The wait for Microsoft Teams is over! Can your RIA firm benefit?

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Slack is a well-known, cloud-based collaboration tool that helps your firm communicate better and be more productive. Microsoft Teams is Window’s own version with a twist and some of the features might be ideal for your RIA firm. It’s been reported that prior to its release, a gigantic update was rolled out that equipped Teams with a bevy of features that will definitely make a difference.

Smarter meetings

The latest addition to Microsoft Teams is Scheduling Assistant, responsible for finding the ideal time to schedule a meeting. It takes into consideration the schedules of all members, and suggests the best possible time for all attendees. Needless to say, whereas Teams allowed users to schedule only intra-team meetings, Microsoft now supports one-on-one meetings. If you want to steer clear of Skype, read on.

Bots, bots, and more bots

With the latest update, bots are now capable of tapping into conversations happening in a team as opposed to a separate chat. To activate team bots, simply type “@” and begin interacting with the bot from there. Microsoft is also working on adding a Bots tab to Teams. This allows you to keep track of all the bots that have been added to a certain team while allowing you to discover new tabs as well. Other bot-related improvements include:

  • New bot gallery – the gallery displays a complete list of all the available bots on Microsoft Teams. Alongside the gallery is where you can add bots to one of your teams.
  • Discover bots via search – simply click on the search bar at the top and select “Discover bots”. From there click on a bot to start chatting, or click “Add” to add it to a team.
  • Add a bot with an @mention – to add a bot to a channel, simply type “@” in your compose box, then select “Add a bot”

Public teams

With public teams, anyone from your RIA firm can join the team, unlike the private teams which are open only to specific members. Public teams will show up when a user is trying to join a new team, and you can also turn your existing private team into a public team (and vice-versa).

When it was launched in November 2016, Teams was a relatively minimal service. But in just four months, it’s become a lot more powerful and stable. Microsoft Teams has been available to Office 365 Business Essentials, Business Premium, and Enterprise E1, E3 and E5 users since March 14th. If you have any questions, don’t hesitate to give us a call!

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