the media giant Walt Disney Corporation, Canadian clothing brand Lululemon, food delivery app Deliveroo, and the US Department of Agriculture.
With such high-profile partners trying out its platform, Wooboard looks set to become the Zoom of employee wellness.
Despite being an undervalued, small market cap company on the ASX, Wooboard has a platform that is primed for the post-COVID workforce. If addressing the wellness needs of remote workers will be the next big investing trend, then this humble software business could become the unexpected success story of the WFH economy.
