1. Improve ROI + Help the Environment by Reducing Travel
Not only are you saving yourself time and money, you're also helping the environment by reducing CO2 emissions when you travelling less.
2. Improve Productivity
Especially if you have offices in multiple locations, computer/video conferencing allows you to schedule more face-to-face meetings with your employees.
3. Education
If you're living in a remote location, video conferencing allows students from various locations to connect and interact virtually with their teacher and classmates as though they were in the same room.
4. Build Rapport
Whether it's a customer, or an interview, there should always be a good opportunity to put a face to the voice (and name)... Video conferencing may not be the same as shaking someone's hand and meeting face to face, but it is definitely a step above e-mail, messenger, or phone only.
5. Increased Collaboration
In medical, scientific, and hospital environments, it allows students, doctors, teachers, researchers, etc to collaborate in a real-time environment in a situation where they would otherwise be forced to pay for travel, meals, and etc...