Tue, 28-Jun-2022
Wednesday 01 Jul 2020 , 1:59 pm

With Support from Various Service Providers, Work from Home Culture is Becoming a New Normal

Companies are made to adopt virtual workspace culture due in COVID-19 pandemic. For seamless virtual workflow, these companies need services related to adopt technology, secure data, manage workflow and maintain the employee safety.
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A recent COVID-19 CFO Pulse Survey by PwC notes that 54% (more than half) of companies are planning to make remote work culture a permanent option for roles that allow. With this shift in work culture, some companies are still trying to adopt the virtual culture. They are looking for solutions to streamline the virtual work process and maintain the employees’ engagements. For them, tech companies are seen providing solutions according to the requirement.

Workato, the enterprise automation platform, is helping businesses to adjust to the new reality of work. The company announced that its autopilot is being offered for 6 months at free of cost. Autopilot helps with employee wellness, enabling productivity through collaboration, communication, and productivity platforms like Microsoft Teams, Slack, and Workplace from Facebook.

In a press statement, Vijay Tella, CEO of Workato stated, "The three biggest concerns we hear from our customers in this new landscape are: 1. How do we ensure the well-being of our employees, 2. How do we provide business continuity as government guidelines and work environments change, and 3. How do we rapidly adapt our business processes to support the dramatically altered ways in which companies and their customers must work today and going forward".

"Companies in the Asia Pacific region began confronting these challenges much earlier and can help predict what life may look like when we start transitioning out of the stricter lockdown we have been under in the United States. We hope by releasing solutions we created for our Asia Pacific customers over the past three months, it will help businesses with the 'now' and the future", he added.

LoanPro, also recently stated that banks, lenders, and loan servicing companies are turning to LoanPro to seamlessly transit their servicing teams to work from home. LoanPro provides a fully-cloud-based lending platform that is designed to automate, simplify, and streamline loan management workflows. Rhett Roberts, CEO at LoanPro, said "LoanPro has enabled both our lenders and loan servicing partners to successfully transition their teams to work from home environments with low to no downtime."

WFH seeks investment results, before fees and expenses, which track the Solactive Remote Work Index. Considering the situation, Direxion announced last week that it has expanded its range of buy and hold ETFs with the launch of the Direxion Work From Home ETF. This is the ETF with a strategy designed to provide investors with comprehensive exposure to firms at the forefront of the worldwide, societal transformation towards greater adoption of flexible work.

On the occasion, David Mazza, Managing Director at Direxion said, "WFH meets the demand of investors looking to gain diversified exposure to firms providing the technologies helping to improve data security, facilitate on-demand access, enable virtual collaboration, and empower digital connectivity." 

According to US Census data, 5.2% of US (or 8 million) people worked from home in 2017. With COVID-19 pandemic affecting 213 countries, areas and territories. Even if many regions are reopening from long term lockdown, some companies are still preferring work from home to keep their employees safe. Trends toward more flexible workspace have increased over recent decades because technology allows greater remote productivity. Society has embraced the fact that a work-life balance does not require certain job functions to be performed in a conventional office setting. Looking at the scenario, industry analysts are predicting the scope for exponential growth of the virtual workspace management market in coming years.

Neha Mule

Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.

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