With its noted improvements in the business world, there's no question that VoIP is a technology that continues to be growing in popularity. Its adoption is consistent throughout companies worldwide, and as such many are looking for new and better ways to monitor their resulting savings.
Improving in use worldwide
VoIP has been showing improved business use in the past few years. A recent report from the Federal Communications Commission showed that trend continues. Nearly half of residential customers with wireline voice services are using the system, and more promising, business adoption is expanding even faster.
While only about 15 percent of business voice lines have been noted to use VoIP, it's expanding in contrast to the competition. By the middle of 2013, the report continued that nearly 9 million VoIP lines were seen in the market, with nearly a million of those added in a single calendar quarter.
The U.S. Telecom Association also believed that VoIP's market share is only going to increase further.
"Based on trends, from 2000 to 2015, incumbent local exchange carriers will have lost a projected 70 percent of switched access lines and 79 percent of switched retail residential access lines," the Association reported. This is a direct result of increased competition from offerings like VoIP in the current market.
Better ways to track savings
NoJitter found that one of the biggest problems in the current VoIP market comes from businesses trying to quantify their savings and struggling to do so. While the technology can help businesses cut down on travel budgets, teleconferencing costs, email expenses and other common cost factors, the news source saw more than half of them unable to understand if they achieved these goals.
However, there are easy ways to monitor this financial progress. The news source mentioned simply measuring the use of a specific business tool, monitoring how much that costs and comparing that amount to the projected savings over time of adopting the new process.
In some instances, the savings won't lend themselves well to an apples-to-apples comparison, in which case it's important to monitor different potential developments. The news source recommended looking at projections that monitor the situation over at least a year's time.
Telecom industry piece brought to you by Marlin Equipment Finance, leaders in telecommunications equipment financing. Marlin is a nationwide provider of equipment financing solutions supporting equipment suppliers and manufacturers in the security, food services, healthcare, information technology, office technology and telecommunications sectors.