Technological developments have played a very big role in improving the cost-effectiveness of businesses. One of the biggest cost savers is a new generation of cloud phone systems.
Cloud phone systems might sound expensive, but they can actually save businesses a lot of money on communication costs. Most businesses that make the switch will at least cut their communications in half. It is not uncommon for companies using cloud phone systems to see cost savings as high as 70%.
What are the reasons that cloud phone systems are such great money savers? Some of the biggest reasons are listed below.
Upfront installation costs and ongoing maintenance expenses are a lot lower
You can remove traditional telecom companies from your communications strategy when you post your communications in the cloud. This saves money on both maintenance and installation.
A third-party company will handle the entire installation process for you. You don’t need to hire a contractor to do it yourself, which means you don’t have to worry about overpaying somebody that bit too high for a contract.
The third-party company will also take care of all of your maintenance needs as well. They cover maintenance costs with a standard monthly fee. This is a much better deal then having to pay a steep premium every time something goes wrong.
Downtime costs are far more negligible
Downtime can be very costly to the average business. Unfortunately, some downtime is inevitable, no matter what technology you use. However, The average down time is going to be a lot higher for companies using traditional telephone services.
You can cut down time significantly when you use a cloud phone system. This will improve staff productivity, as well as customer satisfaction. Both of these benefits make it much easier to scale your business.
Superior accessibility leads to more business leads
As technology continues to improve, customer expectations will continue to rise. Companies that failed to adapt to growing customer expectations risk falling behind.
Some companies are trying to streamline their customer service models by handling all inquiries over the web. This can be a huge mistake. Recent polls have shown that 66% of all customers want to be able to engage with companies through more than one medium. This means that traditional telephone support services still need to be provided.
This can be a bottleneck for companies that don’t want to offer costly telephone support services. The good news is that cloud phone systems have removed many of these barriers. They have a much easier time offering support through telephone, do to better cloud technology. Companies that use cloud phone support don’t have to worry about falling behind.
Reduce the costs of poor customer retention
Customer retention is a big part of any business model. The cost of finding new customers are at least four times as high as keeping existing customers.
The good news is that cloud phone systems have significantly improved customer retention. This makes it a lot easier for agents to engage with customers well and build strong relationships with them.
Scalability is a top concern for every organization. Cloud phone systems have proven to be remarkably effective at improving scalability for businesses of all sizes.
Improving reporting through better data collection and retention
Big data is playing a more important role in business communications every day. Cloud phone systems have proven to be remarkably effective at utilizing big data. PBX Hosting is a leading phone system that operates on the cloud. PBX can collect and store data and use it for better reporting. You can use an automated feature to schedule different reports based on a variety of different metrics. These reports can be sent to a variety of recipients through email.