Why ALL Business Owners and Managers Need to Consider Video Conferencing
Frostline, Inc. | Video Conferencing | Video Conferencing Chicago
As a business owner, manager or decision maker, you will understand the concept of ROI or Return On
Investment. It's interesting to see how often we use this term or phrase without actually applying its
actual meaning. In fact, this term is often misused since we're speaking about things that are not
investments at all, but are instead costs. Costs are inherent to doing business. We cannot eliminate cost completely, but we can reduce it via analysis of our businesses and by making wise decisions on
investments. The best investments will actually pay for themselves over time and permanently reduce
the cost of doing business.
You might be asking “What does this have to do with Video Conferencing?”
Investments come in many forms. In business, one of our most critical investments is into the people
who we employ. We invest in people by paying them a salary, perks and benefits with the hope that
their unique combination of knowledge, skills and talents bring positive outcomes and contribute to the
overall success in reaching our business goals. As we break things down further, we of course see that
things are not that simple; some employees provide a return while others are more accurately seen as
costs. This is the tip of the iceberg when it comes to the complexity of investments vs. costs in terms of
doing business. It is this complexity that can cloud our judgment when it comes to making decisions on
when to spend money, and when to hold back.
You might be thinking “I still don’t know how this relates to Video Conferencing”
If we allow ourselves to generalize and accept that any new spending is bad, then we are not doing one
of our most fundamental jobs as business managers. In 'Business 101" speak, we are all familiar with the saying "you need to spend money to make money". I would add to that by saying "You need to spend
money to save money". In today's world, I would argue that some of our most valuable and impactful
tools have to do with technology. Some solutions are more apparent than others and some have only
recently become more obvious as the business world evolves in tandem with technology.
“Will you please get to the part about Video Conferencing???”
Ok – thanks for your patience…
Video Conferencing is one technology that has quickly developed into a "game changer" that business
managers should not ignore for much longer.
In the not so distant past, Video Conferencing systems were perceived as expensive "luxury" tools
reserved only for high-level executives, CEO's and multi-billion dollar organizations. Video Conferencing technology is quickly becoming a "must have" for companies, regardless of the size of an organization. With improved technology and dropping costs, Video Conferencing and distance collaboration are much more accessible to even small business owners.
The best part? With proper implementation, these tools will actually pay for themselves in a short amount of time and will then convert into long-term cost savings for your business.
The most significant cost benefit of a Video Conferencing implementation usually comes from the reduction of travel that these systems enable for companies
There are several ROI tools for video conferencing systems that can be found here at Frostline.