Is your company still relying on a legacy PSTN? Are your phone bills saddled by excessive fees for long-distance and international calling?

Well, based on the numbers, there’s a good chance neighboring businesses have made the switch to an IP-PBX service and they are reaping the benefits. The VoIP industry is on the rise, with the market expected to pull in $88 billion by 2018 for VoIP services revenue, according to Infonetics Research. So, not only are your competitors upgrading their technology, but they are also earning back the bucks your company is shelling out on hardwire repairs and long distance call fees required by PSTN.

Companies that use VoIP are getting the most out of their corporate communication services. Specifically, they are enjoying the cost savings associated with VoIP, with the potential to cut their telecom bills in half. Additionally, by simply upgrading their phone system technology, companies can add extensions and lines free of charge as well as enjoy the ability to connect remote offices with bridges, eradicating long distance call charges.

When it comes to scalability, an IP-PBX phone system also has you covered. If you are a business owner whose company is just about to take off, you’ll be expanding office locations and adding an influx of new employees. Reliable and up-to-date communication tools are as vital as keeping business finances in check. All the integrated features that VoIP has—from SIP trunking to WebRTC—will lend a helping hand financially while simultaneously improving internal networking.

So, maybe you didn’t realize your competitor down the street was such a smart saver with a firm grasp on today’s evolving communication resources. But, now is certainly the time to make sure your business doesn’t fall behind due to old-fashioned technology and the associated costs.