On September 20th, IVCi hosted a webinar presented by the Aberdeen Group that focused on travel expense management and the power of video conferencing to significantly reduce expenses. Christopher Dwyer, analyst, offered some compelling data about how best-in-class organizations have been able to reduce travel and meeting spend by incredible amounts.

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WEBINAR RECORDING:

 Whenever video is sold or even mentioned, travel reduction is one of the first thing that comes up. In fact, the promise of decreasing an organization’s travel costs with virtual meetings is as old as video technology itself. Green initiatives, such as reducing emissions and carbon footprints, and increasing employee productivity due to less business travel are other highly mentioned benefits. 

But, how do organizations track these savings and really prove the ROI of video?

Join Aberdeen Research Director Christopher Dwyer and IVCi on September 20th at 2 PM Eastern at a webinar that will show you how organizations are successfully reducing business travel (and proving it) as they leverage video and virtual meeting technology.

In this webinar you will learn:

  1. The value of integrating video conferencing and travel/expense management systems
  2. How best-in-class organizations have leveraged virtual technology to improve meetings and events management
  3. The level of savings achieved by actual organizations currently supplementing or replacing in-person events with video conferencing

Sign up today!

The Traveler’s Guide to Video Conferencing
[Click here to Register]
Date: Thursday, September 20, 2012
Time: 2:00 PM Eastern / 11:00 AM Pacific (US)

Every organization has its reasons for looking at video conferencing and the impact that the technology can have on the organization. If you have gone down that path or are planning to, you’ve likely identified some sort of gap or shortcoming in the way your business communicates either internally, externally, or both. Below are a couple of standout pain points that could be pointing you to a video investment.

Ballooning Travel Budget
The travel expense benefit is about as old as video technology itself, but it continues to be a very compelling benefit. If you review your travel numbers and consistently see travel expenses increasing it may be time to take a look at the specific nature of these trips and identify how some of them may be replaced with video. Many organizations (including IVCi clients) have reported savings of over six figures by cutting just one regular executive meeting a month. That’s huge! Those are the types of savings that can greatly enhance a firm’s bottom line and make stakeholders quite happy.

Teams are in a Silo
Collaboration across cross-functional teams can be critical to the success of an organization. If you find that different teams within the company are not working together or even communicating their projects, video may be the answer. If product development simply isn’t connecting with marketing and sales, how do they know the viability and potential market for the new product they are designing? Many may blame a lack of team cooperation on geographic diversity. While this may be the case, video conferencing solutions can easily connect these teams face-to-face to ensure everyone is on the same page and working towards a common goal.

High Turnover of Talented Workers
Recruiting top talent is both time consuming and expensive. But, it’s even more expensive when those employees leave the company. Some of the top reasons employees leave include too much travel that negatively impacts their family life, a desire to work from home occasionally but not being permitted to, or remote employees who don’t feel connected to the organization. Video can address all of these issues while helping these employees complete their tasks in the most efficient manner.

Going Green Is Not Going Well
For the last several years companies have announced plans for green initiatives and some of the larger organizations have added reporting and metrics of success to their annual reports. But what happens when your announced green initiative is falling short? Video conferencing provides substantial green benefits including reducing your carbon footprint through less travel. Many manufacturers can provide a calculator that helps to determine that true reduction. Quantifiable numbers will go a long way in show the success of any green initiative.

The Competition is Always a Step Ahead
There is nothing more frustrating than having your competition beat you to the market with a new product, serve customers better, or outshine you in anyway. If you find that the competition always seems to be one step ahead, video could be part of the reason. Teams that utilize video are able to share information faster and make decisions quicker, resulting in reduced times to market for new products. In addition, organizations that have been able to leverage video in their direct customer communication will see better relationships and longer-term customer retention.

If you are seeing any of these red flags above and your company hasn’t looked at implementing video conferencing, the time may be now!

Additional Resources:
Video Conferencing Solutions

With so many organizations either using or implementing video conferencing, the technology is becoming ever-present. Whether an organization is implementing the highest quality immersive telepresence, or rolling out video across iPads and smartphones, someone at some point had to sell their boss on the value of video.

Perhaps you find yourself in a similar situation? Here are some tips to make it just a little bit easier to sell the power of video to your superiors.

Teamwork – Selling your boss on the value of video conferencing to connect disparate teams is crucial. Maybe you work with a sales person in Los Angeles, an engineer in Dallas, and a support specialist in Chicago. Connecting the team face-to-face will help make all of you more productive and foster better relationships. This type of increase in productivity will only help to increase the bottom line.

Travel Costs – This is an oldie, but goodie. There is no doubt that organizations save significant dollars on travel once video has been implemented. To make this process easier, see if you can get your hands on the company’s travel expenses from the last few months. If you can’t get that much data, look to your own expenses for travel. Take that number and calculate 25% to show the potential savings video can provide on travel. When presenting this to your boss, point out that 25% could be a conservative number.

Outsmart the Competition – With the rapid communication abilities of video, your company will be able to stay one (or maybe more!) steps ahead of the competition. Whether its responding to a customer issue in the shortest time possible or getting a product to market faster, this type of rapid response is only going to make your company and your boss look good!

Recruiting Top Talent – Remind your boss of the last time he recruited a new sales executive. It started with 10 phone interviews then four were brought in for face to face interviews. When the candidates showed up, none of them had the appearance or polish of a sales rep. It almost seemed like there was a different person on the phone! With video, the first interview can occur visually, making it easier to find the right candidate sooner.

There are many more ways to sell your boss. If you are in a particular niche industry (healthcare, legal) there are very specific use cases to present as well. But if you begin with the four points above, you will be well on your way to selling your boss.

“You can have brilliant ideas, but if you can’t get them across, your ideas won’t get you anywhere.” - Lee Iacocca

The Overlooked Benefit of Video

As a manager in the marketing department I have the opportunity to oversee a team of people who are all dedicated to helping push the power of video and its advantages across several industries.

Part of the marketing process includes coordinating campaigns and messaging across multiple locations. Creative ideas also need to continuously flow back and forth.  As a result, I am on video with several of my remote team members multiple times during the day.

What struck me this week is that I don’t even realize that I am speaking to someone who is thousands of miles away.

The power of video has made it possible to bring the entire marketing team together (located across three time zones and four states) and brainstorm ideas as if they were all sitting right next to me.  I can’t count the number of times a light bulb has gone off for me or a member of the team and I’ve seen that “AH HA” moment right in front of me, in glorious HD video.

It is very easy to get lost in the technology and its practical use cases; such as capturing a remote deposition, monitoring a manufacturing line, or managing a sales team. But what we cannot forget is the power of video to unify people and ideas.  When a team is able to come together and share their ideas there comes a point when a great idea or thought can take on a life of its own.  The idea itself becomes something even more powerful when everyone “gets it.”

Calculating the financial ROI of a VC/UC investment is certainly important. But when thinking about what you currently get out of your video conferencing investment or what you could get out of the technology, do not forget to include the human factor. This technology can break down barriers for your remote teams and allow them to work as a collective unit, in a way you never thought possible.