How Can VoIP Increase Your Business ROI?

VoIP ROI: How Can VoIP Increase Your Business ROI?

Increasing your business ROI is the name of the game. Finding as many areas of the business as possible to streamline and squeeze as much profitability out could be the difference between staying in business or failing, so it’s vital to learn how this simple, modern solution can increase your businesses return on investment.  

What is VoIP’s Business Proposition? 

The business proposition of VoIP is simple: Provide low-cost, high-quality voice calls through most internet connections, either from a computer, cellphone, or office phone anywhere in the world. A recent study found that over 90 percent of businesses rely on their phone system as the primary communication method. As a business tool, this could be a difference-maker in bringing everyone enterprise-level connectivity. 

Ways VoIP Improves Business ROI 

The most well-known business ROI with VoIP is an overall reduction in voice costs, but that is a narrow view of the benefits. Important, yes, especially in this economy, but there’s much more to this picture here. With VoIP, you get productivity boosts, your client satisfaction increases, which causes less revenue uncertainty, and data security improves. The ROI of VoIP goes well beyond the obvious cost savings; indirect opportunities for streamlining business are also available. 

Cost Savings 

For many, this is the most important benefit, so let’s get into it. VoIP is an efficient piece of technology, but it gets even better; when a call is silent, about 50 percent of the entire call means no voice is sent, data isn’t used, and money is saved because no info is being transmitted. You get drastically cheaper installation costs, and ongoing costs are cut by up to 50 percent. You also save by transferring less data by cutting out the silence in a call, and the efficiencies are impressive.  

Productivity Increases 

The application of VoIP isn’t the same for everyone, which speaks directly to the flexibility it provides. If you decide to embrace a complete VoIP phone system, you can introduce such features as: 

  • Voicemail-to-Email 
  • Call Transcription 
  • Auto-Attendant 
  • Integration with CRM platforms 
  • Video Conferencing 

You are merging disparate actions across communication channels into a cohesive system that increases productivity. Long gone are the days of keeping notes about a client in one place, answering calls in another, and having to help direct calls to the right areas instead of the interactive voice response (IVR) doing the heavy lifting. 

Reduction in Lost Revenue 

Communication issues pop up while doing business, and normally, they are not on purpose, but they still negatively affect the client experience. These issues can be caused by inefficient technologies that create downtime or connection quality concerns, which wear down the trust of customers who rely on your business for support. This loss of trust will create revenue losses when customers go elsewhere to fulfill their business needs. 

Indirect VoIP Business ROI 

The ROI of VoIP has indirect advantages that will compound the initial cost savings of implementing a connection. With better customer service opportunities, the overall experience of working with your business improves, reducing customer turnover. Pressure on your employees loosens, creating a better environment for the best work to be done. 

Better Customer Service Due to Communication Enhancements 

VoIP lays the groundwork for communications enhancements that everyone loves. Better technology allows clearer calls, faster resolution times, and more personalized help. VoIP systems allow for integration into customer relationship management (CRM) systems, which connect agents to that specific customer account, and they can see why they have contacted them in the past. This enables them to help them more efficiently and provide a 360-degree view without adding a burden on the customer to repeat themselves about any open concerns. According to data from Salesforce, 80 percent of customers consider the experience a company provides to be as important as the products and services they offer. Adding integrated solutions into your business offering makes your VoIP ROI even more evident. 

Staffing Cost Savings 

Reducing your employees’ actions and automating them or removing their responsibility entirely is another form of cost savings. Having an onsite full-time IT staff is costly for most small to medium-sized businesses (SMBs). Still, when you introduce VoIP into the mix, you can release the need for support to the managed service provider offering your service. For example, NTouchTel remotely monitors, diagnoses, and solves many issues that might pop up, saving you downtime, which costs you money when staff isn’t working. You can then focus your IT budget on other business concerns, increasing VoIP ROI. 

Increased Security 

Business security is a top priority. Encrypted voice data ensures that the conversations are not remotely accessed. Network traffic monitoring analyzes activity to ensure that the data being accepted into the system through the firewall is authentic. You are adding a sense of security not currently provided by traditional phone lines. 

VoIP ROI Goes Well Beyond Costs; Get a Better Business Investment with NTouchTel 

The ROI of VoIP will have a positive impact on your business. The idea that changing how you make and receive calls could have this drastic impact may seem far-fetched, but it truly is the basis for an incredible business transformation. The simple fact is VoIP lays the groundwork for the communication upgrades you have been looking for. Contact NTouchTel today to see how we can help you make the most brilliant business investment of the year. 

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