In a recent survey by the Purchasing and Materials Management Services Group on behalf of the Chartered Institute of Purchasing and Supply (CIPS) the cost advantages of videoconferencing over travel were dramatically underlined.

The results of the survey show that using videoconferencing the savings over the cost of actually travelling to a meeting were in the region of 76% when total costs were taken into account.

The survey also shows that over half the respondents admitted that some of their business trips were unnecessary to their work.

Some 69% of those surveyed stated that the enjoyment of experiencing new cultures was the highest rated benefit of business travel. Socialising was rated second in importance. Just 47% said that going face-to-face with clients was what they enjoyed. Interestingly, 15% of travellers acknowledged that business travel actually made them less productive in their jobs (in the UK this figure was 19%).

Savings achieved using video conferencing increase dramatically in line with increases in the number of delegates attending and the distances between meeting points. The opposite is true of air travel.

For example, one person meeting in Chicago and travelling by air would be 73% more expensive than using a video link. If ten people were travelling the potential saving would rise to 95%. The actual cost of transporting ten people to Chicago with associated hotel, time loss and other costs would be in the region of £30,000 – a ten person videoconference for 2 hours would be in the region of £1000.

Very much like a taxi fare videoconferencing costs can be shared by all parties participating. The more people who participate in a video conference the lower the cost price per person.Unlike the increased costs for travel as more numbers fly.

In conclusion the report underlines the very significant savings that can be achieved and the benefit to companies in improving their balance sheet and carbon footprint.