VoIP stand for Voice Over Internet Protocol. In simpler terms, it just means 'talking over the internet' instead of using a telephone.
This technology has been around for a number of years, but most people are still new to its advantages, especially as it relates to business use.
VoIP is growing as a medium for corporate communication - having meetings, providing training, etc. - due to its cost-reducing qualities and general ease of use. It's recent rise as a favorite application among business users is it's use of video as well as sound. You can converse with people - and see them on video - all through your computer.
With the advent of GoToMeeting.com, Skype, and FaceTime, people can have seamlessly interactive meetings with people across the the country or across the world at the touch of a button.
It all begins with a subscription, continues with an invitations and ends with both parties sharing the same information without leaving their office.
It works because the voice and video data is sent over the internet to the other viewers and shown as a video feed or just audio, similar to a phone call.
The common useage of VoIP is for holding meetings and doing training or teaching. Instead of flying from Chicago to a distant location, you can spend much less time, money and effort by holding meetings through a VoIP connection.
With internet commuinication services being as reliable as they are, and higher phone and transportation costs on the rise, using VoIP is a natural choice, especially for smaller businesses or budget concious businesses.