Will 2007 be the year of video conferencing?

Will 2007 be the year of video conferencing?

Companies believe collaboration with other firms has become critical to their long-term survival, according to new research commissioned by BT from the Economist Intelligence Unit. As the need for business collaboration becomes greater, remote working technology is transforming the nature of business. BT launched the findings as it prepared to unveil new video conferencing technology and services in 2007, which will further support, and remove the barriers for, collaboration between businesses. It plans to launch more life-like services that use ultra-high definition video.

More than half of the 187 senior executives polled for the report say collaboration will either form an important part of their firm’s competitive advantage or will actually be central to its survival over the next three years. In addition, 51 per cent say that they have changed their business model over the past three years to take greater advantage of collaborative partnerships. Key areas of collaboration include sharing supply chain data, establishing sales partnerships to tap fast-growing markets, and collaborating on research and development. In each of these areas, collaborative partnerships are delivering significant rewards: 28 per cent of respondents say their biggest collaborative ventures have delivered either more or much more value than expected, compared with 11 per cent who say they have not.

Aaron McCormack, CEO of BT Conferencing, said: “This research shows the increasing importance of collaborating within and between organisations, underlining the need for unified communications. The digital networked economy is enabling companies to create new business models, utilise global resources and work in real time with people anywhere in the world as if they were in the office next door. This erosion of the traditional barriers of time and distance means that the ability to partner and work effectively is more important than ever to achieve success in the global competitive environment.”

The global business landscape is evolving and so too must communications. BT’s video conferencing systems transform the nature of business activities that traditionally rely on travel. In many cases the reductions in travel time and costs can be far outweighed by potential gains in increased productivity and efficiency.

Read the complete Press Release