Unlock the full value of collaboration with compliance
In recent years, demand for collaboration platforms like Microsoft Teams and Zoom has skyrocketed. Even before the pandemic, companies were leveraging the latest technology to help synchronize their teams and increase performance.
Now, business leaders are more reliant on these tools than ever before, as they need to bridge the gaps between hybrid, remote, and in-office employees. Mobile voice, chat, and video conferencing are taking over business communications, as employees continue the transition to age of “anywhere work”.
The good news is that implementing collaboration platforms correctly can pay huge dividends. One Forrester report found Microsoft Teams has a potential ROI of 832%, thanks to improved productivity and efficiency, among other factors. The bad news is many companies are still struggling to unlock the true ROI of their collaboration tools for one significant reason: compliance.
How Compliance Issues Impact Collaboration ROI
As the technology we use to communicate and collaborate has evolved, regulations outlining how data should be stored, transmitted, and shared have changed too.
Regulated industries are facing new challenges with compliance as capturing and managing unified communications across a range of platforms becomes more complex. The issue has even led to numerous companies putting the brakes on their digital transformation efforts.
For compliance teams, tracing the context and flow of conversations carrying over messaging platforms to voice calls, and video conferences is often overwhelming. This has led some organizations to try and minimize risk by turning off the collaboration features they desperately need.
One Theta Lake survey found 68% of companies are restricting collaboration features just to reduce the risk involved in accessing new channels. On the one hand, this strategy seems to make sense as regulatory fines increase in size and severity. However, turning off collaboration features leads to unintended negative consequences too.
Not only do companies risk the rise of shadow IT, as employees start turning to unmonitored channels for communication, but the ROI of an organization’s collaboration tools is drastically reduced. Companies end up falling behind their competitors by failing to leverage new, valuable communication channels that actively improve productivity and efficiency.