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It is always good business to find ways to cut costs without hindering performance. VoIP telephone systems are a rare example of a new system that not only delivers an enhanced service but can also considerably improve the bottom line. Communication costs are going to vary between companies, but a fair approximate estimate would say that it costs between $40-60 per connection to a traditional phone line. VoIP can reduce that expenditure by up to 50% – although a more realistic estimate would be around the 30% mark for most companies.
Whichever way you look at it VoIP can most certainly provide enormous savings – explaining why so many companies have been switching in recent years. Here are the main ways how VoIP phone systems can save money.
1) Removes Private Branch Exchange (PBX) Costs
PBX hardware is very expensive and needs near-constant servicing and updating. These exchanges are necessary to connect all the handsets throughout a company to a central exchange switchboard. The resulting costs are universal for companies of all sizes and are one of the largest administrative costs even for smaller organizations.
VoIP simply uses the existing broadband connection to carry phone calls. No additional hardware is required, and the only real expense may be a need to upgrade the speed/capacity of the internet connection (especially for larger companies). Compared to PBX the savings are as clear cut as it gets.
2) Less Wiring
VoIP requires only an ethernet connection. They are far more efficient than the masses of copper wiring demanded by traditional phone lines. As they carry both voice and data concurrently along the same channel they are simply more efficient and require far less maintenance and upkeep.
One of the key advantages of VoIP connectivity is that users are much more mobile and can connect to their network from any workstation. This makes number allocation also far easier to manage compared to old fashioned extension numbers. It is possible to even run an entire VoIP network via wifi – something which is only going to become more common as technology and speeds continue to grow.
3) Much Lower Call Costs
As VoIP calls are essentially data, their cost directly correlates to the data package used by the company. Across the telecommunications industry, the price of data has been rapidly falling in recent years – and it is extremely unlikely for this trend to slow down or reverse anytime soon.
Cheap data equals much cheaper calls. It is difficult to estimate exactly what saving this will be across the board, but it is realistic to expect 30-40% cheaper domestic calls and a staggering 80-90% savings on international. For companies who operate throughout the world, VoIP can deliver incredible savings.
4) Multiple Indirect Savings
So far we have seen how these phone systems can lead to excellent savings on communication costs, but the flexibility of VoIP systems also provides a number of more difficult to measure advantages. Most of these relate to how they can help a business run in a more streamlined and productive measure.
Remote Working: Numerous studies have proven that allowing employees to work from home for a proportion of their week enhances their productivity. VoIP phones help create a virtual office that can perform all of the functions of a standard workplace. Naturally, this can cut the need for actual office space and allow businesses to operate from smaller premises.
Additional Features: Most quality VoIP providers will include features such as call handling, transfers, group chat, and others as standard. These are available with a PBX set-up but will cost extra. Additional features such as message taking and out of office notifications can replace the need for support/secretarial staff, especially within smaller companies.
Companies who make the move to a VoIP phone system and take full advantage of the many ways it can enhance their performance will reap sizable rewards. While it can be daunting taking the step into new technology, the fact remains that when properly embraced it will not only cut costs but considerably enhance business operations. Alongside the simple fact that these systems will save money, they add an additional layer of functionality, security, and quality that can be tailored exactly to your business needs.