Investing in Broadband Can Improve Your Business’s Bottom Line

Is your high speed Internet fast enough to be called broadband? Maybe not, and that slow connection can hurt your business. This year broadband was redefined as a minimum of 3 Mbps upload speed. This means current DSL plans may no longer be called broadband. Paying a little more for broadband can actually save money and add to your bottom line. There are a number of ways truly high speed Internet improves business:

1. Speed Boosts Efficiency

According to a 2014 survey by the Pew Research Center, 94% of jobholders are Internet users. And of those, the majority—54%—say the Internet is important to doing their jobs. Time is money; employees’ time spent waiting for pages to load could cost thousands of dollars per year in productivity.

2. Speed Alleviates Stress

An estimate from the World Health Organization suggests that stress costs American businesses $300 billion annually. Why add to your own, your employees’, or your customers’ stress level with a tediously slow internet connection?

3. Broadband Supports Multiple Users

When you have multiple users your Internet speed can slow down because the total bandwidth is shared between them all. If your business is trying to get work done with multiple users doing multiple activities and running multiple devices at the same time, a slow speed of 10 or 15 mbps won’t be nearly enough. The solution is simple: get a faster plan. If you share a high-speed broadband connection you will very rarely notice additional computers.

4. Fast Internet Makes Using the Cloud Easier

Many business and tech writers as well as Ronin employees have touted the business benefits of the cloud. Cloud computing means constant uploading and downloading, and that can take time if you have a slow internet connection. Integra found that 45% of organizations cite bandwidth requirements as a barrier to cloud adoption.

5. Broadband Means Faster Uploads

Until this year a service could be called broadband with just 1 Mbps upload speed, but that can be pretty slow. Now the standard is a minimum of 3 Mbps per second upload, and most business plans are substantially more than that.

6. High Speed Reduces Costs

A great example is Voice over Internet Protocol (VoIP), a technology that lets you make phone calls using the internet, for much less than analog lines. VoIP requires a broadband connection. You could also save money by moving some employees to home offices, but of course you will need a broadband connection for employees to use a remote access system.

7. Broadband Makes for Better Collaboration

A better internet connection makes for faster sharing of large files between employees. It can also make for easier and better collaboration between your company and customers or vendors. Lawrence Strickling found that companies adopting broadband-enabled technologies experienced between 27 and 31% revenue increases.

Benefits of higher bandwidths for small businesses are substantial. High speed broadband can be a solution for increased collaboration and efficiency and reduced costs and stress levels.