Video conferencing can connect parties from across the world, but the technology also allows businesses to work faster, smarter, cheaper and more efficiently.
The Financial Express says that, especially in today's economy, video conferencing makes good business sense.
According to Reuters, video conferencing is expected to explode over the next five years, with an estimated 29.6 billion video calls made during 2015. In addition, Reuters notes that by 2030, telecommuting and virtual meetings could reduce carbon emissions by nearly one billion tons annually, according to the World Wildlife Fund.
Video conferencing has been used by many companies to cut down on expensive travel costs for business meetings and conferences by eliminating the need for airfare, hotels and other expenses.
According to a survey by KDS, a leading supplier of integrated travel and expense management systems, 51.2 percent of respondents admitted that some of their business trips, in retrospect, are not worth the time or travel involved.
In 2010, one of the biggest breakthroughs came as a result of the eruption of the Icelandic volcano, which delayed flights for weeks and "reminded grounded business travelers that there's a broadband-based alternative for that transcontinental business meeting," writes Reuters.