Voice over Internet Protocol (VoIP) systems can streamline business communications, but like any technology investment, you need to consider its direct and indirect costs. Here are the different costs you need to account for when owning a VoIP system.
When investing in VoIP phone systems, cost is always an important factor to consider. No matter what features it’s bundled with, a phone system that easily puts you over budget isn’t worth investing in. That’s why it’s important to evaluate the total cost of ownership (TCO) of VoIP systems.
There are so many VoIP phone systems in the market that you’re bound to come across a few with similar features and add-on services. When this happens, most business owners will compare the price and purchase the more affordable option. But you shouldn’t only be looking at the initial price of the VoIP system; you must also look at the total cost of ownership (TCO).
What is TCO?
The TCO is the overall sum of procuring, deploying, and operating a VoIP system has over its life cycle, which is typically five years.