July 10, 2008 - "Big Four" auditing firm Deloitte has inked a deal to equip its 130 offices worldwide with videoconferencing software to cut down on the need for business travel.

Deloitte has contracted with Nortel to use its Teleconferencing Solution for virtual meetings, joining a growing number of global businesses that have turned to videoconferencing as a means of cutting costs and reducing environmental impact.

"Being able to meet clients and colleagues in real time without travel is an efficient, effective, and environmentally considerate way to address their needs," says Yezdi Pavri, managing partner for Deloitte's Toronto office.

Nortel calculates that a company spending as much as $23 million annually on travel can use teleconferencing to recover as many as 385,000 hours of lost productivity, reduce its carbon footprint by up to 4,200 tons, and save up to $7 million.

Nortel and rival Cisco are locked in a battle for the burgeoning videoconferencing market. Cisco - which has pledged to cut its carbon footprint thanks partly to its own videoconferencing solution - recently expanded its offerings to include products for both very small and very large meetings.