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8 Key Business Benefits of Video Conferencing

May 14 2015

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Face-to-face meetings are an essential part of doing business, even in today’s technologically advanced world. There is research that indicates 85% of people believe that face-to-face meetings are more likely to result in breakthrough thinking and 82% believe that these meetings bring out the best in people. Business travel can be time consuming and expensive and often times these budgets are cut or reduced by many companies who later feel it on their bottom line. Cheaper and faster broadband have made video conferencing a reality and contributed to the success of many organizations.

Here are the major reasons of why you should install video conferencing at your business:

Travel Savings

Face-to-face meetings are an essential part of leadership and establishing new business. Video conferencing offers the same real-time interaction as a visit, minus the travel budget. When considering an investment in video conferencing, the cost, installation and training is a fraction of annual travel and expense budgets for even small and medium sized businesses. The ROI is extremely fast and with real dollars.

Save Time

Sure executives can work on planes, airports and even their cars, but they are the most efficient in their office. Road travel can be replaced or significantly reduced. Regional managers can communicate with their territories more effective. CEOs and corporate executives whose time is extremely valuable suddenly have more hours in the day.

Improved Effectiveness and Decision-making

Meetings that were previously not held, or teleconferenced, can now be visually presented and recorded. Meetings can be held more frequently and will be more effective, as participants can pick up the visual communication cues necessary for effective communication. PowerPoint presentations and online content can all be integrated into the meeting and shared with all participants, making meetings more effective, decision making quicker and bringing about a competitive advantage.

Misunderstandings via phone calls, emails and instant messages can lead to delays, errors and lost business. Video conferencing reduces misunderstandings due to its face-to-face nature, where body language and subtle forms of communications can be seen and interpreted.

More Efficient Recruitment

Video conferencing allows for more accurate assessment of candidates through face-to-face interviews and also from recordings which can be viewed by stakeholders unable to be present. And because geography is not an issue, the pool of potential candidates is considerably larger.

Cost, Effectiveness and Simplicity

Some corporate videoconferencing systems are so expensive and complex, they are reserved for larger conference rooms and special occasions. The result – staff who really need VC rarely have access to it. LifeSize’s Video Conference units are affordable, allowing you to install them in more locations making the benefits of VC more widely available. These units work extremely well and do not require a lot of bandwidth.

Improved Morale and Employee Satisfaction

By bringing people together in visual meetings on a regular basis, you can drive a unified culture and improve team collaboration. Internal relationships will improve as your teams get to know each other. Remote workers will feel more connected and appreciated and productivity will increase across the board.

Improved Environmental and Branding

As an organization’s social responsibility impacts their customer appeal, every business needs to show its green awareness these days. Video conferencing reduces your carbon footprint by limiting the need to travel. This can be used as an example of your green efforts and will improve your brand.

Prepare for the Future

By embracing VC now, your organization will prepare itself for the competitive landscape of tomorrow. As bandwidth gets faster and cheaper, more companies are installing videoconferencing than ever before. You want your team to have all the tools necessary to compete and be successful. Video conferencing will very soon be a critical tool for businesses.

Jamie Friedman

Written by Jamie Friedman

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