PBX (Private Branch eXchange)
A phone switch located at the customer's premise. A PBX comes in many sizes, from 2 lines to thousands of phone lines. Common features include an ACD for call distribution and IVR that can process incoming phone calls prior to routing to call stations. Many PBX's support outbound dialing protocals such as autodialing, progressive dialing and predictive dialing. A PBX usually has many more features than a standard phone system.
A Virtual PBX is one that can not only distribute calls to local stations connected directly to the phone system, but can also connect remote stations including satellite offices and work from home agents. Using VOIP, remote agents can work from home and still be connected to the office phone system to perform both inbound call handling as well as initiate outbound calls.
Virtual PBX systems for 800 number are being commonly used for SMEs (Small and medium enterprises) as it is cost effective. Features of virtual pbx include call forwarding, voicemail, call hunt, IVR, dial-by-name, notifications etc.

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