Unified communication represents an incredible opportunity in an industry as dynamic and customer-focused as financial services. Companies in this landscape must prioritize privacy and compliance while investing in exceptional productivity and higher levels of efficiency.

By aligning teams, technologies and communication channels, unified communications can create a more compliant and efficient environment for financial services business leaders. In today’s distributed environment, where financial experts can work across the globe, unified communications are growing at an increasingly rapid pace, approaching a potential value of $293 billion by 2027.

The question is, how do you develop a business case for unified communications at a time when budgets are stretched and business buyers are under increasing pressure? The following steps will help you.

Step 1: Consider your evolving team

One of the best ways to craft a compelling business case for any new technology is to highlight the constraints of an existing problem in your workplace. Currently, the financial sector, like many other landscapes, is going through a period of digital transformation surrounding the workplace.

If, since the pandemic, more of your specialists are working remotely or in a hybrid environment, chances are you are depending on the power of unified communications to bring these employees together. Since many roles in financial services require spending a lot of time behind a computer, companies have great potential to embrace a more flexible digital work environment. Already around 99% of HR managers expect hybrid working to be a fundamental part of the workplace of tomorrow.

With Unified Communications, you can empower team members wherever they are to share information, connect with colleagues, and work toward a fantastic customer service experience for your customers. With the right solutions, specifically designed for financial services groups, you can even access additional tools like mobile management services and SBCs to secure employee logins wherever they work.

Step 2: Look for compliance upgrade opportunities

The financial services industry is one of the most regulated industries. Customers and businesses are not willing to take risks with their money. With this in mind, business leaders should view unified communications not only as an opportunity to improve workplace performance, but also to improve security, compliance, and privacy.

With unified communications aligning multiple technologies within your business environment, it’s much easier to keep track of the data flowing through your business. Alternatively, many different applications would put additional pressure on IT managers and security teams to track potential sources of leaks and vulnerabilities.

Implementing an advanced UCaaS offering also gives business leaders access to a more flexible cloud foundation for their communications technology. This can make it easier to access various new advanced tools for security and compliance. For example, with an integration-friendly UCaaS environment, you can implement artificial intelligence tools for voice biometrics and enhanced encryption technologies. Making your team and your customers safer is easy with Unified Communications.

Step 3: Present the potential for improved experiences

We live in the age of “experience economywhere excellent interactions are in high demand, not only among financial services customers, but also among agents, supervisors, and users. With a UCaaS or UC environment, business leaders can invest more in the power of experiences.

From an agent or employee experience perspective, unified communications makes life easier for your team members by giving them access to all the tools they need in one place. This means less time spent moving between applications and less time wasted searching for information. Agents are more empowered to deliver improved results.

Similarly, in the financial services industry, managers and supervisors in a UC environment have more power to monitor team members and ensure they remain compliant and productive wherever they are. even in a hybrid workplace.

Customers benefit from a more aligned back-end team, rapid routing opportunities, and better context in their conversation. UC solutions can even be connected to CCaaS offerings in today’s digital landscape to further enhance the communication experience for everyone involved.

Step 4: Implement data collection plans

Sometimes the best way to build a compelling business case for a new technology is to demonstrate how you can prove the value of an investment over time. One of the benefits of today’s UCaaS and UC solutions is that they can offer a range of analysis and reporting tools to help you collect valuable data. You can track everything from adoption to changes in employee engagement and customer satisfaction levels over time.

Data analysis capabilities in a UC ecosystem can also be invaluable when planning new technology and solution implementations. You can use analytics systems to track patterns and trends in customer needs. Accurate solutions can even offer insights into your employees’ well-being and satisfaction levels, so you’re less likely to deal with turnover.

Collecting data in today’s financial services environment can help you avoid the stress of replacing finance professionals in a climate of skills shortages. At the same time, these reports also allow you to delight your customers, with everything from sentiment and intent reports to tracking the customer journey.

Step 5: Examine the potential for innovation

Finally, a UC or UCaaS implementation for any financial services business has the power to adapt and scale with your needs. You can start with a simple UC environment meant to replace an old-school or legacy ecosystem, and then gradually update adding more features and functionality. UC offers can make it easier to implement new features whenever you want.

You might consider implementing things like AI assistants and agents to support your team members and make your entire staff more productive or consider automatic recording and transcription tools. There may also be the possibility of implementing even more advanced solutions in the future, such as XR technology so that you can conduct financial meetings to your customers internally with VR and AR.

Even if you don’t plan to invest in particularly advanced tools just yet, UCaaS ensures that you have the right, flexible, and agile environment in place for future transformation.


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