2020 upward trend: Hosted phone system for SMEs

Introduction: Business phone systems encompass a plethora of features that can change the trajectory of small businesses. The fact is – cloud-based phone systems offer tools to small businesses that earlier only tech-giants could gain access to. The reason was clear and simple- the capital required to install the essential equipment. Cloud-based PBX has changed that, it not only offers incredible benefits such as unlimited calling, voicemail to email, call recording, call forwarding, call queuing, automated attendants, video conferencing, etc, but also doesn’t require you to spend a fortune. 

2020 Upward Trend

The number of businesses zeroing in on virtual phone systems has spiked up tremendously in recent years. But 2020 has been the most defining year so far and has witnessed some incredible trends. The skepticism around cloud-based PBX seems to have faded away. Before we dive into the details, I’ll let statistics do the talking:

  • Research from Statista suggests that the hosted phone systems market has outperformed on-premise systems yet again in 2020. 
  • The study also suggests that by 2024, the VOIP hosted market will surpass $13 billion while on-premise solutions will lag behind and remain at $9 billion.

For 2020, the security of cloud-based systems will be the point of focus. Another interesting 2020 trend is that there will be an exponential increase in the number of service providers offering built-in CRM (Customer Relationship Management) solutions. 

What drives the trend of adopting hosted phone systems?

  1. Upfront Deployment Cost: 

All businesses irrespective of their stature/sizes opt for tools and mediums that saves them cost, time, and effort. This is the primary motivator for businesses inclined towards Cloud-based PBX. There’s no reason any business would not choose the infrastructure like hosted phone systems that slash operational costs and capital investments without compromising on quality and efficiency. This is the time like never before wherein small businesses can gain access to incredibly functional phone systems without having to pay hefty upfront costs. 

  1. Flexibility and Predictability: 

Most of the small businesses swear by predictability especially in the initial days. No one wants to be trapped in an unpredictable major monetary setback at the end of each month. Hosted phone systems handle that for you. They come with a fixed month-to-month subscription price based on your budget and requirements. The cloud-based PBX service providers work on tailoring the service plans for you so that you pay only for what you actually leverage. The costs will be fixed and known to you in advance in the contract so you’ve to face no unpleasant surprises. 

  1. No need for a Dedicated staff: 

So, this is a fact that is applicable to all small businesses – they do not want to carry unnecessary monetary burdens. And if they can do without the high costs and still top the charts, what could be better? Hosted-PBX systems require no dedicated staff to manage them, which means you save the expenses of having an in-house team. No complex setups, no confusing working, no expertise, you need nothing to start making your first call with a cloud-based PBX. Your service providers will handle all the management and you don’t even have to worry about the maintenance and troubleshoot issues. Updations, maintenance, or issues – leave it all on your service provider. 

  1. Scalability: 

You can never be too sure about the needs and requirements of small businesses. It is common for start-ups to experience exponential and rapid growth in a particular period of time. Likewise, they may at times also want to shrink their business and support another parallel. Cloud-based PBX has the ability to handle this scalability. Once you adopt these systems, you can add new phones, new phone lines, or extensions whenever you want. You can also shrink back depending on your requirements. Virtual phone systems strongly stand by – one size does not fit all. So, whether you have a staff of 10 individuals or 1000 individuals, hosted PBX is the best bet for you. 

  1. Uncompromised availability: 

As more and more individuals adopt the remote economy, businesses need to be ready for the shift. Working from home, on the go, or anywhere in the world is no longer a luxury, it has practically become a norm and necessity. And hosted PBX systems support this change. They allow your staff to work from any corner of the world and that too from multiple devices (laptops or even smartphones). Also features such as one number reach, instant messaging, CRM integration, and more contribute fully to unified communications. 

Conclusion: Small businesses absolutely need to make Hosted PBX systems an essential part of their infrastructure. The statistics and wide adoption of these systems in recent years answer why. For a matter of fact, the businesses who’ve already adopted it are growing by leaps and bounds. And there’s no reason you’d not want to stay ahead of the curve. 2020 is the ripest year for business phone systems, leverage it now!

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