Promoting the value of web conferencing
Return on Investment
The number of remote workers and telecommuters is growing fast, and at the same time, there is an expectation that we are on-call and available 24x7. Web and Video Conferencing is a natural fit since it enables a viable alternative to travel, effectively allowing colleagues and customers to communicate with ease, anytime and anywhere. Vendors of Web Conferencing solutions are highlighting the cost-cutting aspect due to reduced travel, but also the benefit to the environment in terms of lower carbon emissions. So the benefits are easy to see.
For businesses, the decision rests on what their particular conferencing needs are and which option will be most cost effective in the long run. It's really all about the Return on Investment (ROI) and what are the actual savings.
From an accounting point of view, calculating the ROI is relatively simple; place a monetary value on all the known benefits of purchasing a system, deduct all known costs, and then divide the total by the costs. Multiply the result by 100 to express ROI as a percentage.
If the ROI is calculated as 650, it means that for every £1 spent, there has been a net benefit of £6.50, after all costs are factored in.
Return on Investment Calculators
Click on the icons below to load some simple ROI Calculators. Feel free to adapt and experiment with some typical scenarios from your organisation.
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Return on Investment Calculator for an Online Meetings |
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Return on Investment Calculator for an Online Conference |