It looks like the Internet is about to create another revolution and take over the long-established multibillion telephone industry. Today, those in the know have already adopted VoIP, or Voiceover Internet Protocol, and soon the rest of the world will have to catch up. VoIP is the future of communication.
VoIP Reduces Business Overhead
What is the number one need of a business? To maximize profits. It can do this in two ways. It can either reduce overheads or increase revenue. VoIP allows a business to pay far less for its telecommunication needs.
Office telephone systems have long been seen as a necessary expense. After the telephone company had to come and set up its equipment, you had to predict how many telephone lines you would need for the year.
This inflexibility was seen as a necessary cost. However, during the holiday seasons, you might need more staff. During the slow seasons, you might just need to retain a core staff.
If you did decide to change how many lines you were using, it was not easy to reconfigure your telephone system.
Then, on top of that, you had to pay long-distance phone bills. If your business was growing fast, these may have been international calls to vendors to get the lowest cost on inventory.
Now with VoIP, all these hassles and expenses go away.
The bottom line is simple. VoIP services are much cheaper than any service contract with a phone company.
Instead of using their lines, you will be using the Internet to speak to customers, vendors, partners, and investors.
3 Major Reasons for Lower Cost
There are a number of reasons why VoIP will save you money over a regular service contract with a phone company; however, these three are the biggest:
1. Phone companies have to charge more because they have to use expensive copper wires to provide you with a phone line. Since it also takes time to install, you have to pay for labor costs as well. In contrast, with VoIP, your communication is piggyback riding on the grid already laid down for Internet.
2. It is expensive to change your office telephone system. If, for instance, you hire more employees or downsize a large number of employees, it requires a major revamping of your current telecommunication installation. With VoIP, it’s easy to add, reassign, or drop phone lines. In other words, scaling up or down is quick and hassle-free.
3. It is expensive to make long-distance calls, especially with international calls. VoIP uses the Internet, which only requires the low monthly cost of your ISP.
Impact Only Going to Get Bigger
Although VoIP has proven its technological and economic advantages over traditional phone systems, many businesses still have landlines and appear to be oblivious to the quiet revolution occurring.
However, an article by Taylor Martin on pocketnow.com explains why VoIP is going to have a bigger impact on the future of telecommunications: “The reason VoIP seems the most logical is due to a statement made by AT&T CEO Randall Stephenson: “I’ll be surprised if, in the next 24 months, we don’t see people in the market place with data-only plans.” What Stephenson was referring to was a type of mobile rate plan that counts all types of usage – SMS, voice, and standard data consumption – as data. SMS and MMS, for example, would be measured in kilobytes and megabytes, and the duration of a call would be measured in the size of the transferred audio files, versus the duration of the call.”
A Feature-rich Service
Besides saving money, VoIP offers a large number of innovative features to improve business performance.
1. All its features are easy to administer and do not require technical training. This means that it’s possible to change menu features that enhance customer service as the business changes. Calls get routed to the right person without any problems and reduce customer wait times.
2. There is no need to have a network administrator or even a dedicated computer. All changes can be made on any computer at any time.
3. Since the technology is cloud-based, it’s easy for telecommunication to be used with portable devices like laptops, smartphones, and tablets. If a call is made to the office when someone is not in, it can be forwarded to their device. This is a huge advantage for a company that has telecommuting employees or employees who are often out on the field. As far as the customer is concerned, the call they made to the office got through to the right person without a problem.
4. It is even possible to run an entire business built on an outsourced labor force from a bedroom but give the caller the impression that they are calling a large business with many employees.
5. Important calls will not be missed even if someone calls after hours. This type of flexibility is impossible with traditional landlines.
The Technology Will Only Get Bigger
According to Teotech.com, VoIP is forecast to capture an even bigger market share in the future: “In October, Transparency Market Research forecasted a 9.7 percent compound annual growth rate for the global VoIP market from 2014 to 2020. But even as the VoIP market cruises to a cool $136.76 billion expected value in the next half-decade, opportunities to make a good thing better will continue to arise.”
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