The advent of Voice over Internet Protocol (VoIP) has fundamentally changed the way organisations carry out phone conversations, with many companies now realising that the technology helps to improve their business operations.
With VoIP, companies can make more cost-effective calls than when using land-line services. The technology has also been proven to be more reliable and faster than traditional phones. VoIP empowers companies to move forward with the times and adapt to the new developments in technology, thus helping them better navigate today’s business landscape.
According to Visiongain’s latest report into the global VoIP market, the technology will end 2013 with solid growth results, aided by the increasing adoption of integrated social media-based VoIP solutions that helped to mark another stellar year. This is a result of companies recognising the efficiencies that could be generated by managing a single voice and data network. Another factor that underpins growth in the market is the arrival of long-term evolution (LTE) and 4G networks, which are expected to dramatically improve the quality of VoIP service and make the technology a mainstream mobile telecommunication service.
The business information provider predicts that this year, the global VoIP market will record $75.8 billion in revenues. VoIP is expected to make huge inroads into the mobile segment, given businesses’ continuing reliance on IP links to make calls.
VoIP technology is also the more preferred option over traditional PSTN telephony services, given the long-term cost savings it provides to enterprises. This is due to the fact that the technology comes along with cheaper call rates than those offered by standard telephone operators.
The benefits of VoIP have been recognised by the world of IT, where it has now become one of the ‘buzzwords’ and has “taken on a decidedly different hue” in the last decade, Johann Barnard says in an article for IT web.
As businesses now focus extremely on saving costs and are turning to any service that promises low costs, the growing interest in VoIP is not surprising given its solid cost-effectiveness profile. This is especially true for companies that need to make overseas calls on a regular basis and know how expensive this service is when traditional telephony systems are used.
Barnard cited findings from a September report from Gartner, which revealed that VoIP adoption has been running at such a fast pace that it could be already considered mainstream. This is especially the case with larger companies, but smaller enterprises are also tapping the technology in recognition of the management benefits as well as improved remote working opportunities.