RaymondJames Financial Services Enhances Customer Service with Microsoft Office Live Meeting: Case Study
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RaymondJames Financial Services Enhances Customer Service with Microsoft Office Live Meeting: Case Study

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RaymondJames Financial Services Enhances Customer Service with Microsoft Office Live Meeting: Case Study RaymondJames Financial Services Enhances Customer Service with Microsoft Office Live Meeting: Case Study Document Transcript

  • Microsoft Office Live Meeting Customer Solution Case Study Raymond James Saves Money While Continuing Enhanced Customer Service Overview “Recently, a client was traveling in Asia on extended Country or Region: United States Industry: Financial services vacation. Office Live Meeting allowed the financial advisor to connect with him and review his portfolio as Customer Profile Raymond James Financial (NYSE-RJF) is a if they were sitting in the same office.” Florida-based diversified holding company Rob Schwartzberg, Technology Product Manager, Raymond James Financial providing financial services to individuals, corporations, and municipalities through its Raymond James Financial is a leading financial services company subsidiary companies. with more than 4,600 financial advisors providing services from Business Situation 2,200 locations throughout the world. Part of its success depends Raymond James needed to provide employees across the globe with audio and upon its advisors’ ability to provide personalized one-on-one service video conferencing and collaborative to each of their clients. Raymond James needed a communications document sharing. solution that would permit it to provide this individualized service Solution regardless of the physical location of the advisors or clients. The Raymond James is implementing Microsoft® Office Live Meeting as a fully company adopted Microsoft® Office Live Meeting, taking advantage integrated communications system of its fully integrated audio and video solutions. Raymond James throughout its offices and affiliates. continues to provide enhanced client service and enjoys increased Benefits collaboration with its offices and affiliates worldwide.  Enhances customer service  Advances office communications  Saves time and money  Increases environmental conservation  Adds a competitive recruitment tool
  • “Office Live Meeting will Situation collaborative document sharing. “We have Florida-based Raymond James Financial offices all over the world. We were looking for provide a total provides financial services for a multitude of a way to build the relationships between our communications entities throughout the world. It manages in home office, second office, and branches,” excess of U.S$35.4 billion dollars for says Rob Schwartzberg, Technology Product solution that should individuals, pension plans, and Manager, Raymond James Financial. help us save money municipalities. It currently has more than 4,600 financial advisors providing services at Solution through reduced travel 2,200 locations throughout the United States In February 2006, Raymond James costs both domestically and internationally. considered Microsoft Office Live Meeting (2005) along with competing products such and overseas.” Because the company is known for providing as WebEx, GoToMeeting, and more specific Rob Schwartzberg, Technology Product “Individual Solutions from Independent solutions such as software-based and Manager, Raymond James Financial Advisors,” it relies heavily on travel and face- hardware-based dedicated conferencing to-face meetings to provide these services, systems. It chose Office Live Meeting and sometimes logistics make these because of its ability to integrate well with the meetings very difficult. Raymond James’ Microsoft Office system, its easy financial advisors and employees wanted a implementation, simple licensing, and better way to provide clients this same level corresponding cost savings. Raymond James of personalized services remotely. then performed a targeted deployment primarily in its IT department prior to the Raymond James also wanted to enhance its arrival of Office Live Meeting (2007). communications effortlessly, seamlessly, and accurately between its two main offices—its In June 2007, Raymond James implemented headquarters in St. Petersburg, Florida, and a Office Live Meeting (2007) in various offices/ corporate location in Southfield, Michigan. departments. The company can use it to run Because the distance makes interoffice interactive, collaborative meetings and communications more challenging, the firm presentations with anyone from anywhere wanted a solution to reduce some travel while producing high-fidelity recordings of the without affecting the development of its meetings for future use by employees. There current employee relationships and are currently 151 originators taking productivity. advantage of Office Live Meeting throughout the company. These users are located in To fulfill both the office and client more than 15 offices and performed more communications needs, Raymond James was than 232 total meeting sessions in July using a variety of products, including a mix of 2007. Users may alternate control of Microsoft® NetMeeting® conferencing documents used during the meeting and software and a dedicated hardware-based essentially give presentations in tandem. conferencing system supplemented with a Additionally, originators may send an custom-framed plug-in to deliver the video invitation to meeting attendees giving them conferencing. Raymond James wanted a all necessary information to participate in the more comprehensive communications meeting. The attendees need only internet solution that would provide audio, video, and access. By October 2007, Raymond James
  • “With Office Live plans to have the desktop client on all its in our Michigan and Florida offices, but we workstations. It will be able to run generally have someone who is traveling who Meeting, we can set up collaborative meetings effectively with every needs to attend. Office Live Meeting allows a session with our one of its branches, affiliates, and them to participate as if they were present,” subsidiaries worldwide. says Schwartzberg. Employees increase their technical staff, thereby productivity with the enhanced saving money and communications features in Office Live Meeting. avoiding an on-site Benefits vendor meeting.” Raymond James has enhanced client service, Raymond James was able to bridge the increased employee collaboration and saved distance between its headquarters in Florida Rob Schwartzberg, Technology Product time and money with Office Live Meeting. and its second corporate location in Michigan Manager, Raymond James Financial and give its employees face-to-face Enhances Client Service interaction without actual travel. “Using Office Raymond James prides itself on providing Live Meeting gives the Southfield, Michigan, personalized service. With Office Live associates the feeling that they are part of Meeting, advisors can meet with clients more our headquarters,” says Schwartzberg. Also, frequently, continuing to provide them with should some employees be unable to make a personalized service. Sometimes a client is meeting, they can take advantage of the unable to come into the office, but a phone recording ability in Office Live Meeting call will simply not provide enough without installing any additional software. information or the level of personal service “The product is good because they can view it the client has come to expect from Raymond when it is most convenient. They don’t need James advisors. Office Live Meeting improves any special players or viewers to do it. It communications by providing clients— integrates directly into the rest of our regardless of where they are—instant, desktop,” says Schwartzberg. personal access to their financial advisors, without requiring them to obtain additional The ability to review new products and software. “Recently, a client was traveling in provide comprehensive presentations to Asia on extended vacation. Office Live branch offices has been important too, Meeting allowed his financial advisor to especially when there needs to be more than connect with him and go over his portfolio as one presenter. Using Office Live Meeting, if they were sitting in the same office,” says presenters can switch control of the desktop Schwartzberg. to provide the necessary visual cues. “We’ve had a remote financial advisor and someone Advances Office Communications from our home office give a joint Meetings using Office Live Meeting are presentation. This would have been interactive and make possible the sharing of impossible using our previous system,” says documents and instant collaboration. Schwartzberg. Employees can use Office Live Raymond James has more than 2,200 Meeting to conduct multipoint video branch offices and many mobile financial conversations—an important feature for advisors. “Every Friday we have an IT Raymond James. management meeting, run by our CIO. It’s run
  • “We love Office Live Meeting. Everyone I show Less use of common forms of transportation it to absolutely raves about it,” says (for example, airplanes, cars, and trains) will Schwartzberg. result in decreased environmental strain and related cost savings. Saves Time and Money Employees can use Office Live Meeting to In addition, the company’s branch offices will improve collaboration and reduce the time not have to worry about missing important needed to finish documents that require meeting documents or receiving unnecessary multiple reviews. “The software allows people paperwork for those meetings. With Office to collaborate on a document at the same Live Meeting, the attendees are now in time, resulting in a lot less necessary rework. control. They can choose to print out relevant Everybody works together instead of having parts of a presentation or simply save a local to work in shifts,” says Schwartzberg. copy of the handouts that result from the meeting. The result is less use of paper and Financial advisors and many employees of saved costs. Raymond James travel extensively throughout the world to provide personalized client Adds a Comp etitive Recruitment Tool service and keep their interoffice The ability to recruit and retain successful communications optimized. While important, advisors is essential to the success of this is expensive and time-consuming. “Office Raymond James. By offering Office Live Live Meeting will provide a total Meeting as a communications tool to its communications solution that should help us advisors, Raymond James gives them the save money through reduced travel costs ability to provide face-to-face service when a both domestically and overseas,” says physical meeting is impossible. In addition, Schwartzberg. the relationship between Raymond James and its advisors is highly supportive. “We Raymond James engages thousands of have a one-on-one relationship with every vendors. These vendors generally must one of our financial advisors. Having Office provide support and training for their Live Meeting makes it easier for us to products. This used to involve travel and on- maintain those relationships. We can site meetings. “With Office Live Meeting, we communicate with them, share things with can set up a session with our technical staff, them, and do it on a much more frequent thereby saving money and avoiding an on-site basis,” says Schwartzberg. vendor meeting,” says Schwartzberg. Moreover, much internal training regarding “Live Meeting will help us in our recruitment new systems within Raymond James is being efforts because it provides advisors with performed using Office Live Meeting. increased independence and connectivity at the same time. It gives them the best of both Increases Environmental Conservation worlds. They love it because it lets them get People can use Office Live Meeting to provide in contact with their clients when occasionally personalized communication that in the past it might be very difficult,” says Schwartzberg. could only be matched by actually traveling to meet with a colleague, client, or partner.
  • Microsoft Office System The Microsoft Office system is the business world’s chosen environment for information work, providing the programs, servers, and services that help you succeed by transforming information into impact. For more information about the Microsoft Office system, go to: www.microsoft.com/office
  • For More Information For more information about Microsoft products and services, call the Microsoft Sales Information Center at (800) 426-9400. In Canada, call the Microsoft Canada Information Centre at (877) 568-2495. Customers who are deaf or hard-of-hearing can reach Microsoft text telephone (TTY/TDD) services at (800) 892-5234 in the United States or (905) 568-9641 in Canada. Outside the 50 United States and Canada, please contact your local Microsoft subsidiary. To access information using the World Wide Web, go to: www.microsoft.com For more information about Raymond James Financial products and services, call (727) 567-1000 or visit the Web site at: www.raymondjames.com Software and Services  Microsoft Office − Microsoft Office Live Meeting This case study is for informational purposes only. MICROSOFT MAKES NO WARRANTIES, EXPRESS OR IMPLIED, IN THIS SUMMARY. Document published September 2007