Businesses use conference calls daily to meet with remote parties, both internally and outside of their company. Common applications are client meetings or sales presentations, project meetings and updates, regular team meetings, training classes and communication to employees who work in different locations. Conference calling is viewed as a primary means of cutting travel costs and allowing workers to be more productive by not having to go out-of-office for meetings.
Conference calls are used by nearly all United States public corporations to report their quarterly results. These calls usually allow for questions from stock analysts and are called earnings calls. A standard conference call begins with a disclaimer stating that anything said in the duration of the call may be a forward looking statement, and that results may vary significantly. The CEO, CFO, or Investor Relations officer then will read the company's quarterly report. Lastly, the call is opened for questions from analysts.
Conference calls are increasingly used in conjunction with web conferences, where presentations or documents are shared via the internet. This allows people on the call to view content such as corporate reports, sales figures and company data presented by one of the participants. The main benefit is that the presenter of the document can give clear explanations about details within the document, while others simultaneously view the presentation.
Prepaid conference call services allow businesses and individuals to purchase conferencing services online, and conduct conference calls on a pay-as-you-go basis. Typically, a conference call PIN and its associated calling instructions are displayed immediately online after being purchased and/or sent via email. Generally, prepaid conference call services are used with a landline telephone, mobile phone, or computer, and there is no need to buy additional expensive telecommunications hardware or add/switch long distance service. Some services allow you to start or join a conference call from virtually any country worldwide—with appropriate telephone access.
Large telecommunications providers such as AT&T, Embarq (formerly Sprint), Verizon and other large to medium conferencing service providers maintain a dominant position in the conferencing niche; servicing many of the World's biggest brands. However, the Internet and improved global VoIP networks have helped to significantly reduce the barrier of entry into this niche.
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