With VoIP (Voice over Internet Protocol), communications rely on an internet connection, which means an on-premise phone system is no longer necessary. When businesses switch to VoIP, mobility, flexibility, and cost savings inevitably go up.
With so many advantages, many organizations are making the move from an on-premise phone system to cloud-based VoIP. According to Global Market Insights, the VoIP market in the US is expected to reach $55 billion by 2025, up from $20 billion in 2018, with a growth rate of over 15 percent for small to mid-sized businesses.
To better understand why VoIP usage is on the rise, let’s look at the specific ways that using VoIP drives efficiency.
Reduces the need for physical phone equipment
With VoIP, your staff can make calls over any device — tablet, computer, or smartphone, meaning your business doesn’t have to pay for phone equipment. There are no hefty setup fees or maintenance costs. Instead, your business will only pay a set monthly fee per user. Average cost savings for businesses that use VoIP are between 30 percent and 50 percent.
Not only is this generally much cheaper than installing a traditional phone system, but it also allows businesses to create a predictable budget. There are no surprise costs for phone system hardware repair or replacements, and scaling is usually as simple as adding more users.
Enables a BYOD culture in your workplace
Because employees can make and receive business calls from any device, your organization can increase efficiencies even further with a BYOD (bring your own device) policy. Users simply need to download an application to make VoIP calls from their phones. It’s then possible to make calls from anywhere to anywhere, as long as there is an internet connection. This eliminates the need for expensive long-distance call charges and boosts employee productivity.
Lowers the number of app subscriptions
The benefits of using VoIP transcend cost savings. With the right solution, you can streamline business communications into one app. Instead of having to pay for multiple subscriptions for video conferencing, voice, and other services, with a hosted phone system, your employees only need one application on their device.
They can also connect with each other faster because they can access different types of communication from one interface, which enhances employee collaboration.
Cuts the need to travel for meetings
Today, high-quality, reliable internet services are more widespread than they were a few years ago. As a result, you’ll get crystal clear communication with a cloud-based VoIP service, whether you’re on a teleconference or having a call with a co-worker. People no longer have to be in the same room to hold a productive meeting. Helping your business cut down on travel costs and save time.
Helps businesses prepare for downtime
Another way using VoIP drives efficiency is that it helps businesses prepare for downtime. Power outages and natural disasters are inevitable, and with a traditional phone system, this can lead to expensive downtime and business disruption.
Not with VoIP, however. Employees can continue communicating with customers, co-workers, and other stakeholders from their own devices. Using VoIP makes your workforce mobile, so people can still be productive while working remotely.
Flexibility is imperative today as remote work has skyrocketed during the coronavirus outbreak. It’s clear that agility will continue to be paramount in the new business normal, even after the danger from the pandemic has passed.
With VoIP, businesses are ready for tomorrow
Reliable, high-quality communications are a must for businesses of all sizes. With VoIP, collaboration, productivity, and mobility are a given, but without the high setup costs and extra expenses of a traditional phone system. Consider VoIP to ensure your business isn’t missing out on an important competitive advantage.