Today’s businesses face more challenges than those from just 20 years ago. Operating in a hyper-competitive, increasingly global landscape, businesses today must deal with logistical, communication, and system challenges on a daily basis.

VoIP phones, mobile workers, cloud-based applications - these are just a few of the complex technologies business leaders are expected to handle, and all are dependent on a robust network. The network is at the heart of modern business. It’s where business is conducted and how communication happens. The network is the backbone of a 21st-century business.

So what happens when your network goes down, and businesses can’t get online? They lose money. A lot of it.

According to the Ponemon Institute, an independent researcher firm specializing in privacy, data protection, and information security policy issues, businesses lose roughly $22,000 every minute their network is down. That’s a staggering amount that no business can afford to lose.

Here are just some of the ways businesses lose money and why reliable Internet service is essential.

Cost to Sales

Let’s start with the most obvious: your transactions. When your network drops or even slows down, customers become wary of buying online. You may also experience numerous double billings. That’s an accounting nightmare you want to avoid.

Cost to Customer Service

Your company is only as good as your customers’ perception. When clients cannot receive the help they need due to a downed network, the result is a negative experience, which is often shared out in detail across social media. Don’t let faulty technology turn your greatest asset into your biggest enemy.

Cost to Internal Communications

How many times a week do you teleconference with your sales team, a remote office, or one of your suppliers? It’s important you ensure internal communications are always dependable.

To be successful in today’s business landscape and gain a competitive edge, ensuring a reliable Internet connection is mission critical.

Is YOUR network dependable?