Till recently, VoIP vendors have highlighted low-priced global calling rates and low service charges to sell the VoIP service to cost-conscious customers. However, business finance managers do not make decisions based just on per minute price savings. VoIP service vendors have their job cut out – persuading corporate leaders on the speedy payback potential of implementing VoIP systems.
Earlier break even for technology expenditure
Trends indicate that businesses are looking at new tools and technologies that break even in less than six months – a sharp contrast to existing industry expectations of a year and a half. Though VoIP has made great strides in the last few years, this requirement puts a lot of pressure on its service providers. They now must substantiate their claims with fiscal break even data to close deals as financial plans are restricted to projects that show significant returns preferably within the same financial year.
Phased completion of projects
Tight clamps on technology costs have made CIOs, CFOs, and IT managers rework their project roadmaps. Technology requirements are now met in a phased fashion. Formerly, moving to a VoIP system was a huge task involving changes in network, servers and desk equipment. The position today is much different. Interoperable equipment makes it possible for executives to implement modules of a long-term project according to when funds are available and business operations are not disrupted.
Evaluating results of VoIP systems
To measure the rewards of installing or upgrading a VoIP system, CTOs have to consider both quantifiable and unquantifiable results. Voice clarity and other useful features are intangible results that positively impact worker output. Apart from this, CTOs need factual results that have to be measured differently over a cyclic period. Some strategies used by CIOs to quantify the performance and cost savings from a VoIP system include:
* Evaluating the effect of the time spent in reconnecting dropped calls on a worker’s efficiency in terms of lost hours.
* Surveying customers and evaluating the impact of a clearer phone connection on deals lost or gained.
* Comparing the expenditure of running a tele-presence suite using VoIP services with an executive’s travel expenditure.
* Distributing the total cost of a new VoIP system over the operations and maintenance budget of an existing project over a period of 6 months.
A factual picture of the financial returns cannot emerge without accounting for the actual cost of ownership. If a VoIP system manages a break even period of 6 months, business managers can look forward to removing a line item from the budget. Few CEOs would argue with such a lucrative option.
VoIP system service providers – Substantiating claims
VoIP service vendors have to produce some sound financial data to back up their claims. They have to use case studies and statistics to prove the real cost of ownership over the life of a VoIP system. For example, a system that breaks even in 6 months and does away with expensive maintenance for the next three years is a sure winner with CIOs. The budget allocated to the corporation’s business VoIP system can be amortized over 36 months.
As VoIP systems move into offices and homes, service vendors must deal with bigger expectations from customers. Enterprise VoIP system providers must prepare themselves with necessary financial data to convince prospective buyers of the feasibility of seeing returns in 6 months. This is the only way VoIP providers can close more deals.
Daljeet Sidhu. Read Small Business VoIP advice. Compare VoIP Service quotes.
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