The rise of enterprise messaging has been sudden, disruptive and profound. IDC estimates that the global market for enterprise collaboration tools will reach $3.2 billion by 2021. And according to Gartner, by 2022, 70% of teams will rely on collaboration tools as the primary means of communicating, coordinating, and sharing information.
With all this rapid change, we at Symphony wanted to take a step back and understand how both users and IT executives were looking at the implementation, usage and adoption of these tools. To better understand the attitudes of each group, we conducted a survey with 150 executives who are responsible for adopting and deploying team collaboration applications for their companies, and 150 “in the trenches” workers who use collaboration tools frequently at their jobs.
What we found, overwhelmingly, is that the results point to continued success, innovation and adoption within this space. For instance:
Users and executives alike agree that team collaboration apps have made them or their teams more productive and efficient:
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Users report that collaboration tools have reduced their use of email and accelerate their response time:
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Of note, the security of these platforms was one of the main points of disagreement between the executives and end-users we surveyed. As the market continues to grow and collaboration tools become more prevalent, we expect to see CIOs, CSOs and IT executives more critically evaluate which collaboration tool to adopt.
Employees’ attitudes toward security are wildly inconsistent with IT executives’ views on security:
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We’re also excited to see how users and IT teams will work together to introduce more integrations and automation into collaboration platforms as the space matures.
Executives want to see more capabilities in their collaboration tools like chatbots and workflow integrations, and plan to invest in these:
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Ultimately, the enterprise messaging and collaboration is still young, still growing and still changing. As our CXO, Jonathan Christensen wrote earlier in this blog:
“The team collaboration market is booming and will undoubtedly be one of this years’ most exciting to watch. As more companies realize the value of deploying team collaboration software, a surge of new startups will be inspired and major market events (for instance, Slack’s recent IPO announcement) will become increasingly common. New ground will be broken, with collaboration tools providing greater efficiencies and organization to users, but new threats will emerge, too.”
Symphony is now in its tenth year of developing secure and compliant communications technology for global financial market participants. With over 500,000 users and more than 1300 firms using Symphony solutions, our industry relevance [and reliance] is widely recognized by clients, partners, regulators and journalists.
Our latest demo prepares Operations teams for the shortened T+1 settlement cycle. Watch this Q&A with UBS, Citi, JP Morgan, and Wells Fargo as they discuss how Symphony’s Operations Directory streamlines post-trade issue resolution with use cases including escalations, trade exceptions and settlement issues.
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