NetCents Technology Inc (CSE:NC) (FRA:26N) (OTCQB:NTTCF), a cryptocurrency payments company, said on Monday that it was in the process of hiring an additional compliance executive to help reduce the workload on a team that has been stretched thin by the rapid growth the company has seen through its platform in 2020.
"We deeply appreciate your continued support as we work through this pandemic and paradigm-shift in how business is conducted. To say this year taught us a lot is an understatement. Our move to remote working was not as flawless as we would have liked, especially given that we already lived in what we thought was a digitized world," NetCents founder and CEO Clayton Moore told investors.
"COVID-19 led to an unprecedented abrupt remote work transformation with challenges in communication and productivity at scale that had never been anticipated as the pandemic ushered in a shift to remote work overnight."
READ: NetCents to offer interest-bearing crypto accounts on its platform
The company cited research showing 95% of CIO's reported that their organizations have been bogged down by inefficiencies since the COVID-19 pandemic accelerated a shift to remote work. “The sudden shutdown and the resulting hybrid work environment exposed technology and workflow gaps in organizations that require more investment in the coming months,” noted the company.
"We've had a lot to learn when it comes to setting employees up for success as they work from home," added Moore. "As the pandemic has continued far longer than anticipated, we continue to identify issues and communication breakdown as they are identified and implement processes and procedures to mitigate them in the future."
NetCents said companies will look to “invest in new technologies and seek added capability from existing tools to accelerate their processes to digital transformation.”
"While many aspects of NetCents have been thriving throughout this pandemic, like most companies, there have been some breaks," said Moore. "Even though our product was built for this and this transition, many of the things we've been trying to solve for as a company have intensified during this time - always-on hours, constant notifications, fragmented tools, and unfortunately, some areas of collaboration have fallen through the cracks.”
The CEO said NetCents is “hyper-focused” on implementing processes and procedures to address these issues and transform how remote work happens.
“Through this learning process, we think we better understand our employees and customers' needs and are well-positioned to evolve accordingly,” he added.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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