Many industry experts are predicting that the business travel industry as a whole will shrink in the face of advanced telecommunications technologies. Cisco, for instance, reports that it reduced its travel budget from $740m to just $240m by using video conferencing (VC) systems. Another company that used VC technology effectively was global architectural and design firm Woods Bagot, which saved $440,000 on travel costs alone in just one year as part of a pilot program to connect its Sydney, Dubai and San Francisco offices with video collaboration technologies.
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