Have you just checked the company diary to arrange a face to face meeting with a colleague only to find daily entries littered with “WFH”, heat mapped on the screen by its bright category code colour? If you are not conversant with the acronym, then you may be about to find out the hard way, out of necessity to self-isolate or prevent physical interaction with co-workers, clients or the commuting public.
Working from home and mobile working, now enjoy maturing remote working technologies that have to balance corporate security with mobility, where access to company applications and data resources are exposed to the threat of vulnerable connectivity. Products with valuable licensed content have always been subject to rigorous protection measures, including many lock down methods to identify companies and individual users by location and identity tracking. Many of these methods are hard wiring suppliers' applications or services to physical office locations, which is effective under normal conditions but represents a significant operational risk at times when office access is compromised.
Loss of access for short periods may be manageable in the scheme of things but prolonged inability to carry out day to day activities can ultimately be ruinous for firms whose services are essential to the markets they serve. Strategically important vendors to industry recognise their obligation as a guardian of operational integrity and have developed several degrees of resilience in their infrastructure, not only for machine to machine processes but also for users, whether they are employees or client end-users. Remote working technology and recent developments in biometrics and personal identity validation, frequently including MFA, multi-factor authentication, are aligning for both employees of firms and in the products they offer.
Detaching place of use to follow the user is now supported by viable technology that is enabling the future of information delivery at the personal device level for both individuals and company workers, where the crossover is becoming increasingly blurred. There are a number of market leading brand vendors that still tie professional trader users to office locations but that will be repeatedly challenged to upgrade their offerings in the coming weeks and months as the world responds to the Covid-19 virus, where the core advice is to keep yourself out of harm's way or keep yourself from passing it on. Either way, any firm's business operation that demands a physical presence in the office will face material risk of failure in execution of its contractual obligations, when its employees cannot or will not be present to carry out their duties, when many others and competitors still can, where they have provided viable remote working solutions.
The modern saying of "work was somewhere you used to go" is now "work is something you do", will persist long after Covid-19 has dissipated, leaving a potentially positive legacy in the aftermath of its acute personal health, business and economic impacts felt today.
If you find yourself remote working, Euromoney TRADEDATA's flagship product ViewXone is an essential remote workflow solution for front and back office users in trade operations, client support, risk and compliance.
Register for our webinar: Derivatives workflow that moves wherever you are
In this webinar, the ViewXone web application will be presented to highlight its powerful search to access detailed global data sets covering exchange traded contracts, symbology and regulatory reporting.
© 2020 Euromoney TRADEDATA is part of the Euromoney Institutional Investor PLC group. All rights reserved.