Top Collaboration Tools with Microsoft: Teams, SharePoint and OneDrive
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 Teams, OneDrive and SharePoint; collaboration tools that can dramatically enhance collaboration and streamline processes for businesses, increasing efficiency for everyone.
While many are still grappling with the new normal of dispersed teams and remote working, it's more important now than ever to explore collaboration tools and technologies that can improve communication within your organization. At Eze, we've been using Microsoft 365 collaboration tools like Teams, Sharepoint and OneDrive for some time, which made the switch to fully remote work seamless. Mobility, security and ease of use for applications is more relevant than ever.
Before we outline the five ways Teams, 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 collaboration tools and products of Office365 for Business. There are similar collaboration 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.
Teams: Microsoft describes Teams as a collaboration tool that allows you to work remotely without feeling remote. Chat, meetings, calling, collaborations- Microsoft Teams is a unified communication and collaboration platform.
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 Microsoft Teams, OneDrive and SharePoint Improve Collaboration for Investment Firms:
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. Teams can be accessed virtually anywhere and allows you to connect with your team. OneDrive and SharePoint 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 within OneDrive and SharePoint 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. Microsoft Teams syncs the personal OneDrive of individuals to the ‘Files’ tab, where recently accessed files will appear for ease of access without staff having to open numerous tabs to access folders and files.
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. Microsoft Teams syncs with other Office 365 applications and therefore maintains an up-to-date calendar for individuals in one place.
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 Teams, 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.