Various businesses in the financial sector prefer audio, web and video conferencing to other modes of meeting, according to a self-funded survey of Brockmann & Company Such businesses in the financial sector include Finance, Banking, Legal, Insurance and Real estate.  

For the study, Brockmann & Company analyzed the role of face-to-face meetings and audio, video and web conferencing when it came to conducting business in these categories.   As an important tool for business success, conferencing in any form takes about 25 percent of the time of the people involved, says Peter Brockmann, President and Research Director of Brockmann & Company.   Even though frequent conferencing is not linked with job performance it is an important business communication tool for finance businesses.  

Among the modes of conferencing, face-to-face meetings still account for half of all the time spent conferencing with more than two persons, the report found.     The following are some of the other findings:

Audio conferencing is the most important conferencing service, even more important than face-to-face meetings

Half of the respondents would rather pay $83.33 to attend a video conference than drive 40 miles to a face-to-face meeting

Better video conferencing quality is the most important factor in decision about video conferencing