Remote working is booming thanks to the coronavirus; here are a few stocks that want to cash in
Link copied to
Thousands of people worldwide are being forced to work from home in an effort to contain the rapidly spreading coronavirus.
Bloomberg has labelled this the world’s largest work from home experiment in history.
One company that has been a winner is American-listed Zoom Communications (NDQ:ZOOM) which rose from $US73 ($112) to $US105 in the last month.
The company revealed last week it added more monthly active users so far in 2020 than the entire 2019 calendar year. CEO Eric Yuan put this down to the virus.
And just who on the ASX is seeking to capitalise on this?
There’s no shortage of telcos but a handful have innovative solutions that could capitalise on the rise of remote working.
One of these is business-focused internet provider Vonex (ASX:VN8). The company is launching a platform “Oper8tor” which will allow users to communicate across platforms (such as Skype, Zoom and WhatsApp) regardless of whether or not they are using the same platform.
Another is Netlinkz (ASX:NET), which has a technology allowing organisations to do business over the internet using a network solution that is generally invisible.
The company’s technology was selected by the Beijing municipal government last month to provide remote information-sharing services as part of an effort to contain the virus and get China back to work.
While it can work with face-to-face meetings as well as remotely, intelligent workplace software LiveTiles (ASX:LVT) last year launched an Intelligent Meeting Suite.
The company says it’s a world first AI solution that integrates with platforms such as Zoom to transcribe conversations, capture action items and meeting insights and present them in a concise, editable summary.
It also uses predictive analytics to arrange an ideal meeting time.
When announcing the product, LiveTiles cited a study showing professionals spent two hours a week in unproductive meetings, which cumulatively amounted to 24 billion hours a year and $US541bn in wasted effort.
Voice recording software vendor Dubber (ASX:DUB) offers call recording and AI-insight services. These can be integrated into its clients’ own systems.
In early February, Dubber signed an agreement with Telstra giving the telco giant’s customers access to Dubber’s software.