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4 ways to cut costs with video conferencing

cutting costs with video conferencing
Photo by Michael Buckner

Video conferencing has been around in some form since the 1980s, but some would argue that it hasn't been very useful until recently. Services offered by companies such as Blue Jeans have made video conferencing easier and more reliable than ever. There will always be traditionalists who believe that there is no substitute for a face-to-face conversation, but video conferencing is being adopted by companies all over the world.

Aside from having the obvious "wow" factor that all new technology seems to have, there are some very clear advantages to video conferencing, the most important of which are the ways that they can help a business cut costs. Here are just four ways that using a great video conferencing service will help your business save some money.

Cutting Down on Travel Costs

A traditional business meeting requires everyone to be in the same room with each other. This isn't a problem if everyone involved in the meeting works in the same office and can be physically present, but what happens if some of the participants live on the other side of the country? Many corporations have offices all over the country or even all over the world, and getting people from these different offices together for meetings can cost companies thousands or even millions of dollars in airfare and hotel stays.

Saving money that would be spent on travel costs is one way that a video conferencing system can be beneficial to a business. If you need to have an important business meeting with someone on the other side of the country, you can do so at a moment's notice. All you need is a device capable of running the necessary software, and you're ready to go.

Saving on Office Space

With video conferencing, a company can get away with having less office space. Boardrooms can be smaller or even nonexistent, and there is less of a need to buy office supplies. Many companies that rely on video conferencing even have some of their employees work from home at least part of the time. With an estimated one in five people now working from home instead of in an office, the time when large spaces filled with cubicles may be coming an end, and part of that is because employees no longer need to be physically present to speak with managers.

Hiring Fewer Managers

Having smaller offices and more employees work from home means that companies don't need to hire as many managers as they once did. Employees are expected to be more autonomous when they work from home, and aside from regular check-ins through video conferencing software they generally aren't supervised by anyone.

Not having to hire more managers and supervisors is a good way for companies to cut costs, one that is made possible in part by video conferencing. Some could argue that this eliminates some job opportunities, but helping to cut costs will improve a company's bottom line and help it to grow. In a way, it becomes a long-term investment, an investment that could lead to more job opportunities in the future.

Providing Greater Productivity

Finally, video conferencing can make for a productive company overall. You will still need to schedule meetings, but those can be done at any time without the need to coordinate people's schedules. This will allow employees and management to better organize their schedules or even have meetings outside of regular business hours if they so choose. By not having to interrupt a work day with a board meeting, more work will get done, which will in turn improve a company's bottom line.

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