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Why is it vital to be agile in the first place?
Regardless of your size, the need for instant access to relevant information
and applications has always been a critical factor driving productivity. There
is a growing need to bridge the gap between where your employees actually are
versus where they need to be. Unsurprisingly, this gap often manifests itself
in abysmal member service levels.
Estimate the average length of time it takes for the following simple tasks
to get accomplished at your credit union:
- A “fraud alert” or a “risk alert” reaches all your
- Your marketing department polls your entire frontline staff about the response
to a new marketing campaign
- Revised interest rates are recognized by all your frontline staff
- A new teller finds and references your credit union’s policy on sick
days or vacation
If it takes more than a couple of minutes for any of the above tasks, then
chances are your credit union doesn’t have a corporate portal in place.
Fact: Your communication platform needs to be agile for your
business to be so.
An intranet does not represent an agile communication platform; the time of
the corporate portal has arrived.
A corporate portal can streamline communication between management and employees,
helps employees collaborate more easily, by giving them role-based access to
the information and applications they need to successfully perform their job.
Aside from information sharing, your credit union can also benefit from, like
many others, portal modules that automate internal business processes like Expense
Reporting, Timesheets Routing, Member Contact Management and internal Help Desk(s)
Management all without the help of your IT department!
Intranets and email are falling short
The emergence of portals is a direct result of the pervasive connectivity afforded
by the Internet, combined with the speed of business and the ever-increasing
volume of information. Using an Intranet managed by your IT department is a
definite obstacle for your employees to work nimbly. The usual and customary
method for creating annotations and observations is by e-mail. E-mail is a great
way to send individualized messages to people that can’t be discarded.
However, the very fact that email is individualized by our own inboxes is one
of its biggest weaknesses.
It is key to balance centralized control and local administration of portal
content. Credit unions using this unique method are happy to note that all their
employees stay tuned to their corporate portal and benefit from its powerful
alerts system and search engine. Even the credit union directors now have access
to board packets via the web. Unlike intranets and emails, this type of solution
captures every click stream on the portal and makes knowledge management a reality.
By employing a portal that has balanced centralized control and local administration
of content in your credit union, you (or your members) will never hear “I
didn’t know” from your employees! Now, that’s a sure sign
of organizational competence and effectiveness, or shall we say agility.
A well-implemented corporate portal can pay for itself within the first year.
Furthermore, the cost of implementation is at an all time low due to the competitive
pricing of software. The tools have matured through the investment of early
adopters: Purdue Employees Federal Credit Union is a stake holder and has been
a believer in Passageways, one solution that offers these services, for almost
18 months now. In fact, during the last 5 months, ten credit unions ranging
from $100 million in assets to over $1 billion in assets have embraced Passageways.
The adoption curve for portal technology in the credit union industry will hit
its peak this year and next. The interest in portal technology lies not only
in the proven return on investment but also in the very nature of the tools
themselves. Portals are an evolutionary step in Web-based information systems
and according to META Group, "organizations without a portal framework
by YE04 will be at a competitive disadvantage." You don’t want to
be left behind!
Passageways is the leading provider of corporate portals to the credit union
industry. For more information on how Passageways can help your credit union,
visit www.passageways.net or contact us for a demo at (765) 497-8829. To sign
up for Passageways' monthly newsletter on corporate portals, click
here or to learn more visit our website www.passageways.net
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