Voice recording and voice trading systems have been an integral part of the financial and air traffic industries for many years. Even though 10-year-old turrets may look like outdated equipment to some 21st-century traders, they can still offer excellent performance and serve important purposes.
But does your old voice recording solution cost too much? In order to minimize costs while getting the best ROI, you may want to consider the following points.
1. Repairs And Replacement
Each piece of voice recording equipment has a certain lifespan. Just like a used vehicle, it may start costing you more and more money over time. Meanwhile, some manufacturers may declare the equipment outdated, forcing you to get an expensive upgrade.
According to the experts from Market Communications, you can cut costs on replacement or upgrades by finding third party end-of-life (EOL) services. Experienced EOL engineers can support your old system so you can save on the upgrade/replacement.
2. Learning Curve
If you are spending too much time trying to teach new employees how to work with an old system, you are losing profit. If the learning curve is too high, your employees won’t be able to get as much work done as necessary.
In the modern world of staff being under pressure to get more work done, an additional learning curve can be problematic. Meanwhile, if the new employees you hire are used to working with newer systems, you may need to spend time and money re-educating them. This is often more frustrating than teaching something from scratch.
3. Problematic Communication
If your voice recording or trading system is becoming obsolete, you may be missing new opportunities and falling behind the competition. With the lack of due support, you may have to spend too much time keeping the equipment up to date and …Read More