TD Bank Merchant Services department uses SharePoint to encourage employee creativity and increase efficiency in bringing new ideas to fruition
The Toronto-Dominion (TD) Bank is the largest bank in Canada by total assets. With an eye on innovation through digital technology, the bank has been placing significant emphasis on becoming the “bank of the future” and providing employees and customers with a cutting-edge digital experience.
As one of Canada’s “Big 5” banks and with over 90,000 employees, TD is a massive enterprise. The amount of projects that occur is staggering, and the amount of ideas for new projects is even more so. With this many employees, it’s easy for voices to get drowned out and for ideas to either not get heard or to progress slowly up the chain of command. As such, it’s critical that the right process is in place to make sure nothing gets lost in the shuffle and the best ideas come to fruition. The Merchant Services department at TD wanted an application in which people could submit project ideas (i.e. a new IT application) and have their ideas “automatically” progress up the chain of command – with all of the necessary information required to make the best business decisions possible on which ideas to pursue.
TD partnered with MRS to make it happen. Built on the SharePoint platform and leveraging SharePoint workflow capabilities, the solution allows for project idea submission and new ideas from all employees. Automated workflow process makes sure everyone knows when it is their time to add information (i.e. “this project will require ‘x’ resources from ‘y’ team”), and who/where to pass the idea to upon the completion of their task. With necessary forms and fields to fill out and a mandatory chain of command, the solution enforces TD’s best practices and disallows inadequate information to progress any further.
The solution results in an increased efficiency in bringing new ideas to fruition. Furthermore, all employees feel empowered to voice their ideas and opinions because they truly feel that the right process is in place to make their voice heard. The solution has therefore inspired creativity and helped jumpstart innovation and new ideas internally at TD Bank, as well as improving the overall productivity behind launching new endeavours.