In this technologically advanced era, video conferencing and collaboration platforms are becoming increasingly popular. With more people working from home, a shift in perception, and reduced prices, even small businesses are adopting video conferencing. Thanks to these advancements, companies can extend their reach a lot easier, as a result of which business has become much more global. Here’s why every business should consider using video conferencing.
Reduced business expenditure
Conducting business by email or phone doesn’t work as well as communicating face-to-face. In the past, meeting in person was the only way to achieve such collaboration, hence the need to travel. Unfortunately, the cost of travel is becoming increasingly prohibitive.
Thanks to video conferencing, you can communicate visually without having to travel. Apart from maintaining quality relationships with your clients, you can interact with colleagues on a regular basis with a video link. You can, therefore, use less than what you had budgeted for by traveling only for the most important face-to-face meetings. Although video conferencing involves an initial upfront cost, the return on investment is usually quick.
Aside from cost-savings, video conferencing also helps to reduce a company’s carbon footprint. According to a recent study, one hour of driving uses the same electrical energy as video conferencing for 1,000 hours. This finding means that apart from reducing your business expenditure, taking meetings online is also good for the environment.
Since video conferencing frees you from the restrictions that come with travel, you can hold your business meetings more often. Your sessions will cost a significantly reduced amount of money and take much less time to organize and conduct. As a result, you can meet with people from all over the world multiple times a day if necessary. This improved time-efficiency allows businesses to move as fast as the world, which translates to staying updated and relevant.
Now that you are free of travel and geographic restrictions, you can have very short notice meetings, which might help you to complete business deals a lot faster. Aside from a quick scheduling, video conferencing allows you to hold meetings either immediately or within a short while.
Improved employee morale
When it comes to the world’s workforce, millennials are currently the largest demographic, and most of them prefer to work from a location of their choosing and on their own time. Because of this new trend, employers must make some adjustments. To accommodate this shift in employee behavior, employers may have to integrate communication technologies that support remote function. Access to video conferencing is, therefore, a significant factor in improved employee morale, productivity, and business growth, more so because most millennials share the tendency to collaborate.
In addition to providing access to up-to-date information, video conferencing brings teams from around the world together irrespective of data, content, or devices. As a result, remote workers can collaborate and work as a team without constraints, allowing for a faster, better, and more informed decision-making process. This level of teamwork usually leads to reduced project timelines and increased productivity, which will, in turn, minimize the time required to bring something new to market.
Additionally, video conferencing supports employee training and education. With a video link, you can train remote and local employees together and save a training session for future use. Trainees can watch the recorded lessons as many times as necessary without the need for an instructor.
Ensures business growth
Research shows that approximately 80 percent of Americans prefer to telecommute. By retaining valuable employees who need to work from home as well as those who relocate, businesses can save on recruitment, retraining and office space. Fortunately, video conferencing offers this solution, which is an added advantage for companies that rely on employees who have institutional knowledge and long-time customer relationships.