Voice over Internet Protocol (VoIP) systems can streamline business communications, but like any technology investment, you need to consider its direct and indirect costs. Here are the different costs you need to account for when owning a VoIP system.

Voice over Internet Protocol (VoIP) systems are a cost-effective way to improve business communication, as they are billed at a standard monthly fee. But aside from the monthly bill, your VoIP system will also come with other costs of ownership that you should know about.

Electronic medical records (EMRs) digitize your paper medical records and, when properly implemented, can generate a positive return on investment and improve organizational efficiency. The major drawbacks of paperwork are that it hinders a healthcare institution’s ability to treat patients and slows down processes.

If you want to get the most value out of a Voice over Internet Protocol (VoIP) solution, assess the actual cost of having one. There may be additional or hidden expenses that you might fail to consider, so analyze the total cost of ownership (TCO) to fully comprehend your telecommunications spend.

When investing in VoIP phone systems, cost is always an important factor to consider. No matter what features it’s bundled with, a phone system that easily puts you over budget isn’t worth investing in. That’s why it’s important to evaluate the total cost of ownership (TCO) of VoIP systems.

Choosing whether or not to deploy VoIP phone systems is an easy decision. But choosing a system that works for your business can be difficult, with all the products, vendors, features, and data plans available. Oftentimes, however, selecting a VoIP system comes down to calculating the total cost of ownership (TCO).

What is TCO?
The TCO is the overall sum of procuring, deploying, and operating a VoIP system has over its life cycle, which is typically five years.

Your technology needs to produce a return on investment. If it doesn’t, you’re wasting you and your staff’s time and money. But how can you ensure you gain that coveted ROI you’re after? What does it actually mean to have a positive ROI? And how can you tell if you have one? Here are a few tips for calculating the true costs of a new technology investment.