VoIP to carry a half of all financial services business voice traffic within ten years, according to Telindus research

...But commercial viability of convergence still needs to be understood...

Odiham, UK, 19 October 2005 - Nearly a half of British financial services organisations have either implemented or trialled VoIP, but the majority (51%) have yet to take the plunge, according to research commissioned by network services provider, Telindus. Despite this, 61% of financial services IT managers believe that VoIP will be carrying at half of all UK business voice traffic within ten years.

Amongst the early adopters, 71% of financial services organisations gave cost saving as a reason for implementation, followed by wanting to improve productivity (52%) and wanting to enable a mobile workforce (38%).

Ian Shepherd, Business Solutions Manager, Telindus, comments, "The benefits of VoIP/IPT are certainly being realised by the financial services sector - EMEA-wide, Telindus has over 110 IPT customers, with 30,000 IP phones in use daily. Reduced call and infrastructure costs and enhanced functionality are
driving adoption, as businesses seek greater productivity and mobility."

Although over a third of those not already implementing VoIP/IPT said they are planning to do so, one in ten of those surveyed feel there is no need for VoIP/IPT in their organisation. Other perceived obstacles to take up include:

* Waiting for the market to decide which is the best system (21%)
* Think it's too expensive (18%)
* Unplanned downtime and reliability still an issue (12%)
* Speech quality not consistently good enough (6%)


Whilst 60% of financial services IT managers believe that the convergence of
networks is already commercially viable, almost a quarter do not - two-thirds because they believe it costs too much. Other perceived barriers to adoption are:

* Lack of understanding and technical skills needed to implement it (64%)
* Quality of Service and unplanned downtime (64%)
* Security (50%)

"Convergence is happening. 60% of financial services organisations believe it is viable and we've seen from our client base that it does lead to real business benefits," says Shepherd. "With the right processes and SLAs, a converged network can help CIOs and IT managers deliver vast improvements to the business in terms of flexibility, manageability and Total Cost of Ownership, as well as give them the ability to support applications that can
deliver competitive advantage."

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development