Virtual meetings have paved the way for cost-effective and streamlined communication in the corporate sector. However, many people are sceptical about holding online events instead of meeting in person, which is vital in maintaining the 'human touch' in business. Undoubtedly, companies reap tremendous benefits by hosting a remote meeting, as it can successfully eliminate the costs associated with venue rental, hotel rooms and transportation. In spite of cost savings measure, the fact remains whether alienating people from each other for monetary benefit is a wise decision or not. Online business meetings are extensively used in Singapore, where many large enterprises have set up their Asian head offices. Likewise, it also has many small and medium businesses (SMBs) which are engaged in trading with foreign companies. Organisations based in this country set up virtual conference to liaise with their business associates and allow their professionals to network with potential leads. Hence, it can be said that overheads and operational costs can be lowered substantially in the corporate sector by holding remote events. One of the biggest advantages of conferencing is that it enables people in different time zones to work with each other regardless of their locations. However, different time zones can also be a disadvantage for many, as some group members may find the time to be unsuitable. On the other hand, all parties involved in physical meetings do not experience this inconvenience as they have to travel to a common venue. Face to face meetings are considered as the best way of negotiating contracts, with many companies sending their personnel to other locations to close important deals. However, video conferencing allows professionals to maintain visual contact even while working remotely. This becomes a cost effective solution for many organisations, though old school thinkers still believe that it is important that significant deals should be signed in person. According to them, meeting someone in person enables them to gauge their body language and understand their associates better. Nevertheless, this need of seeing someone's body language has been fulfilled with telepresence. Telepresence is the pinnacle of video conferencing technology; it renders the participants with the feeling that they are in the same location with the help of the latest advancements. Such solutions are quite expensive and used sparingly by leading organisations based in Singapore. In recent times, some companies have come up with cost effective telepresence solutions which deliver the best conferencing experience within a limited budget. These solutions are expected to bring high quality video conferences within the reach of the small and medium sized Singaporean companies that wish to communicate with their associates 'in person'. In conclusion, it is important that companies work towards adapting the best virtual conference products to streamline their communication operations, but also maintain the 'human factor'. Thus, they will be able to ensure that they enjoy a unique blend of technology that accommodates the need to meet people in person while bringing down costs and improving productivity.
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