IP (Internet Protocol) PBX (Private Branch Exchange) is a business telephone system that deliver voice over a data network and interoperate with the normal PSTN(Public Switched Telephone Network).
Voice over Internet Protocol(VoIP) gateways can be combined with the traditional PBX functionality enabling businesses to managed intranet to reduce long distance expenses, enjoy the benefits of a single network for voice and data and advanced Computer Telephony Integration(CTI) features or it will be used on a pure IP system give advantages of greater cost savings, greater mobility, and increased redundancy.
An IP-PBX can be a hardware or software system.
it is use for analogue use.
IP-PBX functionality
it is being provided in software, it is inexpensive in cost and easy to add additional functionality, such as conferencing, XML-RPC control of live calls, Interactive Voice Response(IVR), text to speech/automatic speech recognition(TTS/ASR) , Public Switched Telephone Network(PSTN) interconnection ability supporting both analogue and digital circuits, VoIP including SIP, Inter-Asterisk eXchange(IAX), H.323, Jabber, GoogleTalk and others.
Reference From: http://en.wikipedia.org/wiki/IP_PBX
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