How VoIP is Changing the Industries

Voice over IP is a technology converts the voice of a user into a digital signal. This allows making direct calls from the computer or any other device. It is usually also referred to as an IP telephony, internet telephony, broadband telephony, or just broadband phone service.

Telecommunications has morphed into a totally different being from what it used to be before the Voice over IP technology. As the technology advances it is slowly pushing out the good old “plain old telephone services” or POTS. It is becoming more and more valued by the companies requiring communication, which means basically every company ever in the 21st century. However, what do these changes mean for businesses and how do they utilize this new technology to their advantage?

VoIP is Murdering Telecom Monopolies in Cold Blood

The big telecommunication companies have been a go-to service for a lot of people during the past century. However, the low cost and much better technology of Voice over IP is just taking over huge chunks of the market thereby pushing telecom companies out of business. It’s a slow and painful process, which cannot be stopped as VoIP software offers a lot of advantages and new features in comparison to the normal telephones. Also, switching phone system providers like Call Flow Solution can be an advantage for companies of all sizes, especially if your enterprise relies on apps or uses the cloud to store data.

Traditional phone lines work like the old internet. They are turning the digital signal into electricity thus transferring the data through electricity cables. VoIP does the same with the exception that it transforms the signal into an internet protocol, or simply IP, data packets that are sent over the internet. This creates much less latency and much higher quality audio as well as letting us utilize technology on our internet-connected devices, which almost every human in the developed world already has either in their pocket, smartphones, or computers like tablets, laptops or big personal computers. Some of the most popular VoIP software are Skype, Discord, Zoom, and etc. Small businesses are the ones benefiting from this the most.

VoIP is being used by most of the companies today including brokerages, tourist companies, customer services, hospitality, e-commerce, real estate, healthcare, and even online casinos. The way, for example, casinos are using these services are by having a live communication between the dealer and the users for games like poker, blackjack, and so on. Due to this almost all of the new online casinos 2020, are utilizing this technology is quite a huge dosage. Like the CEO of one of the most prominent Australian online casinos has stated it has overtaken 100% of the communication not only between the casino and their customers but the employees as well. Even the phones that look like your everyday normal telecommunication devices in our offices are usually utilizing the same software to connect with each other using the intranet.

VoIP Pros

  • Cost is one of the main advantages of VoIP. While the long-distance communication over the POTS is extremely expensive and can accumulate huge bills for the users (and companies that need to utilize it during day-to-day business). This includes maintenance  costs as there is virtually no need to pay for any of the expensive equipment as the hardware already present to do the business can and is being utilized for this exact purpose as well.
  • Features of VoIP software is just outclassing the telecommunication on every front. In addition to voice communication, it also adds features like conference calls, instant messaging, video calls, file sharing, and integration of third-party software like Customer Relationship Management software, or CRM.
  • No geolocation restrictions are also a huge draw for the VoIP. Normal telecommunication requires roaming and other extremely expensive services, the VoIP is virtually borderless as the only requirement it has is an active internet connection.
  • Multitasking is extremely important for customer support since the VoIP is done on a smart device the information for customers can be pulled up literally in front of you during the call without switching between devices.
  • Scalability is one of the biggest draws for VoIP since it’s very easy to add new features and change subscription plans. It requires no extra hardware to be installed. Just by increasing the subscription plan, one can simply install the software on a new device and you are good to go.
  • Redirecting any type of communication is extremely easy. This applies to things like missed calls to a different business line, mobile phone numbers, voicemails, emails, and any combination of these very services.

This is just a shortlist of benefits since listing everything will make this article a small university thesis. The market is increasing by huge margins from being $83 Billion back in 2015 to expected $140 billion in 2021. One of the biggest jumps in the usage of VoIP happened during the coronavirus pandemic, which required a lot of businesses and universities to switch to online. Due to this Zoom has become one of the fastest-growing companies of 2020. The VoIP industry is not dropping the tempo though. With the continuous development of the internet infrastructure it is only expected to grow more and add bigger and better quality services to its already huge list.