What Are The Financial Benefits Of Business VoIP Systems?

If you’re looking for an easy way to cut operational costs in your business, switching to a VoIP phone system may be the perfect solution.

By switching to VoIP, not only will you have a modern phone system with capabilities you won’t find with your own system, but you could potentially save thousands of dollars each year. Keep reading to learn more about the financial benefits of switching to VoIP.

6 Financial Benefits Of VoIP Business Phone Systems

If you want to cut operational costs each month, consider these six financial benefits you may receive when you make the switch to VoIP.

VoIP Helps Lower Your Monthly Phone Bill

Despite being more advanced than traditional phone systems, VoIP phone systems typically have lower monthly subscription rates. In fact, VoIP has plans for pretty much every budget.

On average, you should expect to pay around $20 to $30 per user for service. However, cheaper plans with basic features may cost as little as $10 per month. More expensive plans with advanced features cost upwards of $40 per month.

There are even free plans available, although these are generally very limited and would be most suitable for freelancers or microbusinesses that don’t rely heavily on their phone systems.

VoIP Provides Built-In Features

If you’re paying extra for calling features, stop what you’re doing and pay attention. With VoIP, many calling features are built in at no additional cost. (However, this varies by provider, so make sure you do your research to get the features you need at the best price.)

Depending on your provider and plan, not only will you get access to standard features like call waiting, caller ID, three-way calling, and call forwarding, you may also get more advanced features like interactive voice response menus, music-on-hold, and reports and analytics — all at no cost.

VoIP Can Reduce Long-Distance & International Calling Rates

If you make and receive calls outside of your local area, it’s easy to rack up extraneous charges for long-distance calling. Most VoIP providers in the United States offer free calling. Some even offer free calling to Puerto Rico, Canada, and/or Mexico.

You can even save on overseas calls. Depending on your provider, calling to some countries may be included in your plan or available as an add-on charged at an affordable flat rate.

VoIP Doesn’t Require Expensive Equipment

Older phone systems require equipment like analog desk phones, KSU units, and PBX units. Costs for this equipment can easily cost thousands of dollars. With VoIP, you don’t even need a desk phone (although those are available).

The great thing about VoIP is that it allows you to send and receive calls from anywhere. Download a mobile app to use your smartphone as your business phone. Desktop apps can transform your computer into a feature-rich phone system.

You may have to invest more if you have an on-premise VoIP system. However, if you opt for hosted VoIP, you need little more than a router, modem, and a device that connects to the internet.

VoIP Reduces Installation & Maintenance Fees

Older phone systems rely on physical infrastructure. Businesses that aren’t already wired for phone systems are typically assessed installation fees.

Fees may also apply if you need to have a technician come to your location to install another line, perform maintenance, or make a repair.

With VoIP, you can connect your phone system easily as long as you have a working internet connection. You can make changes to your plan, update your settings, add lines, and more simply by contacting your provider or logging into your account.

And if something isn’t working properly, you can call or chat with a rep or use your provider’s self-help resources to troubleshoot issues without being charged for an on-site visit.

VoIP Helps Expand Communications With Customers

VoIP isn’t just for making and receiving phone calls (although it does that and does it well). VoIP also allows you to create a unified communications platform that can be used to connect with your customers in other ways.

Social media management, instant messaging, video conferencing, SMS and MMS marketing, and other tools allow you to communicate with customers (and employees) and boost customer engagement and satisfaction. Happy customers lead to repeat sales, recommendations, positive reviews, and more money in your pocket.

How To Start Saving Money With VoIP

Switching to VoIP is so easy you’ll wonder why you didn’t do it sooner. If you decide that your business is ready for a new phone system, you can chat with your customers the same day you sign up.

Simply contact a VoIP service provider (many offer online signups), provide some information, and select your plan. Once you’re signed up, you can log into your account to set up your phones and devices, assign extensions, and configure your system.

If you don’t know where to start, begin your research with our vetted list of the best business phone systems. There are options available to meet the needs of nearly any business. Many of these options offer free trials, so you can get hands-on with the service before signing up.