The use of the internet and other local-area networks (LAN) is rapidly becoming the norm for business telecommunications. Businesses are increasingly turning away from using traditional phone lines to make and receive phone calls. These businesses are instead using data connections to transmit and receive phone messages; this is known as Voice over Internet Protocol or VoIP for short. One of the primary reasons that businesses have switched to VoIP is because call rates are lower with VoIP than with traditional phone lines; businesses have lower monthly phone bills which thereby saves them money. The global VoIP market has seen a year-to-year increase in growth over the past few years and is projected to surpass a revenue of $190 billion by 2024.
Technological tools and applications have been developed over the past several years to streamline and optimize business processes and functions. A key function that has been significantly transformed as a result of technological advances is business communications. More businesses are making the transition away from using traditional phone lines and instead, use the internet to make as well as receive phone calls. This technology that offers businesses the ability to exchange calls over the internet is known as Voice over Internet Protocol (VOIP).