January 21, 2015

Article

Enterprise video emergence signals development of the digital workplace

In the age of the digital workplace, chief executives are continuing to adapt to the latest technologies by gradually developing their business models.

With the rise of cloud computing, companies have been able to streamline operations and ease the process of data storage and sharing. This technology has diminished a wide range of costs and encouraged employee to employee collaboration. Another emerging tool is the internal social network. This concept differs from public social networks because it includes only company workers. However, the functions are very much the same, enabling employees to share information that is either entertaining or relevant to work. These are just a few of the many emerging technologies that are proliferating in offices across the globe.

While critics often argue that too much focus on employee engagement deters productivity and performance quality, many researchers have stated that the long term benefits of workplace satisfaction outweigh the short term sacrifices of time. As human resource departments form their employee engagement strategies, video is now often at the core of the tactics. Business leaders are increasingly knowledgeable of the many benefits offered by video, which can immerse employees in a subject through a quick and efficient presentation.

The vast majority of economists, traders and financial analysts project the recent surge of the U.S. economy to continue over the course of 2015. While global markets in Japan and Russia, among others, have tumbled alongside declining prices of crude oil, American companies have been steadfast. As the economy continues to grow, business leaders will have more funds that they can allocate for employee engagement practices. This means that video, already a core part of the U.S. business culture, may soon become an even larger part of the daily workplace routine.

Vidyard raises $18 million to expand business footprint
There are a number of different companies that are catalyzing the rise of enterprise video. Vidyard, a video marketing platform based in Ontario, Canada, has raised $18 million in capital from a host of investment partners, according to the Exchange Morning Post. Investors include iNovia Capital, SoftTech VC, OMERS Ventures, Salesforce Ventures and Bessemer Venture Partners, which supports LinkedIn, Pinterest and Shopify.

According to the news outlet, Cisco estimates that video will accumulate approximately 79 percent of web traffic by 2018. The heightened demand for video platforms will put greater pressure on Vidyard to keep pace with the industry’s growth.

“There’s no question that it’s difficult to hire incredible sales talent in this area, at least in what we do, which is business to business, software as a service sales, on a monthly deal cycle with high velocity deal flow,” Vidyard CEO Michael Litt told the news outlet. “So, what we’re doing is developing a program to actually take new grads and individuals with an interest in technology and develop them into account executives focused on selling our technology over time.”

Glowpoint unveils video collaboration service
Glowpoint Inc. is another company spearheading the business-to-business video collaboration movement. The Denver-based group recently announced that it has launched a new video service platform that will allow businesses to use cloud-based services to manage video collaboration.

The company noted that the new service will provide a larger scale of self-service support, more efficiencies via manual tasks and access to internationally acknowledged best practices, among other advantages.

“Our vast experience in providing enterprise videoconferencing services globally enables us to tailor the ServiceNow platform and deliver enterprise IT with a very efficient ecosystem for managing video collaboration,” said Peter Holst, CEO of Glowpoint. “This combination of Glowpoint and ServiceNow lays the groundwork for the Video Service Platform to be plugged into any enterprise environment, addressing several needs of our existing and new enterprise customers and significantly expanding our addressable market.”