Turning technology into profit

Article: Keeping pace with technology or keeping up with the Joneses?

Uptake of broadband services has never been greater, particularly among the business community who appear to have embraced the technology wholeheartedly. Over 50 per cent of smaller companies are now using broadband, but are they really making the most of their investments?

In most cases, I suspect the answer to that question is, no. But this is perhaps unsurprising. Unlike other technology investments, such as customer relationship management or content management systems, broadband is relatively inexpensive and easy to install with virtually no maintenance requirements. As such, many businesses view it as a ‘nice to have’ technology rather than as fundamental to their business, and as a result do not focus heavily on its additional benefits or the return on their investment.

In today’s economy this lack of focus could have serious repercussions, particularly for the small business. Broadband is far more than just a new technology, it’s a new way of communicating which will change the way business is done. A high speed, ‘always on’ internet connection has obvious immediate benefits such as enabling the download of large image files, but this is just the tip of the iceberg.

Broadband enables true e-business, allowing companies of any size to have a professional online presence. It opens up new sales channels, provides access to new customers and new ways to communicate with both those customers and suppliers. This can be achieved through the wealth of applications and services currently available to those with high-speed connections. These range from simple web site creation tools through to a full scale online shop or outsourced applications and support.

With such a wide range of products and services being made available by broadband, businesses are understandably confused. Even if you are a small company with limited resources, it is worth taking the time to consider what benefits these technologies can bring to your business before deciding on your next investment.

Here are a few examples of how to turn technology into business benefits:

• Time savings – automate your key business processes, such as procurement, using services made available through increased speed and bandwidth
• Opens new markets – consider selling online to complement your existing methods of doing business. This will extend your market reach
• Increased mobility – create a more flexible working environment by using broadband technology to enable remote working. This will bring efficiency gains and happier staff
• Simplified IT – take advantage of subscription-based services, offering access, software, servers and support for a single monthly fee, giving small businesses access to the same IT infrastructure as large corporations, without the same risk
• Cost savings – explore new ways of communicating and save on expensive meetings by using a range of business services such as video streaming and conferencing

One of our SME customers that has really embraced broadband and the web as a new channel to market is Scottish tea specialist and coffee roaster The Bean Shop. The company created a national reach from its base in Scotland via a website that allowed it to sell its own roast coffee and blended teas across the UK.

In order to develop the online trading capabilities necessary, the company initially opted for Internet Trader Pack, which allowed it to rapidly build a web presence and the ability to sell through the site. Internet Trader Pack is a complete solution that offers all the tools small businesses need to develop a website, upload images and catalogues and create an online store.

Crucially, The Bean Shop had to ensure that all orders were received and processed quickly, as coffee deteriorates rapidly once ground. Because we could enable the business to accept payment securely through the site, the order process was simplified and sped up as a result.

The Bean Shop is just one of the thousands of small businesses who are waking up to the possibilities afforded by advances in internet technology. 60 per cent of commercial innovation comes from small businesses* and it is only a matter of time before we begin to see increasing numbers of SMEs pushing the boundaries of broadband technology.

These are the people who will drive the development of more sophisticated technology of which broadband is only the beginning.

Find out more about BT Business Broadband.