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Computer software Voice over IP (VoIP) is a technology that is really starting to take off. With Microsoft buying Skype, a well known VoIP software application, for a whopping $US8.5 billion, you can tell that it is now a great technology for companies to invest in.
For those that are not exactly technologically savvy, VoIP technology allows you to communicate with another person through voice or video over IP Networks (such as the Internet) rather than a typical telephone network. This comes with many advantages. Many features, e.g. call forwarding, conference calling and automatic redial, that typical telephone companies usually charge extra for are available for free on some open source VoIP implementations.
The technology is also much more flexible, allowing you to transmit multiple calls over a single Internet connection and its integration with other Internet services such as data exchange, audio conferencing and video conversations.