Remote Video Conferencing gives visions of a futuristic sci-fi world where holographic images instantly teleport us across the world. It seems like an alternate reality, but instantaneous visual transport has already established a place in video conferencing systems. While the price tag for holographic equipment is far above the average budget, the widespread use and cost-effectiveness of most video conference equipment gives it a permanent place in the business world. Unfamiliar with video conferencing systems? Here are 5 reasons why you should implement it into your business.
Travel Cost Reductions
This is the most obvious and measurable advantage of video conferencing implementation. The cost for two executives to fly from Los Angeles to Hong Kong runs upward of $3000, according to Expedia.com. If you factor in car rental, the salary of time lost in traveling, and per diem reimbursements, you’re looking at a minimum ballpark figure of $7,500 for a 3-day business trip. If your two employees make that trip once per quarter, you’re looking at $30,000 per year. The investment of a video conferencing system is a fraction of that cost, allowing you to minimize costs while allowing for more frequent client meetings. Don’t get me wrong, I’d love to take a U.K. vacation (would that be a U-Kation?) as much as the next person, but those trips are better reserved for actual vacations where I can spend as much time as I want trying to get the Queen’s Guard to flinch.
Particularly in large corporations with multiple offices, project communication is pivotal. One major issue with e-mail is the lack of physical context, which may hinder message clarity and encourage lackadaisical response times. The ability to utilize a video conferencing setup allows for more concise communication within the company, regardless of distance from one location to the next. Messages are conveyed, decisions are made, and projects are completed with clear instructions and deadlines, therefore increasing productivity and ROI.
Due to better communication and operations, businesses with video conferencing capabilities are able to share knowledge more widely and effectively. In addition to the ability to engage in real time Q&A sessions, meetings can be recorded and distributed throughout the company for maximum informational outreach. Lack of internal communication is a challenge for many companies, and the ability to bridge that gap is hugely beneficial. Information that can support and expand company-wide growth is made easily accessible for future reference. Many sales teams are also now engaging in real-time video conferencing in order to allow for not only face-to-face relationships with their customers, but also to save and utilize for future training material.
Another advantage of video conferencing is the great big hug that it gives to mother nature. I realize that sounds very “after school special,” but Green Technology is a win no matter how you look at it. According to the UN General Assembly Report of World Commission on Environment and Development, a Sustainable Business “meets the needs of the present world without compromising the ability of the future generations to meet their own needs.” Engaging in Environmental Accountability is the only way to sustain our precious resources for future generations. Did you know that the Carbon Footprint of that round trip from Los Angeles to Tokyo is 5.90 metric tons? In addition to ecological reasons for going green, company costs are reduced exponentially for such initiatives as paperless distribution systems and reduced travel. This is why video conferencing is such an effective way to engage with clients, while maintaining an eco-conscious vision for the company.
Unlimited Options with Ease of Use
One of the biggest concerns of video conferencing integration is the fear that it will be overly complicated, expensive and/or impersonal. With advancing technologies in 4K and Ultra HB quality, bringing clients into the conference room is as close to real life as it gets. Multiple displays allow for coordinated presentations, and spreadsheet presentations can be updated and finalized in real time. Accessibility and cloud-based technologies allow for even the busiest CEO to carve out time for a quick yet clear conference call while still on the go. Home offices are made more efficient with the capacity to engage in key conversations with minimized traffic commutes, and therefore maximized productivity time. Video conferencing offers a higher quality of life due to a decrease in travel time and an increase in time available for family and recreation. With the visual capacities of video conferencing, cross-cultural miscommunications are minimized due to the ability to communicate virtually rather than through emails or phone calls. As a final point, video conferencing is as easy as finding the right turnkey company to provide complete solutions at a low cost to you, simplifying the process and leaving you to only ask, “What time can we log in?”