How to Measure ROI on Your VoIP System Investment
Every smart business owner understands the importance of periodically reviewing their investments. Measuring the ROI on your VoIP system investment isn’t always straightforward, but it can be done. While each company’s circumstances are unique, there are a few key factors to consider.
When calculating your ROI, it’s the “hard” factors that typically come to mind first. This includes the cost savings you’ll recognize when you eliminate expenses, like separate conference calling systems, and replace them with a VoIP system that includes these services. You’ll also want to look at the money you save by avoiding the large initial equipment purchases that are typically necessary when upgrading a traditional phone system. Finally, consider the savings you’ll recognize by eliminating or significantly decreasing maintenance costs and other expenses.
Hard benefits are a great start, but there are additional factors that go into calculating your total ROI. Your “soft” ROI includes benefits that aren’t easy to measure in specific dollar amounts.
Some of the most obvious “soft” benefits include convenient setup, improved customer service, and increased efficiency. In addition, your business will recognize the following improvements you’ll enjoy when you switch to VoIP.
Increased Mobility and Flexibility
A VoIP system investment will give your team the ability to work from anywhere and stay completely connected. It also gives managers the ability to easily supervise team members, no matter where they’re located.
As your business grows and evolves, your VoIP system will give you the flexibility you need. It’s both easy and inexpensive to add or remove users, expand into new locations, and effectively deal with fluctuating call volumes.
Reduced Personnel Costs
VoIP systems are typically simpler and easier to understand than traditional business phone systems. This equates to less time and money spent on installation and maintenance. Since they’re not bogged down with constant phone system issues, your IT department will be able to focus on other business goals. This allows them to contribute to your bottom line, instead of dragging it down.
To enjoy all the benefits of your new VoIP system, it’s important that every employee knows how to use it correctly. This means you’ll have to make an investment in employee training, which will impact your overall ROI. However, since most VoIP systems are very intuitive, the learning curve is minimal.
Improved Employee Satisfaction
Employee turnover is a huge drain on a company’s profits. Giving your team industry-leading tools, like a top-notch VoIP system, significantly increases employee satisfaction. Not only will VoIP make their jobs easier, but it will also allow for the location-independence that today’s workforce demands. The employee retention you’ll enjoy is a major factor in a VoIP system’s ROI.
Schedule a Demo Today
Want to learn more about how a VoIP system investment can improve your company’s bottom line? Contact us today to schedule a demonstration and get a custom quote. We’ll help you evaluate your company’s ROI so you can feel comfortable before you make a change.