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REFFIND eyes WooBoard commercialisation to cash in on COVID-19 opportunities

Summary

  • REFFIND Limited (ASX:RFN) is witnessing a series of commercial opportunities amid the highly challenging COVID-19 global pandemic and macroeconomic environment.
  • Flagship peer recognition and employee experience technology platform WooBoard is a ground-breaking offering that is suitably positioned to reap benefits from the current shift towards remote working.
  • WooBoard is leading the way in keeping employees happy and engaged through its unique features and generating meaningful recognition.
  • The fast-growing commercial opportunities for cloud-based platforms seem encouraging for the Company’s growth.

Software as a Service company REFFIND Limited (ASX:RFN) is focused on making the most of the commercial opportunities for WooBoard, presented in recent times amid COVID-19. Over the past few months, there has been a wholesale transition towards mobile and remote working environments, moulding the operational environment for the Company’s target sectors.

Important Update: REFFIND Envisions Substantial Value Addition for Investors through Strategy to Bid for Loyyal Assets

Finding Opportunities Amid Challenges

The changes propelled by COVID-19 and a challenging macroeconomic environment have led to a substantial period of activity for REFFIND across its key offering and investments. This has empowered the Company to capture the opportunities amid the growing trend of significant transition towards mobile and remote working environments.

Its key offering is revolutionary employee recognition platform WooBoard, which helps in keeping employees happy and engaged through unique features.

Interesting Read: 3 Reasons Why Recognition is Important at Workplace; A Look at REFFIND’s Recognition Tool WooBoard

WooBoard is a breakthrough technology-enabled employee recognition tool, known for its unique and customisable features encouraging daily interaction and generating meaningful recognition while boosting employee engagement.

Being a fun, simple and lightweight solution, WooBoard helps to foster a positive and enjoyable team environment. It highlights all the amazing jobs that employees are doing while motivating others to develop positive competition.

Did you Read: REFFIND (ASX:RFN) Releases FY20 Report, Highlights Opportunities across Mobile and Remote Working Environments

Commercial Opportunities Emerged Amid COVID-19

Over the period, the Company’s focus has been on the value-accretive commercial opportunities that have emerged from the challenges presented by COVID-19. A highly significant Strategic Review concerning WooBoard was concluded during April 2020, subsequent to which the Company identified various recommendations.

Moreover, RFN immediately started implementing these recommendations, one of them being an extension of the trial period for the WooBoard platform.

Related: REFFIND’s WooBoard to Gain from Deployment as Essential Service in Fast-Growing Industries

Subsequently, its focus shifted towards making enhancements to the platform that enables WooBoard to be positioned as a suitable application in a post-COVID-19 scenario, especially for remotely working employees by empowering them to collaborate seamlessly and securely.

RFN Focusing On Growing The Overall Subscriber Base

RFN believes that there have been fast-growing commercial opportunities for cloud-based platforms as their application to several organisations has increased due to the digital transformation in response to the pandemic.

The Company remains optimistic about the prospective commercial opportunities for WooBoard, stemming from an accelerating shift towards digital and remote work operations across multiple sectors and industries. Moreover, RFN seeks to convert opportunities among domestic as well as global small, medium and large businesses.

Interestingly, the Company has started gathering and aligning resources for the effective execution of its vision regarding WooBoard while focusing on growing the overall subscriber base and paid user conversions. This would further help to develop customer retention as well as nurture loyalty among a growing pool of engaged users.

Interesting Read: Creating Winning Environment for Employees in the Era of Digital Workplace Through ASX-Listed REFFIND’s (RFN) WooBoard

Notwithstanding the challenges in the operational environment arising due to COVID-19, RFN remains on track with its commercialisation strategy that is intended to broaden the WooBoard platform.

All in all, RFN believes that its WooBoard is suitably positioned to cash in on the ongoing commercial opportunities in the present scenario.

Latest Update: REFFIND (ASX:RFN) receives ASX nod to bid for Loyyal assets

On 19 November 2020, RFN share price quoted at $0.002.

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