Voice over Internet Protocol (VoIP) is an essential feature in a business, and it’s also the future of business. According to Yahoo, the global VoIP market was valued at $85.2 billion in 2021 and is expected to reach $102.5 billion by 2026. VoIP offers various benefits, such as cost reduction, improved productivity, better customer service, and many more, to be the future of communication in business. This article discusses all such features and benefits:
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VoIP’s Prices Are Falling, and Features Are Increasing
VoIP is a technology that allows you to make and receive phone calls over the internet. This can be done via a software application on your computer or by using an IP phone (or “softphone”). Despite being an older technology, VoIP has always been more expensive than traditional landline phones. However, prices are now falling, and new features are increasing in number. These trends have made it easy for many businesses to justify switching from traditional telephone services to VoIP options. While the initial cost of deploying the services may be high, VoIP offers many cost-saving options.
As mentioned above, business owners looking at switching their current telecommunication services should consider the cost savings they can expect by making this switch. Your business will save money by eliminating long-distance charges on long-distance calls made internally and externally. Also, if you’re currently paying a monthly fee for service maintenance, there’s no need anymore since VoIP doesn’t require such payments to operate efficiently.
Speaking of numbers, VoIP can help save 90% on international calls, 75% on operational calls, 40% on local calls, and 30% on phone bills. As you can see, enterprises can benefit the most from VoIP, as they usually operate globally and needs to make multiple international calls. While VoIP is cost-effective, your service provider ultimately depends on how much you save.
Some enterprise VoIP service providers charge less, while others ask for a higher amount for their services. If the service quality is high, then high prices are justified. Hence, you need to do ample research and go through enterprise VoIP reviews to determine whether the asked price is justified. If you think that the service provider’s reviews align with their pricing, you can go ahead and make the switch from traditional calling to VoIP.
Offers Global Connection in This Digital World
In the digital world, it’s no longer enough to be able to communicate with customers and employees. To succeed, you need to have a global connection that allows you to reach anyone anytime.
With enterprise VoIP, customers can instantly connect with your company via live chat or social media. Your sales team will be able to talk face-to-face with potential buyers across the globe.
When the pandemic halted global trade for around a year, it was unclear how globalization would continue. But according to Harvard Business Review, international trades are going nowhere in the post-pandemic world. It’s just that the landscape is shifting.
In fact, more and more businesses are now going global as it has become straightforward, thanks to digitalization. Global spending on digital transformation will reach $2.4 trillion by 2024, up from $1.3 trillion in 2020. This means that if your enterprise needs to make a long-lasting relationship with global customers, vendors, and partners, it must regularly communicate with them. Using VoIP can make this simple.
Allows Real-Time Analytics
Data has become an integral part of any business. According to Statista, data is expected to grow over 180 zettabytes by 2025. Analytics can allow businesses to use this data to provide insights into the performance of your business and help you make better decisions. Analytics also enables companies to improve their performance by providing valuable information about what needs to be done for the company to grow or reach its goals.
For example, regarding customer service and support teams, analytics can help determine which customers are unhappy with their products or services. If a customer is dissatisfied with his/her purchase, these issues must be addressed quickly, so they don’t become a more significant problem later.
As such, real-time analytics can provide key insights into how customers feel about your offerings, so you know where improvement is needed before things go too far out of control. Your customer service executives can use this information to communicate with consumers.
With VoIP, the work you need to do is easier to get done.
Let’s consider a few examples:
- You can reduce the time it takes for your employees to complete tasks. This means less stress on your team and less time wasted in meetings as they figure out what needs to be done and who should do it next.
- You can also reduce travel time with VoIP by using video conferencing tools that allow everyone involved in an important project or meeting to meet face-to-face without leaving their desks or offices—no stressful travel required!
- Finally, handoffs between departments are streamlined by eliminating email attachments, which can sometimes take days before they reach their intended recipient (if they ever do).
- Collaboration is another benefit of enterprise VoIP—your teams can share files and folders easily across multiple locations worldwide without having issues such as latency or bandwidth restrictions slowing them down.
- Business owners can become more productive by allowing their employees access from anywhere at any time without having problems such as slowing them down; this also helps increase productivity levels because everyone’s working together in real-time rather than one person doing everything alone!
Allows Easy Integration
It is easy to integrate enterprise VoIP with existing systems. This means that you can implement the technology in a way that doesn’t disrupt your workflow. You can also integrate it with new systems, cloud-based applications, and mobile devices. Integration with customer service apps and portals will provide better customer service, while integration with CRM will help you manage your customers more effectively.
VoIP is the future of business. Its advantages are too many to be ignored, and enterprises that use this technology will enjoy a competitive edge over their peers. In fact, VoIP can also help you to save money on your phone bill by reducing costs and improving productivity. It’s time for your company to take advantage of these benefits!