Category: Collaboration and workplace (Page 33 of 94)

The use of microblogging and activity streams is maturing in the enterprise. This was demonstrated by recent announcements of enhancements to those components in two well-regarded enterprise social software suites.

On February 18th, NewsGator announced a point release to its flagship Enterprise 2.0 offering, Social Sites 3.1. According to NewsGator, this release introduces the ability for individuals using Social Sites to direct specific microblogging posts and status updates to individuals, groups, and communities. Previously, all such messages were distributed to all followers of the individual poster and to the general activity stream of the organization. Social Sites 3.1 also introduced the ability for individuals to filter their activity streams using “standard and custom filters”.

Yesterday (March 3rd), Socialtext announced a major new version of its enterprise social software suite, Socialtext 4.0. Both the microblogging component of Socialtext’s suite and its stand-along microblogging appliance now allow individuals to broadcast short messages to one or more groups (as well as to the entire organization and self-selected followers.) Socialtext 4.0 also let individuals filter their incoming activity stream to see posts from groups to which they belong (in addition to filtering the flow with the people and event filters that were present in earlier versions of the offering.)

The incorporation of these filters for outbound and incoming micro-messages are an important addition to the offerings of NewsGator and Socialtext, but they are long overdue. Socialcast has offered similar functionality for nearly two years and Yammer has included these capabilities for some time as well (and extended them to community members outside of an organization’s firewall, as announced on February 25th.) Of course, both Socialcast and Yammer will need to rapidly add additional filters and features to stay one step ahead of NewsGator and Socialtext, but that represents normal market dynamics and is not the real issue. The important question is this:

What other filters do individuals within organizations need to better direct microblogging posts and status updates to others, and to mine their activity streams?

I can easily imagine use cases for location, time/date, and job title/role filters. What other filters would be useful to you in either targeting the dissemination of a micro-message or winnowing a rushing activity stream?

One other important question that arises as the number of potential micro-messaging filters increases is what should be the default setting for views of outgoing and incoming messages? Should short bits of information be sent to everyone and activity streams show all organizational activity by default, so as to increase ambient awareness? Perhaps a job title/role filter should be the default, in order to maximize the focus and productivity of individuals?

There is no single answer other than “it depends”, because each organization is different. What matters is that the decision is taken (and not overlooked) with specific corporate objectives in mind and that individuals are given the means to easily and intuitively change the default target of their social communications and the pre-set lens through which they view those of others.

In a Regulatory Notice released earlier today, the Financial Industry Regulatory Authority (FINRA) opined that brokerage firms and their registered representatives must retain records of all communications related to the broker-dealer’s business that are made through public blogs and social media sites, such as Facebook, LinkedIn, and Twitter.

“Every firm that intends to communicate, or permit its associated persons to communicate, through social media sites must first ensure that it can retain records of those communications as required by Rules 17a-3 and 17a-4 under the Securities Exchange Act of 1934 and NASD Rule 3110. SEC and FINRA rules require that for record retention purposes, the content of the communication is determinative and a broker-dealer must retain those electronic communications that relate to its “business as such.”

Brokerage firms will now be required to archive and make discoverable business-specific content produced by their employees. They will also have to establish and maintain procedures that ensure a supervisor has either approved an interactive electronic communication before it is posted, or that a “risk-based” method of post-communication review exists and is exercised.

“While prior principal approval is not required under Rule 2210 for interactive electronic forums, firms must supervise these interactive electronic communications under NASD Rule 3010 in a manner reasonably designed to ensure that they do not violate the content requirements of FINRA’s communications rules.

Firms may adopt supervisory procedures similar to those outlined for electronic correspondence in Regulatory Notice 07-59 (FINRA Guidance Regarding Review and Supervision of Electronic Communications). As set forth in that Notice, firms may employ risk-based principles to determine the extent to which the review of incoming, outgoing and internal electronic communications is necessary for the proper supervision of their business. “

In addition, FINRA’s guidance states that all organizations under its purview must establish and communicate social media usage guidelines for their employees, and that those individuals must also receive employer-provided training on those guidelines.

“Firms must adopt policies and procedures reasonably designed to ensure that their associated persons who participate in social media sites for business purposes are appropriately supervised, have the necessary training and background to engage in such activities, and do not present undue risks to investors. Firms must have a general policy prohibiting any associated person from engaging in business communications in a social media site that is not subject to the firm’s supervision. Firms also must require that only those associated persons who have received appropriate training on the firm’s policies and procedures regarding interactive electronic communications may engage in such communications.”

FINRA’s guidance marks the beginning of a new era for financial services companies and their use of external social media. However, the Financial Services sector is not the only one that will be subject to regulation of communications made via blogs and other types of social software. An IBM Senior Product Manager related last week at Lotusphere that IBM customers in the Healthcare and Utilities industries were also beginning to ask about the management of user-generated and social content.

If your organization is currently required to comply with regulations pertaining to the use of email and instant messaging for business communication, expect to see similar requirements placed on your management of external blog and social media site posts in the near future. At some point, it is likely that these regulations will also be applied to internal communications conducted via enterprise social software.

Is your organization ready for this new era? Gilbane Group’s seasoned advisors can help you prepare to manage user-generated and social content. Contact us today to learn how.