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5 Ways SharePoint and OneDrive Improve Collaboration at Investment Firms

By Olivia Munro | Thursday, December 26th, 2019

When it comes to investment management firms, collaboration, efficiency, and cutting edge technology are all critical factors when it comes to growth. At Eze Castle Integration, we partner with Microsoft to offer our clients the option to utilize OneDrive and SharePoint, two tools that can dramatically improve collaboration and streamline processes for businesses, increasing efficiency for everyone. With more people working remotely and traveling for business than ever before, mobility, security and ease of use for applications is more relevant than ever.

Before we outline the five ways SharePoint and OneDrive can transform your business operations and enhance collaboration for investment firms, let's outline the functionality of these applications. It is also key to note that in this blog, we're referring to OneDrive for Business and SharePoint Online, which are business tools and products of Office365 for Business. There are similar tools you can utilize on your personal accounts, however today we're talking about how they can specifically impact your investment firm and day-to-day business.

OneDrive: Our partners at Microsoft simply define OneDrive as "the Microsoft cloud service that connects you to all your files". Simply put, OneDrive for Business is a storage location or repository for files and documents. You are able to access this tool through Office365, anywhere at anytime, regardless of whether you're connected to your firm's VPN.

SharePoint: Like OneDrive, you're also able to access SharePoint through Office365 anywhere and anytime. It's a tool that helps firms share and collaborate on documents and files from anywhere in a secure manner.

Now, let's dive into the 5 ways OneDrive and SharePoint Improve Collaboration for Investment Firms:

1.) Mobility 

As previously mentioned, one of the best features of these tools is the ability to access your files anywhere. Today more than ever, due to technological advances like these, employees are are able to work remotely with little to no change in the processes. These tools allow you to securely store your files no matter where you are and whether you’re connected to your business’s VPN, share them with your team members or partners, and access them from any of your devices. If you aren’t connected to your firm’s network, you can access and work on documents in OneDrive, and when you return to the network, the files will automatically sync with your network, ensuring a seamless transition from working at home or from a plane to being back in the office. 

2.) Simultaneous Editing

Perhaps one of the best features for collaboration is the ability for simultaneous editing. In general, only one person at a time is able to edit a file or document, which kills time and reduces efficiency for everyone. Having the ability work on documents at the same time allows employees to work on their own schedule, collaborating and seeing real-time changes within documents.

3.) Access Controls

Having the ability to share files and documents with exactly who needs to view, edit, or share them is crucial. For highly sensitive documents and information, security is paramount, and with OneDrive and SharePoint you can ensure that only the people who have been granted access can manage the files and documents. While this may seem like the opposite of collaboration, it does enhance the experience by allowing the right people to embrace and participate in the collaborative experience.

4.) Transparency on Projects, Tasks and Deadlines

Building on the simultaneous editing, being able to see updates and edits to projects, tasks and documents in real-time not only improves efficiency, it also provides visibility and transparency to your team’s work. Tracking which team member made which edits on documents and files can provide insights you may have missed otherwise, and can provide transparency on the status of projects and tasks. This improved visibility enhances collaboration within and across teams.

5.) Ease of Use

Lastly, and perhaps most importantly, the ease of use of these tools may be the best driver of collaboration. The Microsoft 365 interface and the SharePoint and OneDrive tools are easy to use, regardless of location or device. The tools are intuitive and uncomplicated to learn, which is most important of all when it comes to collaboration.

The ways your firm can use both SharePoint and OneDrive are endless. Eze Castle Integration is a proud partner of Microsoft and we encourage our clients to take advantage of their vast array of products available.

To talk to Eze Castle Integration about how you can take advantage of these tools and more, contact us here.

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