In the first of a series of articles on M365, I start with exploring Microsoft Stream. It’s one of the applications that comes with many M365 subscriptions and which a lot of people are probably not conscious of. So what is Microsoft Stream, and how can it be utilised by accounting firms to their advantage? I got Microsoft Co-Pilot to help me find the answer and here it is.
What is Microsoft Stream?
Microsoft Stream is an enterprise video management service that is part of the Microsoft 365 suite. It allows users to create, store, share, and view videos securely within their organization. Stream is deeply integrated with other Microsoft 365 apps such as Teams, SharePoint, OneDrive, and PowerPoint, making it easy to incorporate video content into everyday workflows.
How Can Accounting Firms Use Microsoft Stream?
1. Training and Onboarding: One of the primary uses of Microsoft Stream for accounting firms is training and onboarding new employees. Firms can create a library of training videos covering various topics such as company policies, software tutorials, and best practices. This ensures that new hires have access to consistent and comprehensive training materials, which can be revisited as needed.
2. Client Communication: Accounting firms can use Microsoft Stream to create and share video updates with clients. This can include explanations of complex financial concepts, updates on tax regulations, or personalized messages. Videos can make information more digestible and engaging for clients, enhancing their understanding and satisfaction.
3. Internal Collaboration: Microsoft Stream can facilitate better internal communication and collaboration. Teams can record and share meetings, brainstorming sessions, and project updates. This is particularly useful for firms with remote or hybrid work environments, ensuring that all team members stay informed and engaged.
4. Knowledge Sharing: Firms can use Microsoft Stream to create a repository of knowledge-sharing videos. Experienced accountants can record tutorials, tips, and insights on various accounting topics. This can serve as a valuable resource for continuous learning and professional development within the firm.
5. Compliance and Documentation: Video documentation can be a powerful tool for compliance purposes. Firms can record and store videos of important meetings, client interactions, and compliance training sessions. These videos can serve as a record of compliance activities and can be easily retrieved when needed.
Conclusion
Microsoft Stream offers a versatile and powerful platform for accounting firms to enhance their communication, training, and collaboration efforts. By leveraging the capabilities of Microsoft Stream, firms can create a more engaging and efficient work environment, ultimately leading to better client service and business success. It strikes me that it works best in firms that are using OneDrive/SharePoint for document storage (natively or via a third-party app.)
I’ve included a couple of Microsoft links below if you’d like to explore this more.
Microsoft Stream—Enterprise Video Platform | Microsoft 365
Overview of Microsoft Stream (on SharePoint) – Microsoft Stream | Microsoft Learn
Rob Pillans | Planet Consulting
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