Technically, Voice over IP (or VoIP) is the exchange of voice information in digital form, via TCP/IP network packets rather than the circuit-switched telephone network. IP telephony is generally considered a broader definition of VoIP-based services, and usually involves a communications device that is connected to a data network, such as a PC or telephone set.
Like a traditional business telephone system (e.g., Private Branch Exchange or PBX), IP telephony offers typical phone features, such as conferencing, speed dialing, call forwarding, etc.
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