Travel company, Hogg Robinson’s recent trading results revealed that that the credit crunch is indeed taking a bite out of corporate foreign travel and that finance houses are bringing back video conferencing as a result. Chief executive David Radcliffe explains: “Certainly, we began to see some changes in the final quarter of the financial year and some of our managed clients, particularly those in financial services, have sought to reduce their overall travel expenditure.”
So while many have mooted that the rise in corporate video conferencing is down to a concern for the environment, it seems that financial concerns might be at the root of the boom. Anthony Finbow, CEO of Pystechnics, has witnessed the rising popularity of video conferencing from another angle:
“We have noticed that many more large corporations are now deploying video conferencing platforms as an addition to traditional voice conferencing facilities. With the rising prices of oil and airport taxes, and more companies looking towards remote working, this trend is set to continue throughout 2008.
“Telephone contact will not satisfy those who demand a more personal approach to business so companies who are looking to cut travel costs will increasingly look towards video conferencing, especially if user quality can meet acceptable standards in faithfully reproducing the personal nature of a face-to-face meeting. Performance management tools are essential to enable corporates to meet these standards without having to face the huge alternate costs involved in making major upgrades to their access networks.”