We’re seeing many interesting applications of Cisco’s TelePresence technology.

Citizens Bank is redefining “robosigning” with a system that allows customers to apply for a loan via video conference and use an electronic pen to put ink to paper in an office hundreds of miles away.

The bank is testing Cisco Systems’ TelePresence equipment at five Bay State branches as a way to speed up transactions between customers and off-site banking specialists.

http://bostonherald.com/business/general/view.bg?articleid=1344132&position=0

Expanded use of video conferencing to conduct preliminary arraignments and other court proceedings throughout the Commonwealth is saving taxpayers more than $21 million annually, according to a report released today by the Supreme Court of Pennsylvania in Harrisburg.
Read more: Video conferencing saves PA courts $21M | Pittsburgh Business Times

According to a new report by Frost & Sullivan, the video conferencing market continues to grow, and money saving is the main reason for businesses to turn to video conferencing services because it allows  employees to work from any location without the need to travel.

The report specifies that small and medium sized businesses (SMB) are likely to be among those that will benefit most from the technology:

http://www.conferencingnews.com/news/37558

The bottom line:  small businesses especially can benefit from video conferencing by using it to reduce travel costs and enhance productivity. In fact, small companies can pay for the equipment with just one or two business trips saved.

According to Cisco’s VP June Bower points out that “the compelling reasons for utilizing video communications technology are starting to pile up. Web meetings are not just a good way to connect a far-flung team. They also cut costs, boost productivity and more.”

Video Conferencing for Small Business

Video — already the biggest component of Internet traffic — will account for more than 50% by the end of next year and reach 62% by the end of 2015, according to Cisco’s latest Visual Networking Index Forecast.

By 2015, there will be nearly 3 billion Internet users, more than 40% of the world’s projected population and there will be more than 15 billion network-connected devices by then, according to Cisco’s Visual Networking Index (VNI) Forecast for 2010-2015.

Full article:

http://www.multichannel.com/article/469029-Video_To_Comprise_Half_Of_Net_Traffic_By_End_Of_2012_Cisco.php