Traditional telecom carriers are increasingly losing ground to VoIP as the preferred option for business phone systems. And the reasons are very clear-they are cheaper and flexible.

The Voice Over Internet Protocol (VoIP) has been around for a while. Experts estimate that by 2024, the market will be worth $93.2 billion. The VoIP technology is widely embraced, from Burger King to the White House.

Further advancements in related technologies such as AI, 5G, Unified Communications, and other technologies are expected to spur new growth in the VoIP industry. The goal is to lower costs and drive exceptional service.

VoIP is a newer technology still in its early stages of development. Nonetheless, it has been progressing against the analog system for some years.

Its growth is due to its incredible benefits over traditional phone systems. Implementing this advanced communication technology has the potential to help nearly every business.

What Is VoIP?

VoIP (Voice over Internet Protocol) is a technology that allows you to make voice calls via the internet rather than over a traditional phone line.

Users can make audio calls using VoIP via their PCs, smartphones, select VoIP phones, other mobile devices, and WebRTC-enabled browsers.

Additionally, while some VoIP services require you to use a computer or a specific VoIP phone, others enable you to use a standard phone using a VoIP adaptor.

Furthermore, wireless hotspots in places like cafes, airports, and parks allow you to access the internet and maybe use VoIP services wirelessly.

How VoIP Works

VoIP services convert your voice into a digital signal that can be transmitted over the internet. If you dial a standard phone number, the signal is transformed into a regular phone signal before reaching its destination.

It benefits individuals and businesses because it often contains additional capabilities not found on standard phone services. Custom caller ID, call recording, and voicemail to email are a few examples of these services.

Here are some of the benefits of VoIP you need to be aware of:

Benefits of VoIP You Should Be Aware of

1. Lower Costs

The cost-effectiveness of VoIP over other phone networks is one of its main advantages. Your firm can benefit from better services at affordable rates, from initial setup charges to indirect and ongoing expenses.

Traditional phone lines charge by the minute, but your sole expenditures are your ISP’s monthly fees with VoIP. All features are included in the chosen pricing plan. Most providers like Talk360, for example, offer low costs or even free international calling.

In fact, Talk360 is one of the VoIP-powered international calling apps that allow you to call even landlines and regular phones. So, you can enjoy affordable premium-quality calls to Cuba, Jamaica, and the rest of the Caribbean.

At affordable rates, you can also call East Europe, South America, the Middle East, and Africa. Why pay for expensive roaming charges and VoIP is available? And if you are wondering why is my phone roaming at home, there’s an easy solution for that.

2. Greater Flexibility

Employees used to be confined in the office to use their corporate phone numbers. You’d have to use cellular minutes to communicate if you had to leave the office.

VoIP allows employees to no longer be in the office to make or receive business calls. With an internet-enabled gadget, they can stay connected wherever they are.

Organizations can recruit workers outside their state, city, or nation using VoIP communication technologies.

VoIP flexibility allows your company’s employees to work remotely at no extra expense. Unlike traditional landlines, you’ll need to buy, install, and configure the new phone system gear, which could take days or weeks.

3. Easy to Install

One of the most appealing aspects of VoIP is how simple it is to set up IP phones, even for non-techies. This varies from traditional phone systems, including hiring a local phone provider to set up and install a real private branch exchange (PBX) system on your premises.

It is unnecessary to hire a team of professionals to run phone lines across your office. IP phones, on the other hand, are practically plug-and-play. You simply need to download an app or engage with your VoIP software company to switch over your existing number.

There is no need to install hardware, which might be difficult to handle because the phone company must be physically present.

4. Easily Scalable

Another significant benefit of employing a VoIP phone number is that it adapts to your company’s changing needs.

While you can exchange your phone number with as many people as you like, you can also have as many numbers as you want. You can upgrade to a plan that better suits your needs by paying a small fee.

Lead routing, conference calls, call recorders, auto-cold calls, and other advanced call features are all available with VoIP systems. As your company grows, these features will allow you to tap into more opportunities.

Furthermore, anytime your business requires it, you may swap preferences to scale up or down on any advanced function.

5. VoIP Has Extra Features and Services

Many businesses are unaware of all of the advantages and services VoIP provides. VoIP systems make it possible to connect a wide range of devices to keep your organization productive.

Virtual numbers, caller ID, voicemail, contact lists, and other features are common with VoIP systems. You can combine these features in more sophisticated ways to improve operational efficiency.

With a single click, voicemails, and messages, for example, can be shared with many coworkers. Voicemail transcriptions can be sent immediately to your mailbox and viewed when you’re out and about.

Many services are provided in various provider packages. Custom VoIP services can be built to meet your company’s specific needs, thanks to the service’s flexibility.

Drawbacks of VoIP

1. It Depends on the Internet

If you don’t have internet access, you won’t be able to use a VoIP phone number, even if it has all the communication options and advanced call features.

The strength of your internet connection also influences the quality of your calls. A faulty connection can cause your calls to stutter and be delayed.

Jitters and latency are other typical internet-based issues that might hinder your VoIP. This could be due to a weak internet connection or infrastructure. Poor internet connections in VoIP systems might result in lower customer satisfaction or a breakdown in corporate communication.

2. Prone to Cyber Attacks

Internet communication requires a high level of security. Hackers may listen to, alter, or forward your calls for ulterior motives, which should be treated seriously.

Only a few providers have yet to deploy tighter security measures to prevent their private VoIP calls from being hacked while in transit.

Luckily, most VoIP providers employ high-level end-to-end encryption measures to keep your data safe from hackers at all times. Before you commit, make sure you do your research and identify the top VoIP service providers.

Take Away

Considering the benefits and drawbacks listed above, it’s reasonable to say that VoIP is well worth the money!

While VoIP isn’t perfect, the benefits greatly outweigh the disadvantages, and it has the potential to propel your company forward.

More freedom, more features, and services, all at a reasonable price, can help your company succeed. This is certainly relevant if your company’s lead-generating activities are primarily based on phone calls.