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SIP Trunking is effectively a service offered by an ISP (Internet Service Provider) that allows businesses to use the same connection for voice traffic (currently via telephone lines) as the Internet connection. This would be achieved via a an interface to a Voiceover IP enabled telephony system.
The key benefits here are cost-savings. In replacing the legacy ISDN telephone lines with more cost- effective SIP Trunks over an in situ Internet connection, there are potentially good savings to be realised. There is also flexibility in terms of telephone number retention potentially outside a geographical location and also cost savings for networked business across multiple sites.