Remaining connected, and having connectivity as a business, is one of the most fundamental ways to ensure a business’ success, especially in the age where most businesses are operating with some sort of technological influence. Recent findings by TeamViewer, a leader in digital connectivity solutions, show a clear correlation between technology connectivity and business performance.
Their study shows that a third of businesses with excellent connectivity tend to lead in their industry’s financial standings, and 61% of these businesses report and confirm that such connectivity is, indeed, what sets them apart from the competition.
How Connectivity Impacts Operations And Cybersecurity
The research compares companies with ‘good’ connectivity to those with ‘excellent’ connectivity. When it comes to operational and cybersecurity performance, companies with the best connectivity report that they perform on the same level as industry leaders.
In fact, 34% of businesses around the world with excellent connectivity report this for operations. What they’re referring to when it comes to operations, is the ability to remain connected and online without constant interruptions, as they have backup solutions should there be any issues. This is a form of risk management, that most businesses should be striving to implement.
Cybersecurity reports a lower rate of feeling on par with industry leaders connectivity wise, both globally and in the UK. The report shared, “25% of UK businesses believe that they are among the leaders in their sector for cybersecurity performance, meaning the UK has the lowest faith in its cybersecurity performance across all countries surveyed.”
“It’s clear from the research that connectivity isn’t just about driving workforce productivity and efficiencies. The approach of shifting connectivity from a supporting role and cost centre to one that empowers the business has an impact on growth, and ultimately revenue.
“Fragmented systems blunt competitive advantage so just being good is not good enough when it comes to connectivity. Businesses need seamless integration and harmonisation of data to fully realise the opportunities that technologies like augmented reality (AR) and artificial intelligence (AI) bring,” said Mei Dent, TeamViewer’s Chief Product and Technology Officer.
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What Are The Barriers To Achieving Better Connectivity?
The studies reveal that that internal departmental differences and struggles to prove the return on investment (ROI) in technology, on top of cybersecurity are the biggest aspects getting in the way of some businesses achieving better connectivity.
Dent advised, “There is a long way to go for companies to achieve seamless connectivity, but the benefits far outweigh the initial investment of time and resources. Doing nothing also has a cost. With many struggling with increased competition and a lack of skilled labour available, organisations need to do all they can to attract and retain the best talent. And one way to do this is to offer a working environment with integrated systems and connectivity that makes it a great place to work and thrive in their careers.”
How Does Connectivity Impact Innovation And Customer Interaction?
80% of businesses noticed improved customer interactions through better connectivity, and 81% found it boosted their innovation capacities. This shows that effective connectivity is not just a backend improvement but a front-facing advantage that touches every aspect of the business, from customer service to product development.
This investment is also good in the long run because on top of the immediate operational needs of a business, connectivity helps attract top talent. Simply put, a tech-forward, qualified worker would not opt for a company without infrastructure that supports their qualifications and abilities. Adding to this point, 86% of the surveyed leaders believe that excellent connectivity is key to keeping their already established teams engaged and committed.
What Else Do Startups Need To Ensure Success In This Age?
Connectivity may be one of the main ways to ensure success as a startup, but it doesn’t end there. There are many aspects to consider for survival in the digital era. For instance, a company may have excellent connectivity but lack sufficient technological knowledge or skills. It is important for the company to stay up-to-date with the latest technologies and learn how to use them responsibly and efficiently. This greatly contributes to a better chance of success. Offering workshops, training, and policies to support ethical tech use makes for a more tech-ready company.
Another important factor in a startup’s success is agility and the ability to pivot and adapt to the constant changes of this era. It’s one thing to be prepared for current technologies and developments, but the next step is to ensure that the strategy applied is easily adaptable and adjustable for unexpected changes. For example, many companies were affected during the pandemic because there was no plan for how companies would continue to operate under lockdowns and restrictions. Companies that already used hybrid models were not as affected, due to their preparedness for such an outcome.
