Today, TD Bank's enterprise social network has more than 65,000 employees who have engaged with the system, and more than 4,000 communities, blogs and wikis have been set up. "Those are really high numbers because like many retail workforces, we have a lot of people coming and going," Arnott says.
As a result of TD Bank's enterprise social network deployment, some business units have seen a drastic reduction in email--by as much as 40 to 1, Arnott says. The business is also a lot more transparent, and collaboration is at an all-time high.
"Employees are using the site for idea generation, suggesting policy changes and for project management," Arnott says. "Not only is it a more efficient way to work, but it helps when you work in a dynamic organization and not everyone is in the office every day. It's an easy way to bring people into projects and catch them up on the dialogue and what's happened."
Arnott attributes the project's success to a number of factors, but specifically points to its partnership with IT. "If it had just been the business going off and trying to do this on their own, we wouldn't have had a good solution," she says. "It's a partnership."
Crisp agrees. "There were three reasons we were so successful: First, we had strong senior executive sponsorship. This was a project driven from the top. Second, we had a business partner that was 100% engaged and focused on driving adoption of the product," she says. "And third, we had significant investment from IBM, which helped us resolve technical issues quickly. This was a strong example of how business and technology can work well together; how true partnership can drive business value."
Kristin Burnham covers consumer technology, social networking and enterprise collaboration for CIO.com. Follow Kristin on Twitter @kmburnham. Follow everything from CIO.com on Twitter @CIOonline and on Facebook. Email Kristin at email@example.com