6 ways NYSE Euronext Uses Panopto to Improve its Business, Part 1
This is the first of 3 posts detailing NYSE Euronext’s adoption of Panopto to record and manage video for product demonstrations, training, and corporate communication:
1. Empowering Product Managers at NYSE Technologies
2. Online Training and Integrating a Global Workforce
3. Recording WebEx Meetings and Executive Communication
NYSE Technologies adopted Panopto in late 2010 to help improve internal communication and education. In just over a year, Panopto has become a go-to platform for video at NYSE Technologies. A small group of early adopters has grown to include 750 users and is expanding every day. NYSE Technologies currently uses Panopto to:
- Record product demonstrations for internal audiences
- Develop online training
- Onboard new hires
- Record monthly and quarterly reports from the Chief Officers
- Record WebEx meetings
- Integrate its global workforce
PROJECT MANAGERS OVERWHELMED BY DEMAND FOR DEMONSTRATIONS
Michael Wanderer, Vice President of NYSE Technologies, was faced with a dilemma in late 2010. As the commercial technology division of NYSE Euronext, NYSE Technologies builds complex software products for the financial services industry. These products can be difficult to understand at a technical level, and Wanderer’s technology experts were becoming overwhelmed with requests for one-off demonstrations from both clients and NYSE Euronext personnel. “Our problem was that we had a limited number of experts,” remarks Wanderer. “I had to either scale up in the number of experts or find a technology partner that could leverage their expertise for us.”
NYSE Euronext had experimented with different means of recording product demonstrations, but the process was costly and inefficient. “We were struggling to attach documents to video,” Wanderer notes. “We wasted a lot of time trying to combine various kinds of content. It just wasn’t effective. We needed a more integrated experience.” Wanderer enabled a small team lead by NYSE Technologies’ Business Analyst Erin O’Connor to develop a solution.
MANAGERS USE PANOPTO TO RECORD DEMONSTRATIONS FOR ON-DEMAND VIEWING
O’Connor’s team began experimenting with Panopto in late 2010. She soon started working with company product managers to create overview recordings of each of NYSE Technologies 30+ different transaction, data, and infrastructure products. Each video was to be under 30 minutes and provide a general overview of the product’s business model, including use cases, user profiles, competitors, and a brief demonstration of the product. Some managers combined video, audio, and screen capture for their recordings, while others elected to use PowerPoint slides, screen capture, and simple voice-over to narrate the session.
Regardless of the inputs, Panopto integrated them all automatically with no post-production required. Product managers simply walked into a room with a camera, presented their material as usual, and then walked out. A high-quality, synchronized recording of all their inputs was available online within minutes.
According to Stanley Young, CEO of NYSE Technologies, “Experts who were bombarded with requests for demos are now over the moon with the ability to do it just once. Panopto takes the learning experience to a more intimate level, which sounds strange since you’re actually eliminating some live interaction, but you are also allowing people to learn at their own pace and focus only on the content relevant to them.”
The use of Panopto for product overviews and demonstrations has had an important effect beyond simply saving time and money. “Previously it could take someone three to four months to really get immersed in a product,” says Young. “Our process is more efficient now, and that’s where we see the greatest benefit. Using Panopto makes us more effective internally which, in turn, enables us to communicate more effectively with our customers.”