The telecom sector is highly competitive. It’s difficult to differentiate the plans and offerings of one service provider to another. Bandwidth, speed, and connectivity are almost identical. So are the pricing plans. To stay in business, telecom providers need to keep their costs down and focus on competitive edge and unique selling propositions (USPs). The latter is a long process and it needs considerable investment in terms of time, resources, and efforts. The former, however, is easy and simple to achieve.
As the saying goes, “money saved is money earned.” A savings of even a few hundred dollars can matter a lot. But what if the savings is in thousands? It is possible indeed, all thanks to modern technology such as IP PBX solutions.
Being highly scalable and sophisticated, Internet Protocol Private Branch Exchange (IP PBX) solutions considerable costs and maintenance expenses. Not just that, they also enable telecom companies to enhance operational efficiency by leaps and bounds. In this blog post, we have discussed how telecom providers can reduce telecom operating costs by leveraging scalable IP PBX solutions.
Key Cost Efficient Features of IP PBX Solutions
When it comes to reducing costs, some features of IP PBX solutions are more cost effective than others. Some of the cost efficient features of IP PBX solutions are:
1. Least Cost Routing (LCR)
With such a self explanatory name, would it be surprising to know that telecom providers can considerably reduce communication expenses by leveraging this feature?
As the name suggests, LCR is an advanced call routing feature that selects the most cost-effective path to make or receive calls and messages. SIP trunking comes in handy to make and receive calls. It divides traffic between multiple carriers and reduces long distance calls, tariffs and international calling costs by leaps and bounds. It not only focuses on telecom costs but also considers various other factors such as network quality and traffic.
2. VoIP-Based
To make and receive phone calls, IP PBX systems use Voice-over Internet Protocol (VoIP). So, that’s yet another reason behind IP PBX systems’ cost efficiency. As per studies, VoIP technology can bring down communication costs by up to 70 percent. When used in the right way, VoIP systems can bring significant cost savings. Many surveys have revealed that VoIP systems can halve international communication costs. As far as local calls are concerned, the costs become a fraction of what they used to be.
3. Cloud-based
The term “cloud,” in telecom lexicon not only signifies high flexibility and scalability, but also cost efficiency. Unlike traditional PBX systems, cloud based solutions are not tied to one place and they eliminate the need to invest in specialized hardware and expensive infrastructure. They also eliminate several miscellaneous costs such as installation and maintenance charges, costs of hiring a professional team, and more.
By switching to cloud-based multi-tenant IP PBX solutions, organizations can save up to 60 percent on communication expenses, revealed a report released by Texas-based Frost & Sullivan. Another data projects 80 percent of businesses will adopt cloud-based communication systems by 2025. The multi-tenant IP PBX or hosted PBX cost savings will drive the adoption.
4. Unified Communications
The name itself is self explanatory. Be it audio, video, chat, messaging, and more. Unified Communications (abbreviated UC) is the integration of different channels into one streamlined interface. From the day one of its launch, UC technology played a key role in not only delivering a unified communication experience but also reduced communication costs by leaps and bounds.
The findings of this data indicates communication costs can go down by up to 50 percent, all thanks to Unified Communications as a Service (UCaaS). In the coming years, it is expected to become much more cost efficient and lower telecom costs considerably. Businesses that aim to reduce their operational costs should consider UC.
5. Analytics, Reporting, & Integration with Business Applications
Businesses can reduce operational costs by leveraging data analytics and reports. Won’t they? Well, sophisticated analytics and reporting tools in IP PBX systems can help businesses calculate a wide array of costs in real-time. Would you be surprised to know that integration of IP PBX solutions with existing infrastructure can result in cost savings for telecom companies?
No, you shouldn’t. Integration with a range of existing business applications doesn’t need businesses to invest in new applications. When PBX systems are integrated with third-party business platforms such as Customer Relationship Management (CRM) platforms, SMS and MMS systems, ticketing applications, and more such platforms it enables businesses to run their operations using the existing systems.
Taking Everything Into Consideration,
In the present time, telecom companies must do whatever it takes to minimize their operating costs. That’s the key. To remain competitive. To enhance their offerings. To enhance their business operations. That’s the Holy Grail for long-term success.
Now, the question comes “How can an organization achieve considerable cost efficiency?” It can by leveraging sophisticated communication systems. After all, communication is one of the major areas that involves huge costs. A good solution is the Internet Protocol Private Branch Exchange (IP PBX) system. Its advent has come as a boon for many organizations, especially the ones in the telecom sector.
IP PBX systems not only enable telecom companies to deliver exceptional telecom services to their clients but also reduce costs by leaps and bounds. As a professional in the telecommunications industry, you must do whatever it takes to find and select the right IP PBX software solutions for your business.
