Voice-over-internet-protocol (VoIP) technology enables you to connect with customers and colleagues over the internet swiftly and easily. This protocol can either replace or supplement regular phone calls, and it’s especially handy for companies with distant employees. If this doesn’t sound like your company, keep in mind that Upwork estimates that 22% of the US workforce will be remote by 2025.
Work from home (WFH) employees can be better coordinated with an agile solution like VoIP. The technology also protects your data, particularly for providers who encrypt data in transit and at rest. We’ve created this list of crucial VoIP figures to assist you to comprehend its growing importance. In this article, we will walk you through VoIP stats small businesses should know in 2022.
1. VoIP Is being adopted by more businesses.
61 per cent of businesses are moving away from landline systems and toward VoIP phone systems. Let’s take a look at how VoIP technology is constantly improving, especially as teams become more remote before we get into some of the benefits of VoIP. While many people consider the industry’s compound annual growth rate (CAGR) to be the most important indicator of technology adoption, it’s also important to consider how small businesses are using VoIP.
The broad feature sets given by carriers like RingCentral, Nextiva, and GoTo Connect are often responsible for VoIP’s rise. Software Advice sampled hundreds of small businesses prior to the epidemic to account for VoIP use. Even during the research period of 2014 to 2015, they found that around 36% of the businesses sampled were employing the technology.
Not only do you get calling with a VoIP-powered business phone system, but you also get call routing, collaboration, and call management services. This makes VoIP a very appealing technology.
2. VoIP Improves Procedures
Businesses say VoIP has increased productivity by 20%. VoIP is a powerful technology that improves client experiences by nature, but it also provides benefits for employees. This is most probably because VoIP services often include valuable features like audio/video conferencing, task management, and team chat.
The underlying VoIP technologies also help employees get more done in less time. You’d be hard-pressed to find a service without call routing, for example. Because of self-service, most customers can seek help using an IVR system without having to speak with an agent. This means employees may spend less time on things like bill payment assistance and more time on issues that require a human touch. These are some of the critical VoIP stats small businesses need to know in 2022.
3. 22% of businesses use the power of an 800 number
Getting a toll-free number for your business is relatively simple with VoIP. While having local numbers for your consumers is often advantageous, providing them with a toll-free alternative adds a certain amount of distinction. This is because a phone number beginning with 800, 833, 844, 855, 866, 877, or 888 makes even small enterprises appear larger.
Customers utilise these numbers to contact your company immediately, regardless of where they are. These numbers are free to call from anywhere, and the fact that they are national lends legitimacy to your business. Finally, toll-free numbers are extremely portable—if you relocate, your number will follow you so that consumers can continue to contact you.
Modern VoIP companies typically offer a wide range of toll-free number alternatives. There are also some providers that offer international toll-free numbers and vanity numbers, which allow you to modify the number to match the name or the goal of your company.
4. 91 per cent of businesses say VoIP makes compliance easier
To prevent liability, be sure you’re following all applicable local, state, and federal rules and regulations. The Health Insurance Portability and Accountability Act, for example, places a high priority on safeguarding and protecting patient information (HIPAA). In truth, there are various types of compliance procedures to consider when it comes to communications security.
Fortunately, many firms discover that migrating to a cloud-based communications system aids them in remaining compliant with these requirements. This is assisted by vendors actually providing specialised compliance tools for organisations.
5. Switching to VoIP reduces telecom costs by 50 per cent (Source: Telzio)
An on-premise PBX system can cost more than $15,000 to set up. Because of the high cost of hardware, on-premise systems are prohibitively expensive. Here’s a breakdown of how much you should budget for initial costs:
- PBX server: $6,500 and up
- Price of phone: $3,000+
- $1,000+ for setup
- $3,500+ for software licencing
Monthly costs such as toll-free and local numbers, internet fax, and long-distance calling are not included in these prices. You might easily spend over $30,000 in the first year just making calls from your office to local and foreign places.
While the majority of the cost is incurred upfront, a small firm might be crippled just by installing a phone system. Much of these costs are covered by a monthly payment plan with VoIP. When you use a cloud service like RingCentral, you never pay for the server that the company manages. Furthermore, if one of its servers goes down, it has backups all across the world that provide geo-redundancy for improved uptimes.
While IP phones are not free, many providers allow you to use their service on numerous, pre-existing devices. In addition, on-premise PBX capabilities like virtual numbers and audio conferencing, which you’d pay for on a regular basis, are usually substantially cheaper or included as part of a VoIP service.
While long-term VoIP subscriber charges can build up, a small business can easily absorb this expenditure. For firms without large communications expenditures, this makes it a considerably more cost-effective solution.
6. On a monthly basis, VoIP saves businesses 40%. (Source: Multicom Inc)
It’s simple to see how a business can save with most providers offering free calling to the United States, Canada, and occasionally Mexico and Puerto Rico. The fact that VoIP business calling accounts for a large portion of a company’s communications costs is commonly overlooked in statistics. The value of a typical landline phone system, which allows agents to make outbound calls without being charged by the minute, frequently costs fees for dialling significantly outside of the area.
7. VoIP can save you up to 90% on startup costs.
Aside from the obvious hardware and software expenditures, VoIP allows new businesses to save money. Even extremely small firms without centralised offices for their employees, for example, might save money by using VoIP services for local, national, and international calling.
Starting a business is costly, but VoIP allows you and your employees to set up a virtual office that generates cash. This lowers the cost of starting a business and makes it easier to get it off the ground.
The writing is on the wall: VoIP has far too many inherent business benefits to be overlooked. Because of its efficiency, low cost, and convenience, modern businesses will only prosper if they adopt the technology.
Still, want to know more about VoIP stats small businesses should know in 2022. Check out some of the best VoIP apps guide to learn more about some of the industry’s front-runners. Most offer free trials so you can see how well they will work for your company.