Overall benefit: Communicate safely within a geographically-dispersed financial team.
Thanks to globalisation, banks no longer compete on a national level but instead are pitted against financial institutions all over the world; it is therefore essential that each financial organisation utilises effective channels to enhance communication between employees, particularly those that are sited at different locations across the globe. The banking sector follows very strict regulations as far as communication is concerned (to ensure the security of customer data), meaning that employees can only correspond via a secure channel.
We consulted with an enterprising financial institution that was finding it difficult to connect employees from different locations. Its employees needed to be able to communicate certain information swiftly so that timely decisions could be made — this process was essential to the profitability of the company. The situation was further complicated by the fact that employees were working in different time zones, and as such found it difficult to be certain that the person on the other end would be in his/her office to pick up emails. Emails were often 'shots in the dark'. The use of different applications made the process more convoluted, as employees were seeking support via email, telephone, and a task management system. Sharing documents and trying to organise team meetings was similarly arduous. Furthermore, it was difficult for employees to determine the right colleagues — at another location — to direct matters towards, as there was no easy way of identifying the company structure (and therefore a colleague's level of responsibility).
Most of all, this company struggled to create a sense of community as their employees were based in different locations.