Like all business components, Voice over Internet Protocol (VoIP) systems have costs of ownership, or the direct and indirect costs accrued by a certain service or product. Understanding your VoIP’s total cost of ownership will help with your tech budgeting and more.

Upfront costs

Upfront costs are largely determined by the manner in which you acquire your systems, such as whether you buy a VoIP system outright or rent it from a third party. Although the former carries a steep upfront cost, payment does not continue indefinitely. This makes sense for large, fully staffed corporations with massive budgets. Meanwhile, the latter option is better for small- and medium-sized businesses (SMBs) that prefer to pay a small monthly subscription rather than make a huge initial investment.

Beyond the price of the VoIP package, upfront costs also include additional costs like headsets, webcams, and a higher-bandwidth network connection to ensure crystal-clear, uninterrupted calls.

Implementation costs

Implementation costs include the fees of consultants or managed IT services providers that design, deploy, and configure your VoIP system. And if you’re installing a completely new phone system, you also need to factor in costs associated with training employees on how to use the VoIP system effectively and securely.

Operational costs

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 fee.

If you’re managing your VoIP infrastructure yourself, you also have to take into account monthly power, cooling, and maintenance fees. If you opt for hosted VoIP services, however, you are only billed for maintenance.

Upgrade costs

You should also need to set aside some room in your budget for VoIP upgrades. For instance, you may need to integrate customer relationship management (CRM) software with VoIP to ensure high levels of customer satisfaction. Aside from the cost of the upgrade itself, you should also anticipate spending on consultation, as upgrade integrations have a better chance at success if deployed by experts.

Evaluating all the costs that apply to your business will give you a clear idea of how much you can expect to pay for your VoIP system. If you’re having difficulty calculating the actual costs of VoIP implementation, call our experts today. We’ll help you figure out which VoIP solution is most ideal for your business and budget.

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