Technoloy Pruning Cost of Business Transaction

In the age of globalisation it is imperative for companies to cut cost. Be it MNC's of the developed, emerging or third world countries. Its survival of the fittest and cutting cost is all pervasive and ubiquitous.

One way to cut cost is by minimising the travelling expenses and communiction bill. This can be achieved through vedio conferencing, web conferencing and phone conferencing in decreasing order of cost and effectiveness. I do agree that face to face communication has it plus points. But once a comfort level with a stakeholder is achieved then one can surely move on to these time and cost saving methods.

Big companies can afford video conferencing, SME's could do with either video or web conferencing and small and tiny sector could do with phone conferencing.

Go on shed the flab and be competitive.