The last thing you want to do when you have a great car is drive it down an unpaved dirt road. To avoid damage you may throttle it down and creep along to ensure your “baby” isn’t damaged! The same could be said for your Credit Unions telecommunications strategies – you may have the latest and greatest delivery channels but your service levels to members and staff could be suffering due to poor telecom design. And in case you were wondering, poor design is more likely to be a result of available options/timing vs intelligence ! That’s why smart Credit Union CIOs are deliberately watching the clocks on their existing contracts and preparing to make the move to managed telecom. In this post we will review the specific areas managed telecom covers and how you too can prepare!
5 Key Telecom Components
ISP (Internet service)
1) Branch Telecom – Nothing kills member service faster than a slow connection. Help improve your member experience by ensuring you have adequate bandwidth and security to meet the demands.
When gathering data to research your branch telecom needs remember to include these key areas:
Branch 1 – X MPLS
Backup Connections (4G/DSL)
2) ISP – Internet Service Provider – When we perform BIAs ( business impact analysis) it is always enlightening to see how dependent we’ve grown as an industry on the internet. Many of the delivery channels and key services require connectivity to function. Having one connection/provider continues to be a large risk that Credit Unions are assuming – mostly due to the cost of redundancy. Managed telecom because of its aggregated service structure can provide relief in this area. Key costs to consider for comparison purposes include:
ISP Provider A
ISP Provider B
LoadBalancing & DDOS
3) Voice – Ask one of your call center agents how important your voice services are to your members and you’ll get an earful. Even with the growth of self service channels like ATMs and Online Banking, your members still want to talk to “a real person”. Before you speak to a Credit Union managed telecom provider you’ll want to gather information on the following:
4) Managed Network – Your network components also need to be considered when making the move to managed telecom. These devices are rarely plug’n play and require expertise and oversight (not to mention replacement and upgrades ). Include these key components in your research:
Logic Monitoring Solution
Moves, Adds, Changes
5) Third-Party Connections – and then there are your connections to everyone else. The majority of these connections are expensive and require significant bandwidth and security making it unlikely that Credit Unions can afford to duplicate for disaster recovery purposes. So when you’re down, you’re down. This is where managed telecom really creates a WIN for Credit Unions. Gather this information and look for a managed telecom provider familiar with your specific connections (OGO has many that Credit Unions are reliant upon):
Credit Card Connection
Debit Card Connection
Backup Voice Circuits
Backup ISP Circuits
Online Banking Connection
Federal Reserve Connection
Shared Branching Connection
We hope this is a good starting point for you to begin planning your move to managed telecom. We’d be glad to review each area in detail with you. Reach out below to speak with our solutions engineers to get your free Total Cost Of Ownership today.