As used in this context, "features" refer to add-ons to your basic conferencing service. Some companies allow you to customize your features, others bundle them in packages. These can affect the price you pay for conferencing.
Call Recording - Especially memorable conferences can be recorded and filed away safely for later reference. Good for transcriptions, meeting minutes, and reviewing action items.
Online Collaboration - Some software programs allow different participants to present. With virtual whiteboards, a document can be mocked up from one presenter to the next.
Operator Assistance - This feature makes your life simpler, but comes with a hefty price tag. For most small to medium businesses, it may just be worth it for at least one person in the company to learn the ways of conference moderation and saving a bundle.
Here are a couple of features you can't do without:
Call Management - So you've decided to save money and manage your own conference - having the option for touch-tone or online call management is good. Look for companies that include this feature for free.
Moderator Controls – Online, real-time, full-control tools to make sure your conference goes off without a hitch. A good conferencing service will have researched controls that are useful and thrown them in for free.