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How Video Conferencing Has Changed International Business

Posted by Neil L
Oct 11, 2016

How Video Conferencing Has Changed International Business

As the process of globalisation continues to shape the world around us, how we connect, engage and trade around the world is rapidly evolving. Video conferencing has been around for a number of years and is often great for in-house communications with remote workers but it has also changed how we do international business.

In an interconnected world, the advent of new technologies means that the way business is conducted can pivot rapidly. Embracing these modern ways of communication is imperative to growth. Here we take a look at a few ways video conferencing has helped companies expand across borders.

Eliminates Travelling

Regularly travelling for hundreds, or thousands, of miles just to attend meetings is exhausting and time-consuming, stopping people from being at their most productive. Of course, sometimes it is crucial for sealing deals or improving relations. But this isn’t always the case and by simply having the software in your office to be able to speak to colleagues and clients via a video conference you can reduce the time and money spent on travel.

Increased Productivity

By saving the expense of these things – from train tickets to overnight stays and food expenses – the initial outlay involved in acquiring video conferencing software is easily redeemed. Not only that, but it helps the work–life balance of anyone who can reduce their travel as a result of using video conferencing, avoiding burnout and improving productivity.

Allows Money to Be Spent Elsewhere

Small companies that are emerging and becoming multinational need to be expanding quickly. By saving the money mentioned here, these resources can be put to better business use by investing them elsewhere.

Brings People Together

As well as reducing the need for more physical meetings, this technology also opens the door for an increase in informal meetings with both the team and the clients. This could be a screening to decide whether a trip overseas is necessary, a quick check-in with a client hours away or a weekly meeting with your team wherever they may be. Stay in touch whenever and wherever with whomever.

Non-Verbal Communication

Often, we want to have discussions in person. Speaking to someone face to face gives you the chance to better understand if you’re a good fit. The nuances that come with non-verbal communication, like genuine passion, enthusiasm and eye contact, help to create a good rapport. This can’t be done in a phone call and, while it isn’t the same as physical contact, video conferencing helps to put you and your client at ease.

Better Problem Solving

If there’s a problem with something that you are involved in, you can get a question answered much more quickly via video conference. Physical contact is often not required to explain an issue and with video conferencing everybody involved can be in the meeting so your problem is likely to be solved much more quickly – whether it’s in house or with a client.

By 2020, 70% of people will be working away from their desk as much as at it.

Citrix, the US software giant, has forecasted that by 2017 half of all businesses will have remote working policies and almost three quarters of us will work away from the office more by the end of this decade. This isn’t solely down to video conferencing, but the advancement of technology as a whole is shifting the emphasis of business and offices are becoming more for touchpoint collaboration than anything else. Video conferences are therefore a good way to keep in contact.

Competitive Advantage

By being available for video conferencing, you can do business faster and use the flattened marketplace and globalisation to your advantage. Clients use firms that make things easier for them and by communicating more frequently, sharing information more quickly and collaborating more easily, your bond will be stronger and services or products will be brought to market more quickly than those of your competition.

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