ServiceNow, Inc. NOW recently announced collaboration with Cisco’s CSCO DNA Spaces to augment its Contact Tracing app to create a safer return to workplace environment amid the COVID-19 outbreak.
Cisco’s DNA Spaces is a location-based cloud platform that will provide location services like toolkits, and analytics to its customers.
By integrating DNA Spaces, ServiceNow’s Contact Tracing app can import location-based data of the employees. The app uses Wi-Fi network on the employees’ devices like mobile phones and laptops.
ServiceNow, Inc. Price and Consensus
ServiceNow, Inc. price-consensus-chart | ServiceNow, Inc. Quote
This will enable organisations to assess employee interactions and take quick informed decision if any employee is found to be infected to curb contagion spread at the workplace.
Contact tracing has been one of the most widely used methods to manage the spread of the coronavirus. It is the process of identifying and quarantining people who have been exposed to the disease to prevent further transmission.
These factors augur well for the latest offering and are anticipated to help it gain traction in the days ahead.
Reopening Economies Bode Well
The Covid-19 outbreak forced governments across the world to announce lockdowns, which prompted the work-from-home wave. Nevertheless, as the gradual unlocking phase begins, with economies re-opening and people commencing to go back to work, companies will need to ensure highest safety standards for their employees.
Markedly, employees are confident of returning to workplace only if they are convinced of their employers’ pandemic preparedness. Per American Staffing Association Workforce Monitor online survey performed by The Harris Poll, 79% of the respondents polled said that they were happy with their employers’ return-to-work plans.
This is making indispensable for other employers to put in place effective measures. In this regard, the demand for an effective contact tracing tool is likely to increase among employers to safeguard their employees.
This is likely to drive adoption of ServiceNow’s Contact Tracing app and boost the top line in the days ahead. It is also expected to instill investors’ optimism in the stock. Notably, shares of the company have returned 66.1% year to date compared with the industry’s rally of 23.3%.
At present, ServiceNow carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ServiceNow recently added a new Employee Travel Safety app to its ServiceNow Safe Workplace Suite, which boasts of more than 700 customers. Employee Safety App will help organizations to give employees a prior authorization for business travel based on the safety level of the destination. It will include contact tracing check-ins on everyday basis, and health verification beforehand to ensure minimisation of virus exposure.
Further, ServiceNow’s WorkPlace Suite and dashboard, launched in May 2020, deserves a special mention. Notably, ServiceNow Workplace Suite offers its customers various solutions like Workplace Safety Management, Employee Health Screening and Workplace PPE (personal protective equipment) Inventory Management along with the latest Contract Tracing app to make workplace environment safe as employees start returning to offices.
Tech companies are striving hard to capitalize on these evolving business opportunities due to the changing workspace needs amid the coronavirus outbreak. The tech companies are utilizing upcoming technologies like Big Data, AI, and Internet of Things for the management of the pandemic.
In August 2020, Workday WDAY and International Business Machines Corporation IBM jointly rolled out a return-to-work solution that combines IBM Watson’s AI capabilities with Workday’s HCM (Human Capital Management) system.
Prior to that, Microsoft inked deal with UnitedHealth Group to roll out ProtectWell Protocol and App to ensure safety of employees. The app is powered by Microsoft Azure, AI, Microsoft’s Healthcare Bot service, and analytics solutions along with UnitedHealth Group’s clinical and data analytics expertise.
Apart from these, Infosys, Everbridge, Pegasystems and Hewlett Packard have also unveiled their return-to-workplace solutions.
Given the plethora of safe workplace solutions, the competition in this market is likely to heat up in the coming days.
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