As technology keeps on progressing, industries are constantly adapting to a dynamic world. With the development of business at a faster rate, it is increasingly significant to execute improvements on projects. The fundamental key of effective project management lies in excellent communication specifically in conveying goals, updates and other information to the people/stakeholders involved.
Tag Archives: Cost
What you should take into account while introducing video conference self-services
The deployment of video conferencing booms in many companies. This way they can save costs and increase productivity. In earlier days video conferencing was reserved for top management but this has changed fundamentally. Today video conferences are used by all employees for their daily communication.
Today many companies own 500+ video conference rooms and 10thousands of desktop video conference users. The demand for professional video conferences is growing further and has been up to 30% a year.
The company’s structure used to be set up in a way to correspond to the needs of top management as a strictly controlled managed service. This strictly controlled managed services offers a high security standard for the company, however accounts for a big amount of the budget at the same time.
A remedy can be found in video conference self-services. The big advantage here is the high scalability and the reduced costs compared to the encompassing managed service. The video conference self-service should generally serve as an addition to the existing managed service structures.
Anyone thinking about implementing a video conference self-service should take note of the following five points:
1. User expectations
In case you use a high quality managed service already, it will not be an option to not use this service in the future. It is important to manage the user expectations and clearly state for which purposes the self-service is intended. A self-service should predominantly be accessible for all employees. The managed service still makes sense for important meetings of the top management, etc. It can be helpful to communicate the costs of the managed service transparently to the users – a measure which might change their mind rather quickly.
2. Video conference infrastructure
Be aware that existing video conference infrastructure often is not tailored to the needs of the video conference self-service. Ordinary video conference infrastructures only enable low scalability, which means that video conference ports are not unlimited. It might make sense to use a software based video conference structure. These allow for high scalability and low operation costs. Initially it might make sense to use a cloud video conference service.
3. Planning business as usual
Video conference self-service does not mean that normal business can be compromised and the solution automatically works – to the contrary! For high user satisfaction the video conference infrastructure has to be stable, questions of users have to be answered timely and competent and the administration of accounts and virtual video conference rooms has to be managed.
4. Offer trainings
If you offer a video conference self-service, you also have to educate the users in a way that they are able to use the service right. Training is important. That can be seminars, booklets, eLearning training videos and intranet pages.
5. Manage growth
The introduction of a video conference self-service can lead to an enormous demand. Some companies measured the double demand within a year. Pay attention to the impact on your network and on your video conference infrastructure as well as on the daily business. The budget planning should grow too, because financial resources are especially scarce during the year.
I hope these are some good pointers for all our readers considering to look into add a self-service to their portfolio. If you have made any experiences yet around this or just want to share your thoughts, please feel invited to do so in the comments box below. Many thanks!
The utilisation of innovative technologies in Investor Relations gains more and more weight. The global finance crisis led to uncertainties across financial markets. The reactions on incoming news and information from Investor Relation departments impacted the market heavily.
That is why it is now an important task for the management of such companies and their Investor Relations departments to re-gain trust. The target is to enable a target-driven direct communication to investors, analysts and other stakeholders without giving a wrong impression or deliver data that would lead to wrong assumptions. For this communication to happen, more and more organisations utilise innovative technologies. Such technologies are also known as “Unified Communications” tools and aid Investor Relations significantly with the efficient communication with a usually large number of recipients. On top of that many investors and analysts are scattered across the globe and therefore subject to time zone related difficulties.
Important technologies within the Unified Communication tool-set utilised in Investor Relations are:
Video Conference Services
Video conferencing services allow organisations to rapidly and easily get in contact with one or many investors or analysts. This way of communicating is becoming more and more attractive as the prices for video conference system deployments have significantly going down recently – becoming a much more affordable solution. Beyond the normal functionality of communicating with audio and video dimensions, high-end video conferencing technologies also allow sharing screens or other digital content into the video conference, such as Microsoft PowerPoint presentations or business plans in form of a Microsoft Excel spreadsheet for instance. Now one is able to present such files live without sending the data per mail prior to a meeting., which cuts a lot of issues like “having an out-dated file” at hand during the conference. Video conferencing not only is a great way of delivering high quality communication, but also can save a lot of costs and increases productivity of teams. While Investor Relations officials would be required to take a plane to fly to an appointment, now the very same person can save time and costs by arranging a video conference and getting the message across to many even on the same day.
Live Video Streaming via IP
Another way of delivering information from important events is the live video stream via internet or intranet. Like this an organisation can easily broadcast from an annual general meeting (AGM) and deliver a video feed in HD not only to on-site audience but also to remote investors and analysts. The video stream could be watched from Notebook, PC, Mac, Tablet or even from Smartphones. With Digital Signage the event could be embedded into information displays that could be deployed in meeting rooms or public areas. The possibility of facilitating IP Video Streaming do not always require an own infrastructure and staff for events that happen only once per year. They can be also booked as a service and the streaming solution will be provided by specialists at scalable costs. If an organisation however runs events at a high frequency or requires video transmission for other reasons, they can invest in own infrastructure and managed services to look after their infrastructure. This would enable an organisation to flexibly utilise video streaming solutions and would save costs on long-term outlook.
A Video-on-Demand solution serves archiving purposes and enables the playback of any previously recorded videos, video conferences or events in case someone could not attend the live video stream. You could for example provide access to shareholders, who would usually not be able to see the live broadcast due to being in another time zone. This kind of solutions is also known as “Corporate YouTube” using the role of YouTube as “mother” of all Video-on-Demand platforms. Also for Video-on-Demand solutions organisations can choose between solutions managed and hosted for them or deploy them in their own infrastructure and have it supported by managed services to ensure a maximum availability to the users.
In summary we can see that innovative technologies such as Unified Communication tools are utilised in Investor Relations and being a great value-add to the communication and delivery of information towards stakeholders of internal and external nature. A business case is relatively quick assembled, since the technologies increase quality in communication and also steadily decrease costs that would normally be spent on travel and hotels. Also the technologies can greatly increase productivity of teams even if they are not in the same place.