How Losing Money by NOT Having the Best Internet in Your Area?

A poor internet connection in your organization has several drawbacks. A bad internet connection is more than a nuisance; it may cost you money in the form of lost sales and productivity. On the flip side, having a strong, dependable network might be crucial to your success.

Global data use has quadrupled in the last five years. According to a report published by the International Telecommunications Union, the number of Internet users has risen from 738 million in 2000 to 3.2 billion in 2015. For the foreseeable future, this surge in data usage is expected to continue. Speeds that were considered good enough only a few years ago are now insufficient to run a forward-thinking company efficiently.

Business owners must prepare their networks to accommodate increased traffic. Failure to do so would result in workflow slowdowns and disruptions, which might have a negative impact on their bottom lines. Here are some specific business failures that might occur as a result of a sluggish, underperforming network.

1. Diminished productivity

   Employees can't be expected to finish their jobs when they've been waiting for the network to catch up all day. How much time does your team waste every day waiting for file transfers, attachments to download, and apps and websites to load? The straightforward solution is far too simple.

   Your company's operations and workflow management will suffer as a result of slow internet. Consider Sandisk's 2013 survey, which found that the typical employee loses one week per year waiting for their company's network to react. Multiply this loss by ten, twenty, or one hundred employees.

   How much productivity are you losing because your company's internet is slow?

2. Poor employee morale

   Consider the employees who are awaiting a response from the network to complete their tasks. They come to work with the expectation of doing a lot, and they want their bosses to give them the tools they need to execute their jobs effectively.

   When a network is sluggish, it creates a lot of irritation and lowers staff morale. Employees get demotivated as a result of this. The number one end-user issue, according to a recent Deloitte study of Australian workers, is sluggish internet. Employee complaints and morale are likely to grow if your company's network is sluggish.

3. Revenue takes a hit

   Slow internet causes lost revenues in addition to your workers' inability to complete their tasks. For example, if your company's CRM system is slow, your customer experience would almost certainly be harmed. What happens if your customers learn that your competitors' networks are more efficient, allowing them to reply much faster? Profits are lost.

4. Decreased response time

   

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   Employees can't be expected to do their job when they're waiting for the network to catch up and programs and websites to load all day. If a page does not load in three seconds, 57% of users would quit it, and a 1-second delay in response time might result in a 7% drop in conversions. Businesses must have a stable internet connection that allows them to respond quickly to consumer requests.

5. Operational failure

   Employees require access to the internet to do research, send emails, and use cloud-based apps. Users will be unable to accomplish any of this if they do not have access to the internet, which will result in operations being halted. Worse still, every second your staff is idle due to lack of access to mission-critical technologies, your firm will lose money.

6. User frustration

   What could be more aggravating than a sluggish internet connection? According to a Deloitte report, it is the leading cause of employee dissatisfaction in the workplace. Smaller companies, as well as multinationals, face web stress due to a sluggish and inconsistent connection. In comparison to enterprises that provide high-speed internet connections, coffee shops, for example, will be at a disadvantage. Customers who want a fast Skype chat with their daily caffeine dose may be put off by poor internet speeds.

7. An unreachable cloud

   What use is a cloud that you can't get to? With 87 percent of businesses trusting the cloud for at least one mission-critical job, it's vital to have secure access to the technologies that keep your company running. A robust connection is required for cloud-based apps such as Google Drive, Microsoft 365, and POS (Point-of-Sale) systems, thus a company without one may be at a severe disadvantage. A dedicated fiber connection can assist if poor internet is causing downtime, while a managed cloud connection can offer even more stability.

Wrapping up

Consider what would happen if your firm ran an e-commerce site on a sluggish internet connection. Part of Google's search results is based on load speed. If your website takes too long to load, it will lose page rank, online traffic, and income. Customers aren't going to wait for your pages to load. Instead of clicking away from your site, they'll go to your competitor.

Has your business been harmed by sluggish internet transmission and excessive latency? If this is the case, now is the time to address the problem.