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IP Telephony is the technology for transmitting voice communications over a network using open-standards-based IP. Enabled by Cisco AVVID (Architecture for Voice, Video and Integrated Data), Cisco IP Telephony solutions use a single network infrastructure for the transmission of data, voice, and video traffic, delivering the business benefits of a converged network (increased productivity, greater business flexibility, and reduced operational costs) to enterprise-level organizations.
With Cisco IP Telephony, you have a comprehensive suite of IP-based hardware and software solutions to choose from that scale to meet your needs. In addition, this suite of solutions can integrate with existing systems to help you migrate to full IP Communications and protect your technology investments.
The Cisco IP Telephony solution has four primary components: 
Infastructure
Cisco IP Telephony infrastructure solutions can support multiple client types such as hardware phones, software phones, and video devices, as well as provide options for integrating traditional PBX, voice mail and directory systems.
IP Phones
Cisco IP phones combine the functions of a traditional telephone with an Ethernet connection and optional customizations such as access to stock quotes, employee extension numbers and Web-based content.
Cisco Unified Communications Manager
Cisco Unified Communications Manager (formerly Cisco Unified CallManager) is the software-based call-processing component of the Cisco IP telephony solution, part of Cisco AVVID (Architecture for Voice, Video and Integrated Data). The software extends enterprise telephony features and functions to packet telephony network devices such as IP phones, media processing devices, voice-over-IP (VoIP) gateways, and multimedia applications. Additional data, voice, and video services such as unified messaging, multimedia conferencing, collaborative contact centers, and interactive multimedia response systems interact with the IP telephony solution through Cisco Unified Communications Manager's open telephony application programming interface (API). Cisco Unified Communications Manager is installed on the Cisco Media Convergence Server (MCS).
For more information, please click the following links:
Cisco Unified Communications Manager
Cisco Unified Communications Manager Data Sheets
Voice Applications
Voice applications are physically independent from the call processing and voice processing infrastructure, and they may reside anywhere within your network.
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