How Video Conferencing Tech Ideas Slashes Travel Costs

It’s not unusual for company executives to jet around the world as a normal way of doing business. For many business people, it’s has been the key to successful liaisons, collaboration between teams, and company expansion. When Jack Welch was the Chief Executive of General Electric, his extensive travel and face-to-face meeting helped the diverse divisions work in harmony, leading to massive corporate integration and growth. Travel allows key business players to meet new clients, attend conferences, and promote products. Live meetings also help improve collaboration, enhance friendship, get people on the same page, and even stir new ideas on how to grow the business.

Travel Not Always Necessary

While travel may have helped Jack Welch cement GE together, he might have done things differently if he lived in today’s business world. While there is no doubt that travel does help business networking, it can also be immensely time-consuming, exhausting, and a strain on the business budget of most small to medium-sized businesses.

Often, it may be unnecessary, because video conferencing can advance a company’s interests just as effectively, and sometimes even more efficiently. Video-conferencing cuts down on the need to travel and it slashes travel budgets. By deploying innovations in technology, like video or web conferencing, it’s possible to maintain and build business connections around the world without the time, effort, and cost of doing it in person.

How the Technology Works

Numerous providers of video conferencing solutions can now be found to take any business, whether regional, national, or international to the next level. These new VOIP providers offer audio and web-conferencing, software for screen sharing, and a comprehensive suite of communication tools for professional meetings. Using an all-digital network that is built on media servers, it’s possible to use both VOIP (voice over internet protocols) and PSTN (public switched telephone network) to have high quality audio and web conferences at a reasonable price.

Sometimes Web Conferencing Works Better

Surprisingly, advanced technologies are easier to use than most people assume. It’s simply a question of clicking a few buttons. It can also be inexpensive, and can effortlessly integrate with existing business processes. Online meetings between teams can be as engaging as actual onsite meetings. In fact, it can be argued that in some ways, they work better. For instance, with document sharing everyone is literally on the same page and any confusion can be cleared up on the spot. Using streaming media, it’s easy to demonstrate software, explain strategies, compare statistics, or deliver a presentation.

Besides saving time and money, video conferencing can also shrink space. Online meetings can be done in several cities or countries at the same time. For instance, a video conference done from a company’s headquarters can reach all its divisions around the world simultaneously. There is no need to hold separate meetings with each division. Video conferencing allows teams to match names with faces, stay connected, and keep up to date on the latest project news.

Conclusion

Travel still has its place in business. It allows people to meet in person, to see new divisions, plants, or acquisitions for the first time, and to discuss business over meals. But once a connection has been established, the collaborative work can be done more efficiently and at a far lower cost than previously possible. In addition, entire teams can meet each other rather than just the team leaders.  Web conferences can fill in many gaps that previously required in person visits, and the money saved on travel expenses can be used for other parts of the business.