5 Hidden Challenges of Slack Implementation

If you have been exploring new ways for your teams to collaborate, chances are Slack feels like a strong contender. With Slack, communication becomes centralized, flowing much more intuitively than it tends to over email. You can share files, start video calls, leverage automation, and set reminders for yourself or others.

Slack surpassed the 12 million user mark in 2020, with new accounts surging as more companies embrace remote work. The platform is one of the top business communication apps for industries across the board, including the heavily-regulated financial sector. This guide will explore the benefits and challenges of Slack as a tool for digital collaboration in banking and financial services.

There’s no doubt that a tool like Slack can improve communication and collaboration within a company—but it also introduces certain legal and compliance risks. Just ask luggage company Away.

As both government organizations and private-sector companies deal with the realities of a global pandemic—specifically the need to get crucial work done with a distributed, remote workforce—team collaboration tools are proving to be incredibly valuable.

The COVID-19 Pandemic has forced many organizations—both large and small—to quickly change the way they operate. As formal lockdowns and social distancing guidelines were published by governments all over the globe, companies were left to figure out how they can get the job done with a remote workforce.

There are a lot of benefits to implementing a team collaboration tool like Workplace from Meta. As I’ve written before, an enterprise social network can improve communication, streamline collaboration, and even improve and strengthen the culture of your organization.

As I’ve written before, team collaboration tools—also called enterprise collaboration software or enterprise social networking—offer incredible benefits. For evidence of this, you need only look at a recent Forrester study that found Workplace from Meta to offer an ROI of 400%. According to the study, an investment of $2.6 million could provide quantified benefits over three years of $13.1 million. And companies could start seeing this substantial return on investment in as little as three months.

Communication is key to business. For evidence of this, just consider the fact that we send 125 billion business emails every day. It’s also the reason why enterprise social networks and work collaboration tools have become so popular. These tools streamline communication, which has a direct impact on productivity. A study of Workplace by Facebook conducted by Forrester Consulting has shown that the platform can increase task efficiency, decision-making, innovation, and onboarding enough to offer an ROI of 400%.

Enterprise collaboration platforms—sometimes also called enterprise social networks—are changing the way companies operate, including your own. Even if you’re not familiar with the term “enterprise collaboration software”, you’re undoubtedly familiar with the team collaboration tools this term refers to: Workplace from Meta, Slack, and Microsoft Teams.

Just as our personal relationships have evolved to exist online through likes, tweets, shares and group chats, so have our professional relationships. Chatting with your employees or using a poll to determine your next team building activity through might be the norm if your organization has adopted a collaborative social media network in the workplace, also referred to as an enterprise social media network.