Global Enterprise Social Networks Market: Overview

Enterprise social networking refers to an organization’s use of social media, both externally and internally, to connect with individuals having similar businesses or interests. Internally, such social tools can enable employees to collaborate more effectively and tackle business challenges. Externally, such tools can give employees access to resources and knowledge about customers.

Enterprise social networking involves the use of in-house intranet software, along with third-party social media platforms, namely Socialcast and Yammer to better communication and collaboration between employees. Besides, having handles in public social media platforms of the likes of Twitter, Facebook, and Google+ can enable an entity to reach out to or stay connected with their customers and also carry out research to better business processes and operations.

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Global Enterprise Social Networks Market: Key Trends

Enterprise social network is an important problem solving tool that also brings about connectivity between different departments. Various organizations are implementing these to better communication and collaboration between employees’ via media. Enterprise social networks bring about seamless connectivity between departments and enable employees to voice their concerns via the platform. They also help to up productivity by allowing healthy exchange of ideas and suggestions between employees.

Another major benefit of enterprise social networks is that they bring about transparency in the functioning of the business. They are also an effective knowledge management tool. To promote their corporate image and brand, majority of large corporations are leveraging social media policies to ensure employees communicate without any hindrance using the various social networking channels.

However, unlike their larger counterparts, the small companies are concerned over the usefulness of enterprise social networks on account of the reduced number of employees they have. In addition to that, eager uptake of enterprise social networks by employees is another challenge.

Currently, enterprise social network is seeing uptake across industries spanning retail, IT and telecom, banking, financial services and insurance (BFSI), healthcare, and professional services. Among them, the IT and telecom sector is seeing substantial adoption of such tools tools. Going forward, other sectors namely retail and professional services are also predicted to emerge as major drivers of demand for enterprise social network.