Technavio—one of the world’s premier market research companies reported in 2017 that it expects the Compound Annual Growth Rate (CAGR) of VoIP’s global market to stand at approximately 10% for the period ending 2021. Other global research companies like Statista and Finances Online see a brighter future for the sector which for long suffered under the misconception that the system is ideal only for big businesses. Nowadays, VoIP systems are being used by businesses from various industries and this epiphany by business with regards to VoIP can only be as a result of its benefits. The question now is, what benefits are we talking about?
Well, here are five of the top reasons why businesses small and large are opting for VoIP systems.
- VoIP Phone systems are cost-effective
If your business is one that requires making and reception of calls whether domestically or internationally, you might want to consider a VoIP Phone system as these systems significantly reduce the costs associated with this means of communication. First and foremost, the cost of setting up VoIP Phone systems are significantly lower when compared to those of traditional landline companies. VoIP Phone systems require an internet connection and the device to be used, which technically means that the only additional cost, beyond the monthly service fees, incurred is the cost of purchasing the device (phone) as most businesses today need and already have a high-speed internet connection.
Also, calls between VoIP customers of the same service provider are generally free while the domestic long distance and international rates for VoIP calls are again significantly lower than the rate for landline systems. VoIP Phone systems also allow businesses to cut down on other recurring expenses such as repairs, taxes and maintenance. This makes VoIP a great choice for most businesses, especially start-ups, home-based businesses and SMEs.
- Multi-functionality of VoIP Phone systems
The beauty of the internet is its abundance of options and features. And this multi-functionality aspect applies to everything associated with it—including VoIP Phone systems. VoIP systems go way beyond sending and receiving calls. With the help of the internet, most modern VoIP Phone systems come with features such reception of faxes and voicemails via email, video conferencing, teleconferencing, call waiting, call forwarding and instant messaging, to name only a few. These features allow users to interact and work with employees and colleagues regardless of geographical location.
Many people argue that VoIP Phone calls are unreliable because the absence of an internet connection means an inability to make and receive calls. Theoretically, this is true. But in most developed countries, the internet is available 24/7. Even if the internet stops working, the flexibility of VoIP still means that users can still go on with their activities. The call-forwarding feature of VoIP Phone systems allows users to choose where and how calls are forwarded, which means users can forward calls to a secondary device—mobile phone for example, if the original device is unavailable. Also, most modern VoIP Phone systems feature complex encryption protocols that seek to make your calls and data secure.
- Excellent Call Quality
Gone are the days when call quality via VoIP Phone systems was poor and calls would drop for no reason or voice quality will be so bad that you can barely hear the person at the other end of the line. The evolution of the internet today has made it impossible to tell the difference between VoIP calls and landline calls. VoIP innovations such as advanced audio compression and noise-cancelling microphones allow users with stable and high-speed internet connections to make and receive clear and crisp calls with zero lags, latency issues or call dropouts.
- Accessibility and Portability
VoIP systems also thrive today because of their accessibility feature. Most businesses today are multi-national corporations with executives and employees from different continents pooling their skills and know-how together to accomplish organizational objectives. As such, they need to be able to make calls from anywhere. And with a decent connection, VoIP Phone systems make this possible. Call forwarding makes it possible for employees to direct calls to a colleague if they are temporarily unavailable making sure business operations keep moving smoothly. VoIP systems also allow users to use the office number anywhere they are. Such portability also means that your business can retain your number even if you change your address.
These are just 5 of the top benefits of VoIP Phone Systems. There are a host of others but these just reinforce the fact that VoIP technology is the next best thing in the telecommunications industry and regardless of the industry or size of your business, opting for a VoIP system is opting for a system that will not only help you grow but can also grow with you.