Wooboard Technologies, ASX:WOO, is an Australian tech company that provides an employee engagement platform. In the last quarter of 2020 the company signed trials with several iconic multinational companies including the Walt Disney Corporation, Lululemon and Deliveroo.
Work from home has become a mainstay of the modern workforce. Organizations are looking to adapt to the new remote working environment. A pulse survey conducted by Bersin Academy, CultureX and Waggl with 400 HR leaders found that 17% of the respondents considered keeping remote employees engaged as a significant challenge1. Wooboard Technologies provides a solution to tackle this challenge. The company provides a platform that helps keep employee's engaged, through a framework that allows for peer recognition, positive motivation and rewards.
Wooboard is listed on the ASX and is a small market company. Its recent trail agreements with large scale corporations is a positive sign for the company's future. As companies recognize the need to update their environments and infrastructure to suit remote working, companies that provide aligned solutions are seeing a positive impact on their share prices.
The Zoom Comparison
At the start of 2020 Zoom's shares were worth USD 67.28, currently their share price is at USD 416.41. What Zoom did for video conferencing and communication, Wooboard hopes to accomplish for employee wellness and engagement. In the post-Covid work from home economy, Wooboard seems primed to gain a significant boost in its market cap and evaluation.
About Wooboard Technologies
Known formerly as REFFIND limited, Wooboard Technologies is an Australian company. The company offers cloud based SaaS (software as a service) products. The primary focus of these products is to help organizations communicate with employees more effectively and in a more engaging manner. Their primary product is an employee engagement platform called WooBoard. The platform has a $3 per user/per month plan, that can be used by companies with less than 200 employees. Organizations with more than 200 employees can contact the company for pricing information.
Other solutions offered by Wooboard Technologies include Loyyal, a solutions that uses blockhain technology to allow organizations to manage incentives for employees. Loyyal is being used by companies like Deloitte and Emirates. Another solution is Employee Recognition that enables peer-to-peer employee appreciation and recognition. The solution encourages daily interactions and helps teams stay connected
Working from home can be a difficult transition for some employees. Organizations find it difficult to maintain a work culture and regular communication with employees when they are working remotely. The solutions provided by Wooboard can help organizations tackle these challenges and ensure employees remain engaged even when working remotely.
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Sources:
1. D. Sull, C. Sull and Bersin J, 'Five Ways Leaders Can Support Remote Work', MIT Sloan [online] available from: https://sloanreview.mit.edu/article/five-ways-leaders-can-support-remote-work/ [Accessed Feb 2021]