Eliminate Information Silos with Hosted Telecom | Flowroute Blog

Eliminate Information Silos with Hosted Telecom

Posted on November 16, 2021 by Darach Beirne

This article is condensed and originally appeared on Credit Union Business Magazine.

According to research, 48% of organizations say their greatest hurdle in the marathon race to better collaboration is ineffective communication between team members. Moreover, 64% of workers report spending 30 minutes or more each day simply switching between software apps. That half an hour of lost productivity adds up to more than 130 hours annually.

We see this hurdle present in information sharing between credit union branches and departments. For example, branches may purchase one transaction management program to track interactions with members looking to open a line of credit, while the collections department purchases a different management program to track delinquent payment plans. Running different software programs across departments raises a few challenges, including hindering information sharing, increasing costs, and straining customer support, collaboration and productivity.

One of the simplest ways to bridge silos begins with the tools in an organization’s technology stack. Credit unions are no different and rely on secure, real-time interactions to keep their operations running smoothly. More specifically, credit unions can overcome information silos with cloud-based communications services.

To read the article in its entirety, click here.

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