4 Interesting Facts about Video Conferencing

There’s been a lot of talk about video conferencing. For many companies, it’s moving beyond talk right into application. Plenty of industries are already taking advantage of the benefits video conferencing solutions bring to the table. Here are some interesting facts about video conferencing that might prove helpful to you while you decide on how to upgrade your communication infrastructure:

No More Need to Travel

Powwownow says 56 percent of CFOs over the planet choose to do their meetings via video conferencing. It’s a great deal more convenient than traveling to wherever the meeting is set. Travel takes a lot out of your time and commuting presents unique challenges to employees. From driving to work through traffic or catching the train, and elbowing people aside for a chance to sit for a 2-hour trip commute, this can have a negative effect on how employees start their day.

For some employees, though, travel can be a constant and time-consuming part of their daily work schedule. Take lawyers, for instance. Some clients might request for legal assistance and ask the lawyers to come to their homes for a long and lengthy discussion. If it’s a long drive, lawyers stand to lose a lot in terms of gaining enough billable hours if they have to drive to where all their clients are.

In either case, travel is a notorious productivity-killer. With video conferencing though, lawyers can consult with as many clients as they can whether they’re at the office or on the road. With less time dedicated to travel, they can also devote more hours to consulting sessions with their clients.

A Lot of Cost Savings

Boston Consulting Group says companies who used video conferencing to cut down on their travel enjoyed a 30 percent drop in their travel costs. That’s a lot of savings for a company’s bottom line. And the good news doesn’t stop there. With less travel came other cost-savings as well. On-site training sessions that used to last for an entire month were now carried out in a week or two, with the rest of the training being implemented over video. That means less accommodation and food expenses. Annual seminars that used to take a week can now be done in a day, supplemented by a wealth of webinars and online conferences. Companies could now pay less for venue charges and enjoy greater profit. What’s more, businesses no longer had to rely on complicated hardware to set up their communication platforms. By relying on cloud-based solutions, companies can save a lot on hardware costs. Well-known industry players like Blue Jeans offer video conferencing equipment that cover room to remote capabilities. This means online conferences can be carried out, whether you’re in conference room equipped with a ton of equipment, at home with your laptop or halfway across the world with your tablet or mobile phone. That’s a whole lot of savings when you add them all up.

Greater Adoption of the Technology

71 percent of global companies are putting their money in the technology in a bid to slash travel expenses, IMMCA reports. As the number of users grow and the frequency with which they use the technology is a good reason to start migrating to cloud-based tools and solutions. That’s because shifting to the technology such as investing in audio visual solutions ensures compatibility. Compatible systems mean less to zero problems between you and your partner companies, users or customers. Another is to take advantage of the tech-dependent perks. As users multiply, more companies come out of the woodwork to play. Just take a look at the many online apps out there today. As technology evolves, you can expect to see more improvements and enhancements to come, which is good news for all. The better the technology, the more efficient it’ll be for everyone. And the more efficient it is, the greater competitive advantage it gives against your competitors.

A Bigger Market and Talent Pool

Video conferencing collapses boundaries, in more ways than one. It doesn’t just let provide you with opportunities for face to face interviews with potential talents or consultations with clients, it also lets you reach out to those talents or clients—regardless of wherever they are in the world. No need to board a plane and head over to Japan for a business consult. No need to fly out candidates for an interview, until not until you’ve whittled down the applicant list to two to three promising talents. And even then, video conferencing can provide you with the means to conduct the final interview right from your office, sans travel. So if you’ve been having problems finding the right people on your team, maybe expanding your search to global talents will get the job done. And if local prospects aren’t looking up, putting out feelers in the global market can net you the kind of customers your business needs.