Deciding whether to adopt a VoIP solution for your business is simple. Once you have a clear quote available, all you need is a yes or no. The difficulty comes in when it’s time to choose the right solution that could cater to your business needs. You should be aware when acquiring a service, you must think outside the box. Think about additional expenses hidden beneath the surface in the long run.
First is to understand the total cost of ownership (TCO). Total Cost of Ownership (TCO) is your financial envelope. TCO lays down all the costs during the lifecycle of a product. It is crucial to have an in-depth TCO to determine the costs associated with your VoIP solution.
Below will unveil the financial merits of acquiring VoIP:
1. Upfront costs
You need to examine the features being offered to get the best value out of your investment. Research and dig up reviews from other companies. It will give you an overview of the quality of the VoIP system you want to select. While high-quality phone systems will come at much higher price points, it does not mean that it comes all-in with hardware and equipment. Remember that additional costs may arise for headsets, webcams, and network connection.
Look at the payment options as well. Getting it outright carries a steep upfront cost. Paying a monthly subscription or renting from a reputable third party can also be an option.
2. Implementation costs
Upfront costs are the starting point. Implementation costs is on a deeper level. It is the actual cost you deal with as you design, deploy, and configure a VoIP system. Installing a completely new phone system requires experts. You’ll need to hire experts who can teach employees how to use the VoIP system effectively and securely. Some businesses pay consultants or managed services provider (MSP) for guidance and support.
3. Operational costs
Operational cost is the heart of everything. This covers monthly recurring costs of voice and data plans. For example, some service providers charge local and long-distance calls per minute, while others offer unlimited local calls for a fixed monthly cost.
If you’re managing your own VoIP system, consider expenses such as monthly power, cooling, and maintenance fees. Getting someone who can host for you will save you from these costs.
4. Upgrade costs
Technology improvements happen from time to time. Setting aside an additional 10-15% of your budget to VoIP upgrades comes in handy for the future. Having an upgrade plan is crucial especially if your business is growing at an increasing rate. As you cope with this growth, consider major or minor upgrades will come in the way. For example, integrating a customer relationship management (CRM) software to your VoIP system will be useful if your business focuses on quality customer service. These integrations mostly require additional costs so preparing an allowance is helpful.
VoIP system costs are understandable. There are numerous choices and decisions to make prior to selecting your VoIP provider. The real cost comes down once you look at the bigger picture. Evaluating the TCO will give you a clear idea of how much you can expect in paying a VoIP system.
Got some questions? Blackpoint IT is here to help. Our lines are open 24/7 to explore your VoIP capabilities.
