Upgrading the phone system is a big decision for any business. It comes with significant costs, so it’s only natural to consider how much ROI it can provide you in the long run. Here Nebula Solutions, one of the area’s leading telephone service providers, discusses some of the factors that can influence the ROI of your VoIP system.
Soft & Hard ROI
When determining the ROI of a VoIP upgrade, it’s common to first look through the hard ROI before considering the “soft” benefits it can provide. Hard ROI refers to your savings on recurring charges like voice trunk lines or PBX lease. Meanwhile, soft ROI refers to the business benefits that help increase your net profit.
To quantify the hard ROI, you should look at monthly telecommunications system expenses that can be reduced or eliminated. For example, conferencing typically costs a lot of money. However, with a VoIP telephony system, this feature often comes built-in at a lower cost than a separate conferencing service.
After figuring out the areas where you can save money, you can start thinking about the soft ROI — which usually covers improved customer service, greater employee efficiency and more convenient setup of new users.
Training and personnel costs are often overlooked when it comes to costs and savings. If you’re upgrading your phone system, you’ll likely need to invest in training so that everyone knows how to use the new system and can maximize the advantages of the upgrade. Many VoIP providers have even started including training in their packages. That said, you might want to focus on training your internal IT staff first and then have them train the other employees later on.
Nebula Solutions can help you determine the best solution for your communication needs. If you’re curious about bell cable, internet and various other phone systems, feel free to call us at (888) 257-0955 or fill out our contact form to request a consultation. We serve customers in Cincinnati and Columbus, Ohio.