Businesses have always been skeptical about audio video conferencing – whether trust and relationships can be built through this medium or can it eventually truly replace ‘the handshake’. But reports suggest that such systems have become more popular in the recent years.
And as businesses grow, teams expand, we are of the opinion that boardroom audio video conferencing solutions will become a crucial day-to-day engagement platform for many. Here are some of the reasons why we think audio video conferencing is still relevant in 2017:
Technavio analysts expect the global audio video (AV) market to grow at a compounded rate of 12% during 2016-2020.
- Cost effectiveness: Although face-to-face interactions with your shareholders – customers, partners and employees – can never be replaced, one cannot ignore the economic benefit of AV technology. With growing teams and expanding markets businesses save large amounts on travel and accommodation expenses of their employees. And when it is replaced by technology that is high quality, easy to use, incurring virtually no cost for people involved irrespective of location, it makes AV conferencing an attractive alternative. Reports state that 56% of global CFO’s would invest in a video conferencing solution to reduce travel. Additional reports also suggest that cost of travel for one person annually outweighs the expense of an audio video conference system for the company. Hence, the doubt of its irrelevance is addressed almost immediately.
- Increased productivity: The ability to reach out to your geographically dispersed teams, partners or customers from your office desk is undoubtedly cost effective as discussed above but also highly satisfying and productive. Additionally, too much traveling can hamper an employee’s productivity and focus. Alternately, a modern audio visual conferencing solution can cater to a team that is as small as 10 participants with no upper limit, connecting them in real time effortlessly, thereby enhancing employee productivity.
- No time constraint: This method of communication is extremely convenient. By eliminating geographical and time barriers, one can conduct a meeting at any time of the day from anywhere. Therefore using this technology to connect and collaborate with shareholders that are overseas or in remote locations is easy and more effective.
- Faster decision making: An audio visual conferencing solution enables a larger team of members to participate in decision making than if the meetings were in person. This helps businesses to get more insight and perception of the situation and also facilitates quicker decision making.
- Team building: As teams grow beyond boundaries, many collaborate via different mediums such as email, calls or instant messages but seldom face-to-face. This lack of in-meeting interaction between individuals and teams can often cause misunderstandings and result in lost communication. However, with an AV solution in place teams connect with one another, notice ones facial expressions and body language – leading to more effective collaboration. Additionally, a face to a name surely builds a deeper bonding.
There is no denying that in-person meetings can develop lasting relationships. However, what’s even more important to note is that the business landscape is changing and the drivers are millennials who are well-versed and truly prefer communicating via collaborative platforms such as the AV conferencing solution. Look around you and you will see everyone is transfixed on to some screen or the other!