Online meetings reduce business expenses

Wednesday, July 11 2012

There is no good substitute for a face-to-face conversation. That's why companies shouldn't skimp when it comes to investing in video conferencing tools, even if the initial expense may seem high. While most software and hardware necessary for these kinds of online meetings are reasonably priced, the best part about them is the return on investment that companies enjoy in the long-term after their adoption.

Saving money

When purchasing new technology, there's always an initial cost. Projecting the effect of that expense on future business activities, though, is where companies can see the real value of web conferencing tools.

One such establishment that profited from buying into this technology was the State College of Florida. According to Campus Technology, the school was ordered by its board of trustees to cut $2 million from its programs. At the same time, however, the college was trying to accommodate more students and enhance its curriculum.

To do that, SCF went online with internet-hosted courses and web meetings to keep the quality of it curriculum up to par. It also was able to make the necessary budget changes on time. Not only has it helped the school stay in operation, it's boosted enrollment by offering tuition-free programs to online students, providing the same level of excellence and drawing more revenue for the college at the same time.

Seeing green

One of the biggest initiatives right now, for individuals and businesses alike is finding ways to help save the planet. Using video conferencing does just that, cutting down on carbon emissions from extensive travel and reducing the amount of energy needed to power more work facilities. As people don't necessarily need to congregate en masse anymore to communicate effectively, companies won't have to spend money on purchasing and maintaining large meeting spaces that pose a significant drain on utilities and subsequently the environment.

These savings is also expressed to employees in the form of more money in their wallets. As there's not always a need to commute to the workplace, remote access has become more popular with some, allowing them work without the hassle of rush hour traffic. They also don't have to spend as much on eating out, buying work clothes or gasoline. This combination of savings and the comfort of working from home can be considered a benefit by companies looking to add something new to their retention strategies and incentives.