People who are involved in the business of selling or leasing out video conferencing equipment often tout it to business leaders on the basis that ‘it can improve business efficiency.’
A question tends to come up, however, as to how exactly video conference technology can improve business efficiency.
That, then, is the question we venture to tackle – as we explore some of the specific ways in which video conferencing technology can make a business more efficient.
Video conference technology and its impact on Human Resource Management Efficiency:
There are several ways in which video conferencing technology can have a positive impact on the HR business function. One of these is where recruitment is carried out more efficiently, with preliminary interviews being held by way of video conferences.
That would in turn save the organization considerable sums of money it would otherwise have to spend reimbursing candidates’ travel and accommodation costs as they go for face-to-face interviews.
Through video conference technology, it becomes possible for organizations to give some of their staff concessions to work off-site (that is, concessions to telecommute). That can in turn lead to better rates of talent-retention, seeing that there are many talented people who will quickly jump with enthusiasm on hearing about the opportunity to work for an employer who allows them to telecommute.
Thanks to video conference technology and systems, it becomes possible for HR managers to remotely manage their staff who may be in far-flung areas, without having to organize face-to-face meetings, which are usually inefficient.
Free video conference technology and its impact on marketing management efficiency:
This is where, for instance, customer relationship management can be improved through the use of video conference technology.
In ordinary business interactions, we often see many client concerns going unaddressed (or being inconclusively addressed) due to lack of face-to-face contact. But that can be done away with through video conference technology, which simulates face to face contact.
Through the open, unpretentious interactions with customers made possible by video conference technology, it becomes possible to get a deeper understanding of the customers/clients, through which their needs can be figured out and subsequently met in the best way.
Interacting with clients through video conference technology gives you the opportunity to form strong bonds with them, and that would in turn make them give you preferential treatment whenever they have business orders. This is in line with the well known ‘brotherhood effect’ in marketing.
These ideas are just some ways on how to improve efficiency on video conferencing. As you actually start to take advantage of the benefits of a video conference you are sure to realize many more on your own.
Video Conference Technology and its impact on Financial Management Efficiency:
Video conferencing technology has an impact on financial management efficiency to the extent that it brings with the opportunity for cost-cutting. Among others, business travel costs can be cut significantly through the use of properly-leveraged video conference technology.
Video conference technology and its impact on operations management efficiency:
This is where, for instance, through the use of video conference technology, it becomes possible for production and marketing departments to interact in real time, leading to expeditious production decisions. That would be as opposed to the situation where face to face meetings have to be organized between marketing and production departments, to discuss customer requirements, before production can commence.
The efficiency element comes in when you realize that during the time when such face to face meetings are being organized, production capacity is likely to be lying idle – which is the hallmark of inefficiency. Through video conference technology, customer order requirements can be discussed in real time, as they come in; thus ensuring that the production capacity is never idle even for a moment.