Over the past 3 decades, video conferencing has become one of the leading ways that businesses communicate over distance, not just in meeting rooms and conferencing spaces but via mobiles, tablets and desktops, enabling face-to-face communications a reality for those working from anywhere.
Home workers, workers on the road, contractors, members of the supply chain, executives and everyone in between use Video Conferencing solutions as a way to build and strengthen relationships, reduce costs associated with travel and increase productivity, and these benefits, amongst many others has enabled high definition video to transform the today’s global business world.
Here are 5 of the most common benefits recognised by organisations utilising Video Conferencing to bridge distance.
Reduce Travel Expenses
As more and more businesses expand around the world, the need to be able to communicate at any time of the day with international colleagues and businesses is growing. Video conferencing serves as a great supplement when travel is a challenge or too costly.
Travel reduction is a simple expense to calculate and has been regularly used as a way to determine return on investment of Video Conferencing and Collaboration spend. Simply by calculating the number of trips taken annually, multiplied by the travel cost (to and from the airport, airfare, expenses, salary of lost time when travelling etc) vs. the Video Conferencing spend (equipment, service, training), most international businesses recognise the Return on Investment in less than 6 months, often closer to 3, and sometimes within the first month alone.
For example, one large pharmaceutical company recently justified their investment by realising that they were sending engineers away for 2 days to hold a 15 minute meeting to fix a single problem. By installing Video Conferencing for these meetings, the problem was being resolved within 30 minutes and the 2 days work lost for travelling was eliminated. This particular pharmaceutical company paid back their spend within 67 days.
Increased Productivity and Efficiency
Video conferencing allows people and teams to interact in real time as if they were within the same room. Rather than staring at a phone in the middle of a table or reading through emails, Video Conferencing enables people to see facial reactions, smiles and cues, resulting in more lifelike interactions and therefore better decision making and increased speed to market.
“With video conferencing, I now have the ability to regularly interface with my global teams, even though I cannot always be there in person. Video conferencing has allowed me to be more productive and efficient. I am now communicating with my teams more often.”
With 93% of communication non verbal, the implications of Video Communications on business is clear; we know how much of sales, marketing, service, support and management relies on quality communication. By implementing Video Conferencing within a business space, participants can process and collaborate across distance and not miss gestures or inflections that may happen within an audio only environment. Individuals stay more focused, projects are completed quicker and productivity is increased.
Improved Work/Life Balance
High morale across your team is vital to productivity, and as work demands increase, keeping morale high becomes more of a challenge. And with business travel, time away from the family and stress of commuting, along with the health implications of sitting driving for countless hours a week, keeping employees happy with their work/life balance can be a ever moving goalpost.
By implementing Video Conferencing solutions across a business and providing technologies that enable work to be done from home or at the most local office location to the individual, you can better improve the situation for employees, enabling them to join meetings without the same stress.
“Using video I can now accomplish work that would have taken me weeks to accomplish, and I don’t have to cram my long legs into an airline seat on a 10 hour plane ride. I am much more productive with video conferencing and my family appreciates it.”
Video conferencing is a technology being embraced across the world by organisations of all sizes in every industry, and many individuals now see these tools as vital to their workflow. Video contributes to higher productivity, increase morale and better communications between individuals, teams, customers and the supply chain.
Video Conferencing saves money and time, but also have many softer benefits too. Businesses are realising that by utilising Video Collaboration tools, they can beat competitors to market by accelerating decision making and product discussions, improve employees wellbeing and happiness resulting in higher individual productivity and lower employment costs, and greatly improve all aspects of relationship building in comparison to ageing audio only technologies.
To discuss what benefits your organisation could realise from implementing Video Conferencing or to help implement a solution that works for your dispersed workforce, get in touch with UK Gold partner, VideoCentric, today.