Financial institutions, like most businesses today, are seeing the need to leverage video conferencing applications such as MS Teams, Zoom, and Webex. Recent statistics show that over 90% of business owners believe an adaptive digital communications strategy is the key to fiscal survival. As with any evolving technology, there are obstacles to be overcome, but the benefits of using secure audio-visual (AV) conferencing solutions far outweigh any challenges faced along the way.
Why High-Quality Audio-Visual Conferencing Solutions Are Needed
The nature of the financial market is that decisions need to be made and implemented quickly. Organizations need to be adaptive and flexible to maintain customer satisfaction and a healthy profit margin. For these reasons, Pro AV solutions are uniquely suited to meet the evolving communications needs of financial institutions.
- Sharing and collaboration. Strategies break down unless critical information can be shared and teams can effectively collaborate. AV conferencing solutions allow for real-time sharing and collaboration.
- Conferencing from remote locations. Trends show an increase in remote workers. Additionally, many financial institutions, such as banks, have numerous locations nationally or even globally. AV conferencing allows for instant secure communications from as many locations as needed.
- High-quality audio and video transmission. Effective communication requires dependable audio and video, and this is especially vital in the financial industry. Loss of audio or video can adversely affect decisions when collaborators are discussing high-profile lending or banking strategies.
- Ease of use. In an environment where decisions need to be instantaneous, presentations need to be flawless, and time is a valuable commodity, players need to know that technology will be dependable, user-friendly, and have the full spectrum of features needed. Organizations may not have the time or resources for extensive training on the use of AV conferencing applications or figuring out features during use.
Challenges Faced by Financial Institutions’ Current AV Conferencing Capabilities
While the challenges faced may be unique to each institution, there are general obstacles that impede fully leveraging AV conferencing solutions.
- Outdated systems. Existing systems may be limited and may even require the use of a specific meeting room equipped with video technology. In a recent report, overbooked meeting rooms and meeting rooms insufficiently equipped were ranked as the highest challenges to implementing AV solutions.
- Discomfort with technology. Thirty percent of employees feel uncomfortable being on video. Additionally, management staff and owners of financial institutions tend to be in an age group uncomfortable with emerging technologies.
- Insufficient IT support. IT support teams for financial institutions understandably are focused more on cybersecurity than AV support. That makes sourcing technical support and maintenance just as important as the AV solution itself.
Benefits of Audio Visual Conferencing Solutions for Financial Institutions
Overcoming the obstacles becomes paramount when the benefits of a comprehensive AV conferencing solution are considered. Consider just a few outstanding advantages:
- Reducing travel expenses. This is considered the highest value of AV conferencing to businesses, in general, in a recent survey. Comprehensive AV solutions allow for secure digital communications that are accessible from almost anywhere in the world, replacing the need for extensive travel.
- Efficiency and cost savings. After travel reduction, these are the next highest values for AV solutions. Higher efficiency is achieved when communication can be instantaneous. Strategies can be more adaptable and effective when collaborators can meet to implement updates and changes in real-time.
- AV communications support consistency across the organization at all levels. Ease of sharing and collaboration make for clear and decisive strategy implementation.
How Pro AV Can Help Financial Institutions
Pro AV offers tried-and-true solutions and the resources to source the highest quality components. Professional support and maintenance after installation make Pro AV’s solutions some of the most comprehensive available in the market. Contact us today for a free quote or expert consultation.