Video Conferencing ROI: The Benefits of Investing

It is likely that you have heard a lot of hype in recent years about the benefits of video conferencing. However, you may still find yourself wondering whether video conferencing is worth the expense. Will you see a large enough return on investment to justify the costs of setting up and maintaining video conferencing infrastructure? Ultimately, more businesses are finding the answer to this question to be a resounding "yes." Many companies find that leveraging video across multiple departments leads to revenue growth due to the many benefits that video conferencing provides. If you have yet to implement video conferencing at your company, here is a look at just a few of the ways that doing so could benefit your business and provide significant ROI to justify your investment. 

Reduced Travel Costs

One of the greatest returns you will see after implementing video conferencing systems at your company is in reduced travel costs and other costs associated with traditional meetings. Video conferencing provides companies with the ability to meet face-to-face with customers, associates, and business partners around the world without the need for any travel. This can significantly reduce travel costs, as you will be able to conduct most meetings, sales pitches, and presentations remotely. You will likely be surprised by how many traditional meetings and business trips can be substituted for a virtual meeting.  

Increased Productivity

Not only do virtual meetings help save companies on travel costs, but they can also help to boost productivity and increase revenue as well. If your employees frequently spend a large portion of their day traveling from site-to-site to conduct meetings, or they frequently go on overnight business trips, this means that a lot of valuable time is being wasted traveling that could otherwise be redirected toward expanding your business. By reducing, or eliminating, the need to travel, video conferencing can significantly boost productivity, leading to an increase in revenue. Video conferencing can also increase productivity by giving colleagues new tools that can help them to collaborate together easier from wherever they are located. 

Better Work/Life Balance

Investing in video conferencing software can also help provide your employees with a better work/life balance, as less time traveling for work often means more time spent with their families. This can provide your company with a variety of benefits including reduced turnover rates, as employees with balanced lives tend to be happier and are more likely to stick around. Employees who are content are also likely to be more productive, which can be beneficial to your bottom-line. 

Once you have integrated video-conferencing into your company, this will also provide your employees with the ability to easily work from home. Not only can this further improve their work/life balance, but studies have shown that employees are often more productive when they have the option to work remotely. Additionally, should you choose to transition a portion of your workforce to remote work, this could help to significantly reduce your operating costs.   

Business Continuity

Even if you prefer to have your employees work in the office, having a remote collaboration infrastructure in place can help you to be more flexible during emergency situations. For instance, if a severe storm prevents your employees from returning to the office for an extended period of time, having video conferencing infrastructure will allow you to stay in business rather than having to shut down during an already difficult time.

Many businesses find the ROI video conferencing infrastructure provides to be substantial and worth the initial investment.