Sam states that Liza’s idea to use an intranet specifically designed for the banking and financial industries is not a good one. It poses many risks and has security issues. Liza decides to elaborate on the innumerable benefits of an intranet solution for Banks & Financial institutions. Listen to what they have to say.
Liza: The intranet platform is highly customizable, and provides multi-disciplinary functions to suit the requirements of any industry. For an industry like ours, the features & advantages of intranets are:
- Document & Procedure Management: Intranet provides real-time access to all the documents, work procedures & company policies. Users can comment, share, edit, upload, or access documents simultaneously. The documents & files are securely stored on cloud/online servers saving heaps of money spent on maintaining servers for its security.
- Sharing information at the right moment: Sam, as you well know, for the success of our business, it is crucial to have the best information at the perfect time. This information is crucial to the decision-making of the institution as well as its customers. On the intranet site/page, you can provide updated information to your employees about changes such as office hours and policies.
Sam: Does this refer to teams/departments or just individuals?
Liza: Yes, of course!
- Workspaces for teams or departments: With 100% control over privacy and & authorizations, managers can create dynamic & detailed workspaces for their respective teams/departments/groups. It keeps the people updated with the latest financial trends, events, & webinars. You can invite individuals from outside of the company, and you can add or remove users as required.
Liza: The intranet is also a great tool. It streamlines work processes.
SharePoint intranet allows automation of regular & manual tasks and workflows, which saves their time for crucial tasks. Automated procedures allow monotonous tasks like leave management and reimbursements to be completed with a single click. This software allows users to be alerted when their spending is below or above certain limits.
- The intranet also offers other benefits. Task & Project tracking. It enables individuals & teams to plan, discuss, share useful documents, & track their tasks/projects’ progress. Create a separate page/site per project that authorized individuals can access from anywhere and anytime.
- Improves data security: SharePoint intranet relieves you from any concerns about the confidentiality of information. The latest SSL encryption allows you to freely exchange documents, videos, images or other data. To add more, the security & permission features gives complete control over user-right settings.
Sam: It’s all good. It is a good thing.
Liza: Why not? Social features on the intranet allow employees to easily connect.
- Engages employees: SharePoint software helps to keep the employees motivated by providing means for internal communication, collaborating, excellent work recognition, in turn boosting overall employee morale & job satisfaction. It provides opportunities for diverse training and plays a vital role in developing & promoting a cohesive organizational culture.
Liza: Being competitive is key Intranets can also provide a number of other benefits.
Financial institutions that have implemented an intranet system will gain a competitive edge over other financial organizations who are not using one. Financial institutions can benefit from the intranet’s many features, including sharing crucial information in a timely manner, workflows based on forms, document storage online, and tracking. Financial institutions can save money, focus more on strategic tasks, improve the quality of services provided to customers, and increase their overall performance.
Sam: Wow! I am amazed. SharePoint intranet-in-a-box has the power to change the entire lookout for working in the finance industry.
Liza: Absolutely! Due to its nature, the banking and financial industry is sometimes stuck using monolithic system. They must use the modern financial intranets and abandon their old, outdated systems. Moreover, it also helps in aligning institutions on a technological scale, broadening organizational transparency & horizon, and portraying modern consumers of our industry.