The Power Of Social Collaboration: 3 Business Benefits

Steve Hamrick

Collaboration lies at the heart of every great team. Making sure your employees are effectively working together in person can be difficult enough, but add multiple offices around the globe, an ever-expanding workforce, and disorganized data to the equation, and you could have a major mess on your hands.

Thanks to the impressive tools that exist today, however, you can easily realize the many benefits of creating a collaborative online community.

In the July 2016 commissioned study, The Total Economic Impact of SAP Jam, conducted by Forrester Consulting on behalf of SAP, Forrester Consulting explored the potential return on investment your business can experience with the aid of social collaboration tools. Let’s take a look at three of the most crucial benefits:

1. Reduce the costs of onboarding new employees by 13%

By allowing new hires to work together and easily share information during their first few weeks, you can empower them to get answers to questions quickly. Being able to engage with their peers and experts in other departments allows your staff to build upon their training and become proficient in their new roles faster.

Using topic-based communities and organizing crucial information in an easy-to-find manner provides employees with the resources they need to feel completely prepared to be productive on their own.

Reducing a new hire’s onboarding time and time to productivity is incredibly beneficial to any organization, but an added bonus is the overall reduction in turnover. Existing employees feel more valued and engaged when being touted as expert resources that can help guide and educate new coworkers. Creating an internal company culture of collaboration can significantly boost employee morale.

2. Resolve customer service issues 10% more quickly

Not only does employee collaboration affect how smoothly internal processes run, it can also positively impact your interactions with customers. Streamlining the steps necessary to find information greatly reduces the number of hours an employee spends tracking down the correct contact, e-mailing, and awaiting a response.

Giving a customer service agent the full picture from the get-go is crucial. Whether it’s being able to find a specific order right away or figuring out who the point of contact they’ll be working with is, having important information at their fingertips will greatly help your employees figure out the necessary next steps in a timely manner.

A faster answer to a customer’s inquiry not only means an employee can help more customers per day, it also means that a customer feels taken care of in a prompt and courteous fashion. Any interaction with your customer base will affect how they view your organization, meaning that a positive experience can turn a one-time buyer into a lifelong customer.

3. Improve win rates and reduce time to close

Sales professionals need to track an enormous amount of information to facilitate a deal, and often need to connect with experts in other areas of the company outside of the sales organization. This process can often be incredibly time-consuming. So much so that an entire transaction could fall apart due to a delayed response.

Thankfully, providing a consistent collaborative environment has been proven to help win business by shaving off an entire week from the close rates of sales cycles. Instead of pulling sales-related data from a CRM system and having to locate an expert from across the organization to help provide information to close the deal, a collaborative team can work together to streamline sales operations and keep one another in the loop every step of the way.

More sales mean more revenue, of course, but ensuring that fewer deals fall apart is sure to be a confidence booster for any team in your organization.

Continue exploring the benefits of social collaboration

The benefits of integrating social collaboration into your business are truly countless. Employees at every level will appreciate how easily they can communicate with colleagues from anywhere in the organization, and you’ll see how that impacts your bottom line almost immediately.

Download the Forrester Consulting study, The Total Economic Impact of SAP Jam, or watch this webinar to learn more about Forrester’s excellent analysis of social collaboration tools.

Are you going SuccessConnect 2016 in Las Vegas? Join the “Success Across Your Organization with SAP Jam Collaboration: Overview, Successes, and Roadmap” session on Wednesday, August 31, 2016 from 4:30 -5:30 PM in Marcello 4405, where Daisy Hernandez, from Forrester SAP , and I will be discussing about the powerful tools available to you currently, and how easily they can be implemented into your business right away.