<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1083909961693110&amp;ev=PageView&amp;noscript=1">

Don’t underestimate the cost of poor connectivity

William Newton, EMEA Director, will often reference one anecdote to explain the importance of connectivity. The story revolves around a company in New York which was the victim of poor connectivity in its first few weeks of business.

During the first week the air-conditioning system failed in the middle of a heatwave. During the second week the sewage system broke adding a bad smell to the sweltering offices. And yet, the tenants grinned and bore it.

It was only in the third week when a builder cut through the building’s only communications intake and in doing so cut off the WiFi, that the staff accepted defeat and were forced to work from coffee shops until connectivity was restored .

While this is a great example of how poor connectivity infrastructure can impact the user experience, what it doesn’t account for is the potential cost that an internet outage can have on a company.

And the cost is staggering.

Research from Ontrack recently identified that one hour of interruption of a website generates financial losses of up to 6.5 million euros for an online bank, 2.6 million euros for credit card payment system, 110,000 euros for a mail order company, and 90,000 euros for a ticket booking office.

These costs can have a lasting impact on a company’s profitability. The same source found that 93 per cent of companies that lost access to their database for 10 days or more went bankrupt the same year.

For customer-facing organisations, the cost can not only impact the sale missed in the moment that your services weren’t accessible, but it can also damage the company’s brand significantly - with some potential customers unmotivated to return to the site.

With digital technology permeating businesses of all sizes and across all industries, every company needs to ensure the stability, availability and performance of connectivity in their office space.

These are the characteristics that guarantee the best level of connectivity and every company is entitled to demand reliable internet.

Internet connectivity is the fifth utility. In this respect, as with electricity or telecommunications, it must become subject to certification standards, in order to guarantee tenants of office buildings an optimal and continuous internet service.

Marie Escaich Marie Escaich
  • Is new communication technology actually holding us back?
  • Digital connectivity is establishing Ireland as a European hub for business
  • Up next: Smart Dublin
  • London cannot rest on its laurels if it wants to be a digital leader
  • William Newton and Tom Redmayne declared “major power players” in EG’s 2017 Power List
  • Enhancing the price of real estate: the value of connectivity
  • Wellness in the Workplace
  • Connectivity is key as G20 commit to internet access for all
  • Introducing this year’s Young Property Personalities… William Newton and Tom Redmayne!
  • WiredScore receives Real Business Top 50 Award for innovation
  • From London to Berlin: European perspectives on connectivity
  • MIPIM 2017: The year of tech
  • Boosting productivity by future-proofing offices for the tenants of tomorrow
  • WiredScore's Director of France discusses future of women in Proptech
  • Connecting the UK's regions
  • Don’t underestimate the cost of poor connectivity
  • Smart cities need strong foundations
  • The case for 5G is a compelling one, but needs careful planning
  • Internet connectivity: an insight into the needs of today’s UK businesses
  • Improving connectivity: a priority in building the Northern Powerhouse
  • The Chancellor wants to make the UK a "world leader in 5G"
  • The three "must haves" on your tenants’ connectivity wish list

Let’s Get Connected

Sign up for updates from WiredScore

Join our email list for exclusive updates on the CRE professionals, companies and buildings that are innovating and redefining CRE tech.