When it comes to communication solutions, Voice over Internet Protocol (VoIP) systems are by far one of the best options for businesses. To make and receive calls, all you need is a stable internet connection, which means you can get rid of those outdated landlines.
Understanding the cost of VoIP phone systems
VoIP system costs that you should know about
Like all business components, Voice over Internet Protocol (VoIP) systems have costs of ownership, or the direct and indirect costs accrued by a certain service or product. Understanding your VoIP’s total cost of ownership will help with your tech budgeting and more.
How much does a VoIP system really cost?
If you’re in the market for a Voice over Internet Protocol (VoIP) phone system, you’re bound to come across solutions with similar features and add-on services. Some may offer a combination of these at a lower cost, so you might be tempted to go for the most affordable option.
How to calculate the TCO of VoIP
Picking a VoIP solution for your business can be tricky since there are so many data plans to choose from. But here’s a pro tip: Calculate the total cost of ownership (TCO) and not just the monthly fees.
What is TCO?
TCO is the overall sum of procuring, deploying, and operating a VoIP system over its life cycle, which is typically five years.
Evaluating the total cost of VoIP systems
When investing in new technology, cost is always a deciding factor, especially for VoIP phone systems. No matter what features or services it’s bundled with, there’s no point in investing in a phone system that easily puts you over budget. That’s why it’s important to evaluate the total cost of ownership (TCO) of VoIP systems.