Financial organisation uses VC to achieve competitive edge

HSBC, one of the world`s largest banking and financial services organisations, has invested in a videoconferencing solution from Dimension Data`s audiovisual communications company Videre, to improve productivity and enable faster access to information in the fast-paced equities market.

"Investment professionals need to have timeous access to information to enable them to capitalise on opportunities in the equities trading market," says Chris Mahncke, associate director and head of IT development at HSBC. "The videoconferencing solution from Videre provides us with the competitive edge in this market.

"We view videoconferencing as a mechanism for improving the way we conduct business," says Mahnche, "rather than a cost saving device".

"Ultimately, Johannesburg-based analysts will videoconference to other HSBC offices in Cape Town, Durban and Windhoek to share information on the daily financial markets. The traders in remote locations will be able to work with this information to make the best decisions for their clients," says Mahncke.

"Videoconferencing is a far more interactive medium than the intercom system we used before," he says. "By videoconferencing, the traders will not only see and interact with the analysts but also view documents (such as reports and graphs) which are published on-screen via a document camera."

Videoconferencing will also be used for communication at an executive level, when HSBC has board meetings with its London head office. The videoconferencing system will be put to a variety of other uses such as team talks, company announcements, distance education, IT meetings and induction programmes.

"Our videoconferencing system will substantially improve communication between our branches in Windhoek, Durban, Bellville, Cape Town and Killarney. We will have videoconferencing systems in all these places and envisage rolling out more units," he says.

The videoconferencing solution at HSBC will not just be used locally but will also provide the ability to videoconference within the global group and to third parties abroad. Face-to-face communication with other financial services organisations will also be facilitated through videoconferencing.

With a client base of over 300, including all the major South African banks and numerous financial services organisations, Videre is ideally positioned to offer audiovisual communication solutions. "Videre`s market position was not the only deciding factor in our choice of solution provider," says Mahncke. "The company`s status as preferred supplier of PicureTel equipment locally also played a role."

The fact that Videre belongs to the global Dimension Data group gave HSBC additional confidence.

"Few companies can offer such a wide range of videoconferencing solutions or have such integration experience," he says. HSBC now has eight videoconferencing units, from top of the range group videoconferencing systems to smaller PC based units, located in various offices across South Africa.