Various market studies have consistently shown that delivering compelling commercial insight to the business is the most significant way in which the finance organization can add value. CFOs must demonstrate that the finance organization is equipped to manage performance through periods of growth, stagnation and contraction.
However, too many finance organizations today still remain mired in ad hoc and fragmented financial environments, prone to process disruption and swallowed up by tactical demands. Polycom collaboration technologies can overcome these and support the CFO in his role as Operator, Steward, Strategist and Catalyst, to build a culture of high performance.
Streamline Operating Model
Efficiency is often a challenge when it comes to balancing capabilities, costs and service levels to fulfil the finance organization’s responsibilities. Video collaboration is an especially effective tool to drive process improvement initiatives, reduce enterprise costs, prioritize and allocate scarce resources to support strategic and commercial operations where value can be created.
- "In the first year, and with just two Polycom telepresence environments in place, we saved $255,000." James McCullough, Dean, South Region, Defense Acquisition University
- "The advantages of the video conferencing deployment have been immense. By adopting green IT practices, we have saved over $200,000 in travel costs in six months and significantly reduced our carbon footprint." Subhash Chand Mittlal, Senior Executive Director (Management Services & IT), Group CTO, IFFCO
According to the 2013 Wainhouse Research survey named the “End-User Survey: The ‘Real’ Benefits of Video,” the top benefits of video conferencing included:
- Increased efficiency/productivity (94%)
- Increased impact of discussions (88%)
- Expedited decision making (87%)
- Reduced travel costs (87%)
Support Growth Opportunities
Collaboration can have a dramatic effect on knowledge sharing across the team and provide numerous growth opportunities. The ease of delivering live training over video ensures that changes in processes, laws or business regulations can be dealt with quickly. Polycom solutions also allow for the development of a library of training modules which facilitates bringing new members up to speed. The improved teamwork and productivity without the need to meet in person help organizations to reduce travel costs and improve margins.
John Laing plc. provides a perfect example of expanding operations and their challenges. John Laing manages 76 privately-financed projects in the UK and overseas. With over 1,000 employees spread across 79 offices, teams need to collaborate while managing risk, asset management, expansion costs and operations with partners and the project supply chain. They were able to reduce their carbon footprint by eliminating 162.5 tons of greenhouse gas emissions. Meanwhile, the easy to use interface helps collaboration adoption scale throughout the organization regardless of location.
Control Risk and Accountability
Given the critical importance of data integrity to investment decisions, the CFO needs to maintain strong stewardship to protect and preserve the assets of the organization. This mandate requires facilitating transparency of financial performance across the organization; and ensuring business decisions endure processes that drive robust financial challenge and accountability.
Organizations that take advantage of real-time video and recorded video assets can easily aggregate a wealth of data, aiding financial analysis and planning. Through the Polycom RealPresence Media Manager enterprise software, CFOs can manage video assets for big data insights or operational reporting easily and securely.
The Polycom RealPresence Platform utilizes a software-based edge server that routes content and communication from any location and device. Rigorous testing demonstrates that Polycom offers the most secure software infrastructure for universal collaboration, allowing CFOs to control risk and accountability.
A Catalyst for Innovation and Growth
From financial analytics to decision support, experience shows that the CFO's office must be a catalyst in a high-performance culture. Information is power and today's finance team has the responsibility and the mandate to rapidly generate and analyze financial information to help the business be more competitive i.e. provide strategic input on profitability of product and service lines so that executive management can make more informed investment decisions.
Video strips the silo usually associated with the finance organization. It enables real-time visibility on product lines, customer segments and sales channels. Through video, CFOs can facilitate collaboration with other business functions, engage internal and external stakeholders for insights into market opportunities, and identify areas for business growth and innovation.
Polycom voice, video and content-sharing solutions enable all the departments in your organization to engage more effectively with clients anywhere on Earth–without you having to invest in costly office facilities or travel.
Attract top talent in new markets by offering them a flexible work environment fueled by cutting-edge technology. Talented employees find a flexible working environment very attractive; you'll find it very productive.
of companies worldwide have deployed desktop video to more than half of their employees – up from
Be economically and environmentally smart. Face-to-face video conferencing increases productivity and eliminates travel expenses while shrinking the carbon footprint of your organization.
More personalized contact means more customer interaction for you and everyone else in your organization. It also speeds global buy-in across your enterprise, allowing for quicker, better-informed decisions and greater efficiency.
plan to invest in video conferencing as their key sustainability driver.1