A PBX is a private telephone network used within a company that connects calls using standard telephone lines. VoIP is a device that makes and manages calls over the internet. You can combine the two.
Is hosted PBX better than on-premise PBX for my business?
It depends what you want from your business. If you prefer to have all your equipment on site, on-premise is better for you. If you prefer someone else to take care of it for you, a hosted PBX system is better suited. Of course, there are other factors that you can look at and compare (see our pros and cons diagram above) but these are the main reasons customers have when choosing between the systems.