The Real Business Cost of Slow Internet

Is a sluggish internet connection damaging your business’ bottom line? How much is it also costing you in lost employee productivity? These are two simple questions that are often overlooked when businesses select an internet connection. Waiting for webpages to load or for emails and files to download can actually cost your business money in lost productivity than the internet connection itself – especially during times of peak periods and heavy usage.

Loading Time = lost time, lost money

Let’s use the first example – waiting for webpages to download. Imagine if you have ten employees that are waiting an average of 15 minutes a day for webpages to load or crucial files to download. That’s 15 minutes’ x 10 employees = 150 minutes or two and a half hours each day. Assuming the average wage is $25/hr, this costs your business $62.50/day. Add this up and it costs $1,250 per month!  You can’t get that time back, especially if your business is dependent on network connectivity for apps such as cloud accounting or CRM (customer relationship management) systems.

Slow Internet is poor customer service

If you run a customer-focused business, your customers could see slow internet as poor customer service. If customers need to wait longer for responses or can’t hear or see you properly using video conferencing; customers could lose confidence in your business.

When it comes to suppliers or business customers, slow Internet stifles collaboration. Video conferencing, screen sharing and remote access is near impossible with slower connections. This might mean employees need to travel to accomplish simple tasks, another cost in time and money you can’t get back. Worse still, it could cost you when you’re trying to win new business.

If you work in the hospitality industry, slow guest Wi-Fi (especially if they’re paying for it) may cause complaints, especially among corporate clients who need a fast connection to do business for themselves.

If your business can’t rely on its internet connection to conduct business, it most definitely costs your business.

A faster internet connection is a solid business investment

Business should view high-speed broadband connections as an asset, not a liability in general terms. Faster internet speeds not only improve productivity, recouping those “profit holes” mentioned earlier, but also opens up more possibilities for growth and innovation.

Employees can work remotely on a connection that’s stable and quick. With a good enough connection, it’s as if they’re working alongside colleagues in the office. They can use mobile apps in the field to make payments, automate their sales and reduce administration workloads. This all contributes to a stronger bottom line.

Spend “lost” money on better internet

Broadband Solutions have helped hundreds of businesses from small businesses to large enterprises across a number of industries such as hotels, education and hospitality to connect them to the internet. We’ve helped them get the right high-speed, reliable, business-grade internet connection and tailored it to their specific requirements. A modest investment in a quality internet connection can pay dividends in higher productivity, increased trust from customers and open up new avenues for innovation and business growth.

Broadband Solutions’ Fibre for Business plans offers a secure, dedicated, and uncontended link; 24×7 monitoring of latency, connection quality and bandwidth use; we guarantee our service with a 99.95% Service Level Agreement; and many other features. For more information, contact us today.

Last modified: August 24, 2016

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