Videoconferencing gaining attraction among EU firms

EU organisations are increasingly using videoconferencing as a tool of communication to reduce costs and travel time, according to a study carried out by Frost & Sullivan.

The analyst firm’s Competitive Benchmarking Services analysed four key aspects of the mobile communications and computing products and services sector:  Laptop PCs, Mobile Phones, Smart Phones, and Wireless Service Providers. The sample included C-Level Executives, vice-presidents, owners and other company representatives.

The main findings concerned attributes towards investment, outsourcing, security and videoconferencing. Videoconferencing is considered an extremely useful tool that considerably reduces both costs and travel time. European companies also think of it as an easy way of transferring information and an effective mode of communication. Given that videoconferencing allows face-to-face interaction with clients/business partners without travelling it offers currently popular environmentally credentials.

Additionally, EU organisations prefer venture capital funds as a source of investment. This is considered the best financing option, followed by shareholders’ contributions and private investors through personal networks, while banks and other financial institutes are the least preferred.

The majority also feel that cost reduction is the major advantage in job outsourcing. But they also feel that it has other positive factors, such as adding workforce in other countries; potentially relevant, global exposure, and the opportunity to explore new markets. However, poor service and low quality output is a matter of concern to some organisations.