Why Internet Speed Matters to Business

The Internet has totally transformed every area of our lives and none more so than the way we do business. Internet speed has come light years since the days of ultra-slow modems and dial-up connections. These days, it is vital for companies to [have bandwidth monitoring] to be able to perform all their online operations at lightning-fast speeds. From unreliable video conferencing to jeopardized data security, slow internet can have major negative consequences.

Here are some reasons why internet speed matters to the business.

1. Information Exchange

All businesses these days have a huge amount of data which needs to be shared and exchanged between department, employees and with customers and business partners. There are few things more frustrating than waiting hours for an information exchange due to slow internet. We all remember the days of downloads taking days, but that was supposed to be a thing of the past now that we have ultra speed broadband and fiber optic cables.

If your business’s download or transfer speeds are slow, do a bandwidth tester to see if you can find out where the holdup is. This may tell you whether it is a problem with your connection itself or whether you just have too much data which is slowing down the whole system.

2. Uninterrupted Video Calls

Video calls and online meetings are now such a key part of business communication. Zoom and similar software and apps are being used by businesses around the world to stay in touch with their international clients and associates, and for employees to have meetings during Covid-19 lockdowns. Slow internet can cause interruptions during these calls or even result in the call being dropped altogether. As we move forward into the post-Covid future, it seems certain that business meetings and conferences will continue to be conducted over the Internet so make sure your business has a fast connection.

3. Data Protection

If you are working on an online document on Google docs or another platform and your business’s internet is slow, the document may not be automatically saved and you could lose everything which you have done. These days, businesses have so many documents that it is better to store them on an online drive like Google docs or on a cloud platform, versus having them all on your computers’ drives which can slow your internet further. Data protection and internet speed go hand in hand with each affecting the other, so to ensure that your files and folders are all safe and up to date, address your slow connections immediately.

4. Cybersecurity

We all know how important cybersecurity is for businesses, as a major data breach can put the valuable company and customer information into the hands of criminals. Top of the line cybersecurity requires a fast internet connection to adapt and update in real-time to defend from the ever-changing cyber threats. Hackers and their programs are incredibly sophisticated and without high-speed internet powering your cybersecurity, you are leaving your business at serious risk of a costly attack.

5. Payment Protection

Providing your customers with a secure way to make online payments to your business is one of your most important responsibilities. Your customers are trusting you with their most sensitive payment information and if anything happens which puts their information at threat, it can be a huge problem both for your customers and the reputation and legal status of your business. When an online payment is being made, if the system suddenly loses its connection or the speed drops significantly, your customer’s payment page could refresh or the transaction could go through without them knowing. This could prevent a payment from being made or result in your client paying twice, both of which could seriously jeopardize your relationship with your customers.

6. Customer Service

As well as payments, there are other ways in which slow internet speeds can negatively affect customer service. If your website has chatbots but they are running with slow internet, your customer’s queries may take a long time to get a response. Similarly, if a customer calls to discuss a product or service and your online call center is running slowly, there will be a bad connection which will be very frustrating both for the call operator and the customer.

Without fast internet, businesses are certain to get left behind their competitors. Slow internet speeds can put business data in jeopardy, frustrate customers and affect payments. If your business’s internet speed isn’t up to scratch, take a bandwidth test and consider freeing up space on your systems by storing your data online.