Business trips are a large and common expense that almost all companies have to make at some point or another. Due to the fact that the company ends up paying for the trip instead of employees having to pay out of pocket, there is often the temptation to spend a little bit more to get the nice hotel rooms or business class airfare instead of an economy flight and a cost-friendly hotel. However, these expenses have to come from somewhere, and ultimately result in less value for customers, shareholders and employees. One way to cut the cost of travel and also reduce the temptation for spending more, is to use web conferencing.
Web conferencing is a much cheaper alternative to travel expenses, as it allows multiple parties to engage in communication through various devices. According to Rob Asghar of Forbes, businesses do best when employees treat the company's money as their own. While it may seem like a good idea at the time to send everyone on a business trip to attend a conference as a reward, managers might be disappointed at the end of the year when it comes time to hand out bonuses and increase salaries. Instead of receiving bonuses, employees are instead funneled toward the business trip as a “reward”.
In 2013, businesses around the United States spent approximately $105.4 billion on travel expenses, which could otherwise be directed towards web conferences, bonuses or even improved amenities for within the office. Globally, travel expenses for meetings and events is expected to have been somewhere between $600 billion and $700 billion.
Web conferencing is particularly useful for International conferences as well, as the cost of traveling overseas is enormous when compared to the cost of connecting a conference call – both in actual dollars spent as well as time wasted. Because of these reasons, web conferencing is the more affordable and efficient alternative to traveling for business purposes. While travel will most still be needed for particular situations, a large majority of trips could be replaced with a simple web conference that saves time, money and boosts company efficiency.