The ROI Of Mobile Solutions For Financial Services Professionals
How investing in mobility can net you gains in productivity, customer serviceand more.
Smart phones, tablets, and laptops are must-haves for the modern worker to remotely access documents, files and get work done from anywhere. Financial services professionals' growing desire for simpler ways to collaborate and get work done on any device, any time, are key drivers behind the adoption of mobile technologies in the workplace.
77 percent of financial services organizations support Bring Your Own Device (BYOD). 7
But it’s not just access to email on mobile devices that's making more collaborative work possible. These tools, in conjunction with cloud-based technology and mobile apps, are contributing to a surge in productivity and business growth. This is the essence of mobility: a secure and common work experience on any device that empowers the modern financial services professional to do better work, whenever.
Though research shows 80–90% of US employees want mobility in the way they work1, it's not just about improving employee satisfaction. Research indicates that increased productivity and streamlined processes are the top reasons why business owners, partners, and managers provide mobile options for their teams2.
Adopting mobile technology delivers ROI in many ways, including:
Security that supports compliance with FINRA, SEC, and other relevant regulations
Providing a more responsive service to your clients
The ability to hire and retain the very best talent
More reasons to invest in mobile solutions
Improve speed and efficiency
The increase in speed and efficiency that result from adopting mobile technology shows itself in your organization’s productivity and self-satisfaction. For example, a recent study revealed that organizations which implemented mobile technologies saw a 50% increase in productivity and a 39% increase in employee morale3.
Not only do mobile technologies and cloud-based services provide a unique and flexible way for employees to manage their own workflow and schedules, it also provides a way for smaller IT departments, or even individual IT roles, to manage and support the entire team using less time-consuming and more cost-effective measures.
60% of companies in a recent Harvard Business Review survey said that the cloud has improved employee productivity, mainly through the simplification of operations, better delivery of internal resources, and improved ways for employees to collaborate4.
Secure processes and collaboration
Relying on a trusted set of mobile solutions is imperative to your entire team’s ability to collaborate effectively and efficiently. Knowing client data is safe and secure on any device gives everyone on your team the reassurance to keep work moving, whether in the office or in the field.
60% of organizations said that the cloud has improved employee productivity.
When you proactively provide the mobile technology that you want your employees to use, you can create and enforce new standard operating procedures that will reduce confusion between employees, increase productivity, and provide transparency. In fact, 77% of financial services organizations support Bring Your Own Device (BYOD) programs, allowing employees to use their personal smartphones and laptops for work7.
Ensuring secure, cloud-based applications and detailed processes are established and easily accessible can also support your compliance with FINRA, SEC, and other relevant regulations for protecting your clients’ secure financial data. When you're confident about compliance, you can spend your time focused on customer and client needs, not paperwork.
Increase growth
There are also revenue profits to gain from business mobility. While additional costs are needed upfront to establish a mobile solution for your business, the IDC reports that 67% of companies that implemented mobile technologies reported a positive ROI, with 16% of that positive return coming from an actual growth in revenue3.
This type of growth can be measured in two ways:
- Working with a cross-region, crosscountry or even global team allows you to access remote clients that were otherwise inaccessible. You can still provide the same quality service and responsiveness, but at a larger scale. In fact, business and IT professionals report an ROI of 150% with the use of mobile applications5.
- Talent acquisition and retention are huge factors for SMBs. By providing mobile options for employees, you become a more desirable employer. Employees who have the freedom to work from anywhere appreciate and value the importance of self-sufficiency and autonomy6.
Learn more
Financial services organizations that embrace mobility gain an edge over competitors by establishing a culture of collaboration and high-productivity. When you invest in a trusted, business-class mobile solution like Citrix ShareFile, you and your team can be more productive on any device, any time.
ShareFile provides the ease of use, security and accessibility that teams need to share work and resources, whether employees are in the office or dispersed worldwide.
Notes
1. “Latest Telecommuting Statistics.” Global Workplace Analytics. 2015. http://globalworkplaceanalytics.com/telecommuting-statistics
2. Thomas-Aguilar, Blakely. “2015 State of Business Mobility Report.” VMware Air Watch. 11 Nov. 2015. http://blogs.air-watch.com/2015/11/2015-state-business-mobility-report/#.VyjDL1YrKHs%29
3. Tchkotoua, Chalva. “3 Advantages of Enterprise Mobility Management for SMBs.” NaviSite. 11 Jan. 2016. http://www.navisite.com/resource-center/blog/3-advantages-enterprise-mobility-management-smbs
4. “The Link Between the Cloud and Employee Productivity” - Virsage 2015.
5. “Businesses Embracing Mobility Are Averaging 150% ROI: VMware.” Datamation. 11 Nov. 2015. http://www.datamation.com/mobile-wireless/businesses-embracing-mobility-are-averaging-150-roi-vmware.html
6. Josuweit, Andrew. “5 Lessons I’ve Learned From Building Our Remote Startup Team.” Entrepreneur. 4 Dec. 2015.
7. Thorsgaard, Claus. “Why Accounting Practices Should Be Encouraging a BYOD Culture” CPA Practice Avisor. 5 Oct. 2012. http://www.cpapracticeadvisor.com/article/10799281/why-accounting-practices-should-be-encouraging-a-byod-culture
