The Business Benefits of Video Conferencing

Video conferencing (VC) is a major part of doing business in the 21st century. It facilitates visual communication with clients and colleagues anywhere and anytime. Moreover, a video call can save energy, and money, and reduce environmental impact in some surprising (but significant) ways. With all the benefits, an increasing number of businesses adopt online meetings as their go-to mode of communication. 

Keep on reading for an in-depth look at how video conferencing benefits your business, or visit the Golden Margins workplace solutions for more ways to optimize the way you work.  

Video conferencing in previous years has been limited by high costs and network latency. However, this is no longer the case as more meetings are taking place virtually rather than in physical locations. Simply put, face-to-face meetings are slowly becoming a thing of the past.  

Initially, video conferencing was used to reduce travel costs. Now, the benefits are more far-reaching as online communication tools are expanding. Working together has never been easier, and greater knowledge of the benefits that come along with it is fueling the growth of remote collaboration. The promise of video conferencing is to: 

• Improve communication 
• Enhance business relationships 
• Optimize meetings  
• Drive employee satisfaction 
• Give competitive edge 

All the benefits revolve around one key point: We move faster towards our goals when we can see and interact with the people we’re working with. 

Growing Demand for Video Conferencing 

Online meetings have become critical to many companies’ collaboration strategies. Video conferencing systems run the gamut from basic desktops housed in huddle rooms to sophisticated telepresence suites. Thanks to the more reliable tech and lower prices, teleconferencing is transitioning to a core enterprise productivity tool. A steady stream of new tech has also hugely improved usability. Along with greater reliability, the total cost of ownership is dropping. 

Benefits of Video Conferencing

Cost/demand trends and ease of use are placing the benefits of video conferencing within reach of more businesses. Employees have always talked to one another but now we’re more aware that collaborative, team-focused work environments can deliver incredible business advantages. Among the many research-demonstrated benefits, video collaboration has proven to: 

• Move a company more effectively towards its goals 
• Foster creativity and learning 
• Blend complementary skills, strengths, and perspectives 
• Build trust; encourage equal participation 
• Develop a strong sense of purpose 
• Enhance employee development 
• Teach conflict resolution skills
• Promote a wider sense of ownership 
• Encourage partnership/joint efforts 
• Deliver problem-solving faster and increase innovation 
• Create an efficient pace of work (the “divide and conquer” principle) 
• Improve job satisfaction and employee retention 

Top Benefits of Video Conferencing

Aside from reducing travel, there are plenty of other far-reaching benefits, such as reducing the amount of time wasted in meetings. Below are some of the main reasons companies are using video conferencing more than ever before: 

Cost Savings 

Travel costs add up quickly. Hold a video call and you eliminate costs for employee transportation, hotels, and meals. Customer entertainment expenses disappear. Reducing travel costs for just one employee far outweighs the expense of a VS system that can be used by the entire company. 

Improved Productivity and Optimized Operations 

Yes, you can be in two places at once. Several, actually. And it’s all thanks to VC. The implications for productivity are huge. Reduced travel requirements help key employees maximize their time. Holding video calls with customers and partners around the world boosts productivity. 

Improved Efficiency 

Visual cues bring a level of efficiency not possible with audio calls. Because of this, participants get a lot more done via video conference. Display mockups. Demo products. Impress potential customers. Proponents admit it’s even more efficient than face-to-face meetings. When everyone’s in the same room, discussions can easily get off track due to side comments and digressions. The structure of a video conference permits less room for small-talk. 

Reaping the Benefits of Video Conferencing

Video conferencing as a communication tool is growing at a record rate. Businesses seek to reap the demonstrated benefits of added collaboration. Those that implement VC quickly experience the many benefits of videoconferencing.