Here’s the Real Reason Remote Work is Here to Stay

Blog Image for Hero Section
Here’s the Real Reason Remote Work is Here to Stay
Blog Content

When COVID-19 was declared a pandemic by the World Health Organization, many businesses around the world suddenly found themselves having to accommodate remote working arrangements for the sake of their employees’ and the public’s health. The transition has proven challenging for both businesses and employees.1 But remote working can boost morale, productivity, and savings,2 while also supporting the goal of environmental sustainability3 --provided it’s done correctly, using the necessary technological tools.

Many employees suspected as much long before the pandemic, and
over the last few years have increasingly been seeking out flexibility in the workplace.4 And the technology is there to accommodate the demand. While no one would have picked a global pandemic to catalyze a remote work revolution, it appears that is precisely what has happened. The novel coronavirus outbreak is exposing more people to working remotely than ever. Many will grow accustomed to the benefits, and businesses wishing to stay competitive in the race to attract talent will have to continue supporting it going forward.

Thus far, remote work appears to be a good thing for business. As McKinsey points out, working remotely can boost productivity by boosting morale: “Employees who spend less time travelling or commuting and have a better work-life balance are likely to be more motivated and ready to mobilize in extreme situations.”5 The remote work “experiment” mandated by the coronavirus pandemic could put to rest any lingering doubts that workers can be productive and motivated outside the traditional office.

Our hope is that for the outbreak and resulting worldwide pivot to remote work will prove the viability of remote work, not just as part of a fully functional business continuity plan but also as part of a business-as-usual business plan. Here at Exela, here are some of the solutions we offer that can help make that happen for your business:

As you work through these challenging times, we hope you’ll find this glossary of COVID-19 terms helpful. For more on the topic of remote work, you’ll want to check out COVID-19: A Tipping Point for Remote Work, a special edition of PluggedIN, Exela's thought leadership news magazine, providing fresh insights from the cutting edge every quarter. We’re offering it absolutely free.

Subscribe. Plug in. Upgrade your mind.


  1. https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/a-blueprint-for-remote-working-lessons-from-china
  2. https://globalworkplaceanalytics.com/brags/news-releases
  3. https://www.capital-ges.com/the-environmental-benefits-of-remote-working/
  4. https://www.fastcompany.com/90481356/were-in-the-midst-of-a-massive-work-from-home-experiment-what-if-it-works
  5. https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/a-blueprint-for-remote-working-lessons-from-china
Author Name
Lauren Cahn
Date
Hashtag(s)

Business Continuity & Disaster Recovery

Prepare for business as usual.

Business Continuity & Disaster Recovery

Don’t let a lack of preparation be the reason that an unforeseen event turns into a crisis.

Exela’s contingency specialists will help create a disaster recovery plan that mitigates your risk and supports your business at all stages – from preparation and prevention to reaction and recovery.

Experienced contingency specialists.

Threat-detection monitoring systems.

Emergency preparedness through stress testing and live drills.

Data redundancy systems and backup processing centers.

Threat Detection

Automated systems continuously monitor and provide real-time tracking of weather events, supply chain and logistical issues, social and political activity, and potential cyber threats.

Hub & Spoke Model

Our hub and spoke model protects data and builds in process redundancies by creating a central platform (the hub) hosted and maintained by Exela, which operates alongside client-run sites and specialized disaster recovery sites (the spokes).

Special Purpose Vehicle Model

To protect against insolvency or inability to perform, Exela will set up a “Special Purpose Vehicle” (SPV) company that services a small percentage of total processing volume with the ability to ramp up to 100% coverage in the event of total insolvency across your vendor network.

Omni-Channel Notifications & Alerts

Exela’s communication systems enable secure rapid notifications and alerts across SMS, email, phone, web conferencing, and remote alarm systems.

Preparedness Testing

We conduct extensive stress testing of both systems and procedures, recording tests, and staff training and drills to ensure full readiness.

Communication Redundancy

Exela’s print and mail services, fulfillment and shipping, document finishing, call center operations, and last mile redundancy ensure process and data functionality in the face of a power outage or network disruption.

Industry Credentials

Putting Security First in Digital Transformation 10 Questions You Need To Ask

Blog Image for Hero Section
Operations
Blog Content

When choosing a digital transformation partner, you’re not merely choosing a vendor of software or a provider of services. You’re choosing a partner with whom you’ll construct a vision for the future of your business. Security is integral to that vision. Here are some questions to ask of, and issues to address with, your potential digital transformation partner to determine if they’re up to the task:

Which laws, rules, regulations, guidelines, etc. (“guidelines”) apply to my enterprise’s systems and the data stored on those systems?

Your digital transformation provider will be able to compile a complete list of all guidelines applicable to your particular type of organization, your industry, where you do business, where data is being delivered and where it’s coming from, and who and where the end users are located. Here are the guidelines your digital transformation provider should, at a minimum, be aware of.

Describe your level of compliance with guidelines.

Your digital transformation provider will be able to compile a complete list of all certifications, registrations, accreditations, and the like, what they mean, and why they’re necessary. Here’s ours, and stay tuned for a much more in-depth discussion of that next week on the Exela Blog.

What mechanism do you have in place for staying abreast of changing guidelines?

This is always an important question, and your digital transformation provider should have a regular process by it stays current on what guidelines are applicable, whether and how they’ve changed, and what changes must be employed to comply therewith.

What security technologies do you currently deploy?

This could include software, encryption methods, digital firewalls, etc. Which of these are proprietary versus third-party provided? What mechanism are in place for keeping up with the latest security technologies? What’s next on the horizon right at this very moment? What challenges do you see as a result of current technological limitations?

Who is your security team comprised of?

Who is in charge of leading the security team? Which departments are involved? What is the structure, and who reports to whom? How does the team interact with my enterprise?

Which of your staff members will interact with mine in connection with systems and data?

Will they only be employees? Or might they be consultants? What security clearance is required such persons on board with regard to this particular project/set of projects? What training/education do you require of such persons with regard to system and data security?

What security measures are in place at the facilities where you provide systems, storage, and/or services?

What methods are employed for monitoring the security at such facilities? Who has access to such facilities, how is access determined, and how is access enforced? These questions should address both physical security of facilities and equipment and user credentials. Learn about Exela’s secure MegaCenters here.

What are your system change controls?

In other words, what is the procedure for modifying/patching relevant systems, notifying affected parties, minimizing adverse impact?

What sort of monitoring are you doing to identify security threats before they become incidents?

How often are you auditing the systems under your care? How do you detect potential breach incidents? What is your standard breach response procedure?

What are your disaster recovery contingency plans?

What disaster recovery policies apply? What alternative processing methods are utilized? How often are these reviewed and updated? Here are some of the solutions Exela offers our customers with regard to business continuity and disaster recovery.

Stay tuned for the last post in this series on Leveraging Cybersecurity to Master Your Domain, in which we address the security standards Exela meets for itself and its customers. If you missed the earlier posts in this series on cyber security, you can catch up here on:

Gotta read it all now? You can download the entire series as a flipping-book here.

In the future, be sure to subscribe to Exela’s quarterly thought leadership publication, PluggedIN for up-to-the-minute news and views on topics that matter to you.

Author Name
Lauren Cahn
Date
Hashtag(s)
Industry Solutions

Cloud-Based Remittance Processing

Case Study Featured Content

How one bank used Exela’s cloud-hosted transaction management system improve remittance processing and ensure business continuity

Case Study Image for Hero Section
Finance & Accounting
Features & Benefits
CHALLENGE:

A leading midwestern bank had remittance processing operations spread across multiple bank-operated processing centers, using onsite software and hosting solutions that required costly maintenance and data synchronization procedures. Processing volumes were down and this made it difficult to justify the high costs of dispersed operations. Additionally, the bank was exposed to a high degree of risk in the event of a disaster, due to a recovery model that included the use of an unstaffed third-party site several states away.

SOLUTION:

Exela migrated the bank to a “hub-and-spoke” model, leveraging our cloud-based remittance processing platform, which includes proprietary scanning and data management systems. The platform is hosted and maintained by Exela at a secure, fully redundant processing center (hub). The bank was able to reduce its bank-operated sites down to one (spoke), which eliminated much of the bank’s overhead and its management burden related to remittance processing. The flexibility inherent to this operating model, and the associated transaction-based pricing, allows for Exela-processed volumes to ramp up and down as needed.

Implementing the hub-and-spoke model also allowed for a small percentage of remittance volume to be processed in a shared-services environment at an Exela site that is regionally separated from the bank’s site, but close enough for efficient reshipment of mail in the event of a disaster. During such an event, total processing volume can be immediately absorbed by Exela’s operation, which better protects business continuity and enables the bank to reduce expenses associated with maintaining its own systems and its costly third-party site.

BENEFITS:
  • Flexible operations with easy ramp up and down, depending on volume
  • Reduced maintenance and management burdens
  • Increased processing speed and accuracy
  • Lower total costs of ownership
  • Superior disaster recovery capabilities

 

Hashtag(s)
<-----------LinkedIn Insight Tag----------------->