Video conferencing technology is far from a new concept in for business buyers in 2023. For years now, organisations have been relying on video to reconnect teams, improve collaboration, and enhance productivity.
While the rise of remote and hybrid work has accelerated the adoption of video technology, demand for more immersive conference experiences has been growing for some time.
Studies show around 99% of employees believe video conferencing improves the quality of their communication experiences. What’s more, 90% of people say video makes it easier to share information, and 89% say it reduces the time involved in completing tasks.
Despite this, there are still a number of companies around the world that have yet to implement their own strategy for video communication and collaboration. Here are some of the key reasons why every business should invest in video conferencing software moving into 2023.
1. Video Strengthens Communication
Connecting over the phone or via instant messaging may be fine for some conversations. However, for real, immersive, and collaborative interactions, few tools are more effective than video conferencing software. Unlocking the power of video for teams means employees can access all of the contextual information they need during a discussion to make the right decisions.
Many business leaders agree that around 70% of our communication is non-verbal. Video allows us to better understand our colleagues, customers, and contacts, by providing access to gestures, facial expressions, and body language. Video conferencing doesn’t just mimic the components of a face-to-face interaction, it also comes with a variety of tools to enhance conversations.
A video collaboration tool can allow users to share their screens, files, and other information while talking with colleagues, to provide access to endless useful information. The same solutions can also reduce the risk of misunderstandings and confusion, with real-time transcription, multi-language translation, and instant recording.
2. It Saves Time and Money
Video conferencing is efficient. Implementing video conferencing software into a business environment means companies can instantly launch powerful, engaging meetings, webinar sessions, and events with minimal initial investment. With video, there’s no need for employees to travel long distances to connect with subject matter experts, stakeholders, or colleagues.
In fact, 47% of companies say video has helped to reduce travel costs in their organisation by around 30% or more. Not only does this reduce the outgoing expenses of today’s brands, but it can also help them to adhere to the latest standards for sustainability. After all, driving to a meeting one hour a way can use the same electrical power as around 1,000 hours of web conferencing.
With video conferencing software, there’s also less stress and strain involved in bringing staff members together from multiple distributed locations around the world. Built-in calendar tools with AI technology can suggest the perfect meeting time for each employee, based on their availability, time zone, and various other factors.
3. Video Strengthens Employee Engagement
In an age defined by trends like the “Great Resignation”, companies are under more pressure than ever to ensure they’re constantly engaging their employees, and keeping them happy. Video can assist companies in not only retaining their existing staff members, but attracting new talent too.
With access to video conferencing software, companies can open the door to new remote and hybrid working opportunities which support team members in staying productive wherever they are. Even before the pandemic, up to 30% of workers said they’d be happy to take a pay cut if it meant they could work remotely, or according to a flexible schedule.
Embracing video conferencing software also means companies can connect with talented employees all over the world, without worrying about geographical boundaries. Anyone can work asynchronously or in real-time using video conferencing tools, from any application or desktop connected to the right cloud software.
4. It Improves Company Culture
Company culture isn’t just a buzzword for today’s businesses; it’s an important part of ensuring employee experiences remain positive. According to Microsoft, around 98% of people say video helps them to feel more connected to their colleagues. This suggests video conferencing software could help to facilitate more meaningful relationships between staff, enhancing company culture.
Video is a great way to keep everyone on the same page, and connected on a human level. Thanks to evolving video conferencing software solutions, the right technology can also improve the diversity, equity, and inclusion strategies of modern brands. Leading tools now have solutions available to transcribe speech into text for those with auditory issues, as well as real-time sign language services.
Pioneering video conferencing solutions also come with tools specially designed to help bridge the gap between remote and hybrid workers wherever they are. Solutions like Microsoft’s “Together mode” can help to make staff members feel more aligned with other people in their team. Video conferencing tools with built-in AI can even help to boost eye contact in “face-to-face” meetings.
5. Video Can Improve Compliance
In the past, buying video conferencing tools to enhance collaboration was often problematic from a collaboration perspective. Companies struggled to capture all of the information shared in a video conference for their records. However, integrations and compliance tools have begun to eliminate this problem. Companies can now record and store contextual meeting information, with access to everything from screen-sharing insights, to transcribed voice.
Buying video conferencing software can help businesses to keep accurate records of everything that transpires in a meeting with a colleague or customer. This not only improves the security and compliance of the business, but can also lead to better productivity too. Users can easily search through recorded and stored meetings to recall valuable information.
There are even specialist tools available that can help companies to flag potential compliance issues during meetings and video events, to ensure their records remain safe.
In today’s evolving workplace, video conferencing isn’t just a great way to bring team members together; it’s a valuable tool for compliance, company culture, and productivity.
