As per Global Market Insights, the market size for VoIP was over USD 30 billion in 2020 and is expected to grow at a CAGR of 15% by 2027. With the business landscape evolving at a rapid pace, most companies today demand a global approach to communications and are making a switch to a VoIP system. Not only does this switch enable businesses to reduce overhead phone costs by 50%, but there are also several other benefits of VoIP such as enhancing customer service, making more calls, and more. Keep reading this post further to learn in detail what a VoIP phone system is and how it lets businesses thrive and succeed in this competitive marketplace.
VoIP Phone System for Business: An Introduction
A VoIP telephone system, also known as Business Phone System, Hosted Phone System, or Cloud PBX works as the backbone of communication for businesses of all sizes. It’s a type of communication technology that allows businesses to make or receive phone calls over the internet. With the help of this new-age communication technology, companies are enabled to connect with their employees, partners, and customers through internet calling. In addition, a VoIP or a cloud phone system has a host of vital features that benefits your business and enables it to stay connected.
Top 6 Features of a VoIP System
Below is a list of features that explain why businesses should ditch their current traditional phone system and invest in the next-gen VoIP:
1. Multi-tenancy
The multi-tenancy feature of the VoIP phone system for small businesses as well as large enterprises ensures effective team communication and collaboration. Through this functionality, managing the system no longer needs to have manual intervention and all tasks can be easily automated. As a result, businesses can save a lot of time and money. A Cisco report suggests that having a VoIP system can help agents save an average of 32 minutes per day. The call center agents can utilize their time in doing other important tasks, which ultimately increases their performance and productivity.
2. Call Barging
Call barging is one of the most common services that most telephone service providers offer. It allows a third party to access previously recorded conversations and make a call in-between if required. With a VoIP phone system, call barging comes as a handy feature as it allows businesses to track the quality of their customer service. Apart from this, it also acts as an excellent tool for managers to monitor agents’ performance, understand how the interactions are going, take quick actions on customer feedback or concerns, and provide team members with real-time training and guidance.
3. Call Forwarding
Call forwarding is known to be one of the best and the most important features of a VoIP system as it ensures that no customer calls will go unanswered. When enabled on your call center software, all the incoming calls are automatically redirected to an alternate contact number. This functionality of a VoIP phone system for businesses with customer-facing departments provides agents the flexibility to redirect calls to another device and address customer queries regardless of their geographical location. Ideally, it’s most suitable for businesses that work in hybrid or remote cultures. Besides, in case any of your agents are out of the office, they can simply enable this feature to make sure that they don’t lose an opportunity to acquire or convert customers.
4. Call Recording
If you’re running a business that operates in an industry subject to regulations, you must record all your calls. With the call recording feature of VoIP, you can easily keep track of all the conversations your agents have with your customers and determine the customer satisfaction score. Listening to recorded calls also enables you to monitor your agents’ performance, understand customers’ needs and requirements, and take decisive actions.
5. Auto-Attendant
Automate attendant is perhaps the most recognizable feature of a VoIP system. With the help of this feature, the phone system directly transfers all the incoming customer calls to the correct extension. As a result, the wait time on call for customers is significantly reduced and the overall customer experience is improved. This functionality of a VoIP phone system is ideal for businesses or call centers that have to handle a huge volume of inbound calls in a day.
6. Integrating Business Tools
Most small businesses Hosted PBX systems come loaded with a host of tools that enhance the functionality of their software or platform. For example, HoduPBX, an IP PBX software by HoduSoft allows third-party payment gateway integration like PayPal or Stripe to allow customers to make payments online for services and features. In addition, it also allows CRM integrations such as Zoho PhoneBridge Click2Call to enable agents to access customer contact details and connect with them directly from the phone system dashboard with just one click. These integrations empower businesses to make their customer operations more centralized and personalized.
Empower your teams with a feature-rich VoIP Phone System for business
Now that you know the features and benefits of VoIP for every business, wait no further! Ditch your business’ traditional phone system today and get the best VoIP to streamline all your business communications. Investing in this next-generation cloud phone system will not only enhance the workflow but also provide you with the flexibility to boost your team’s productivity.
If you are looking for a VoIP system with features like IVR, skill-based routing, real-time analytics, and conference calling in addition to the above features, HoduPBX is the perfect solution to opt for. This system by HoduSoft is crafted carefully to meet the needs of businesses with single-tenant or multi-tenant users and is delivered over the cloud or on-premise to enhance their customer experience and employee engagement. To learn more about HoduPBX, drop a mail to HoduSoft at sales@hodusoft.com or call now at +1-707-708-4638