In the corporate world, there are actually two different meanings attached to the term conference calls. One addresses the technological aspects, while the other is more concerned with financial matters. Both definitions of conference calls are very important when trying to conduct business over vast distances.
The first definition of conference calls should be very familiar to those who spend at least part of their day attending business meetings. Before the advent of modern telecommunications, if an executive from New York wanted to discuss a new project with engineers in California and salesmen in Chicago, he or she would have to book a meeting room, pay for room and board, arrange for travel and hold marathon work sessions for maximum benefit. As long-distance communications improved, the concept of conference calls became more and more appealing.