Voice over Internet Protocol (VoIP) systems are a cost-effective way to improve business communication, as they are billed at a standard monthly fee. But aside from the monthly bill, your VoIP system will also come with other costs of ownership that you should know about.

Cost is always an important factor to consider when it comes to technological investments. Especially with Voice over Internet Protocol (VoIP) phone systems, you have to be careful that investing in one doesn’t put you way over budget. Even if that phone system comes with a host of features, it’s important that you evaluate not only its upfront cost but also its total cost of ownership (TCO).

TCO is the overall sum of procuring, deploying, and operating a VoIP system over its life cycle, which is typically five years.