Digital Collaboration Tools are an Investment
Published: 15/01/2024
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This article aims to convince finance managers and business owners that digital collaboration tools are worth investing in. And if you are managing a hybrid team - an absolute necessity.
After the world had gone fully digital for a while, the topic of digital collaboration tools became hotter than ever. And given the hybrid model has become the new normal to many companies, its relevance isn’t fading. Still, some companies are on the fence about whether they need digital collaboration tools when they have somewhat nailed managing their work environment as it is. If you fall into the category of those on the fence, this article will offer you some food for thought.
You have most likely used traditional solutions such as Excel to cope with the challenges imposed by the lockdown and whatnot. It might have done the job at that moment, but if you plan on maintaining hybrid long-term or permanently, it won’t fit the cut. You will need to invest in proper digital collaboration tools. And we promise, it’s going to be worth it.
Even if you’re not hybrid, digital collaboration tools are very useful when it comes to project management. Here are some key benefits:
More flexibility;
Help to build smooth workflows;
Removal of many communication roadblocks;
Quicker project delivery;
Saves overhead costs;
Expanded visibility on project flow;
In-depth insights
Naturally, there are more items to add to this list, but we are trying to keep it concise. The overall idea is that digitising the very process of collaboration across different tasks can transform how you run the projects. Namely, improve your team’s efficiency, speed the delivery up and create a better internal alignment.
If you’re managing a hybrid team, you have no choice but to invest in digital collaboration tools. Otherwise, to be very blunt, your company will not succeed. Collaboration and communication both pose a set of challenges in hybrid and without the right equipment, you won’t be able to overcome them in the long run. So, let’s talk about what can be done.
The primary mission of the collaboration tools is to build a bridge between your teams. It is absolutely crucial in the hybrid environment when teams don’t see each other face-to-face and still need to work together. That said, collaboration tools shouldn’t be mistaken for communication tools, eg virtual meeting platforms or instant messengers. But let us explain how the two are different.
Collaboration tools are aimed at completing tasks that involve several people, building a workflow in which every party would know when it’s their turn to contribute without the need to be chased. This doesn’t mean collaboration tools don’t facilitate communication, however. It just isn’t the main focus. The sort of communication they support is likely to be less direct too. For example, you can leave and reply to comments of others that are tied to specific tasks. Or you could set up an automated email notifying the next person when your part is marked complete.
If you’ve ever used an Excel worksheet as a tool for multiple team members to keep track of one another’s activities, you know the frustration of being unable to access it because somebody forgot to close it on their device. Not to mention things like your data being overwritten, multiple versions of the file existing due to it being emailed around and many others. In other words, it’s more time-consuming than it’s actually useful.
One of the main benefits of digital collaboration tools is that they enable multiple users to work on the same task in real time, simultaneously. The majority of solutions fall under the SaaS umbrella, meaning they are browser-based and can easily be accessed by users from anywhere in the world as long as they have internet connectivity. This perk is vital for mixed hybrid teams, no matter what their setup is as this is the only way they can realistically function as a team capable of reaching goals.
It’s also important to understand that digital collaboration tools will bring you more benefits than simply fulfilling the role assigned to them. With little creativity, knowledge and strategy, they have the power to uplift your organisation to new heights.
There is a wide variety of digital collaboration tools, ranging from project management software to simple document sharing. However, none of them is truly limited to the features set by their respective developers. Most of the modern tools are created to be stackable. You can integrate them and expand their original capacity, as well as deepen the data insights collected. Not to mention, you can smoothen your workflows even further.
Often, integrating solutions unlocks new automation options, resulting in smoother handovers and effortless, timely communication. The more you utilise these tools in tandem, the more refined this process gets, soon requiring no supervision and only an occasional tinkering. Whether you integrate different types of solutions or collaboration tools only is up to you - you are in control of what goes into your digital toolbox.
Having briefly mentioned reporting in the section prior, we need to expand on this for it is one of the most important benefits that come from digital collaboration tools. While the purpose of using this solution isn’t necessarily data collection, it still occurs organically as the team utilises the platform. And it’s great because the said data can reveal where the potential gaps in your workflows are.
As you address them and potentially shift your approach to certain things, you don’t have to worry about adjusting data collection accordingly. It will continue doing so automatically, and you can then compare what it was like before and after the change. In other words, the reporting feature in collaboration tools enables you to continuously optimise without spending too much time worrying about what data is being recorded. Depending on the solution, it may only take a couple of clicks to access the precise metrics you see within seconds.
You may think this is just another blog post riding the bandwagon of talking about the benefits of digitisation. Especially if you’ve already started the process and it doesn’t seem to work. All we can say is be patient. The change will come sooner than you expect.
We mean it. Although some solutions (and you will need multiple to build a tech stack) aren’t cheap, you will be covering that expense in no time. And generating more on top of that. It will not be evident at first as it’s not going to be a direct cash flow per se, but if you check your reports, you are likely to see some big differences in as short as three months. Keep in mind, it won’t likely have a currency symbol attached to it.
Collaboration tools aren’t meant to generate money, but they help your teams to work smoother, faster and more efficiently. Naturally, this means they will be tackling more tasks, freeing up time to take on more. For each department, this means different things. Sales could chase up more leads, project managers could run more projects within the same time frame and so on. In other words, digital collaboration tools affect internal numbers that don’t necessarily translate into profits on their own. However, if you view them as part of a bigger picture, you can clearly draw the connection.
Digital collaboration tools can range in price, sometimes accumulating a hefty cost. Especially if you already pay for other tools you own. But we insist it’s a worthy investment. Especially for companies that run on a hybrid basis. These solutions are vital to connect teams that don’t see eye-to-eye, ensuring they have suitable premises to work together and deliver results. Not to mention, with the selection of the right tools, you can even achieve greater results and efficiency than having your teams work in person.
Most collaboration tools are also built as SaaS solutions, meaning they are easily accessible and stackable with other solutions. Integrating them with your existing digital suite can uncover a plethora of new opportunities, automation options and insights. The latter is what will truly help you transform your business and reach new heights. And all you need to do is simply use the tool and analyse the metrics it records.
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