Dr. Ritesh Mukherjee is Vice President - Enterprise at Jio, on a mission to digitize businesses with affordable and secure connectivity.
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Nemo resideo is a Latin phrase meaning, "Leave no one behind." Many branches of the military around the world have adopted it as a pledge. In combat, success depends on the entire unit working together. Selflessness brings out the best in human nature. Looking after your brother-in-arms brings confidence and hope to the entire unit. The same logic should apply to business.
Imagine your hometown or local community without any small businesses. Everything that makes the street unique is lost. Small businesses do more than just provide character and individuality; they are the backbone of local communities. Neighbors supporting neighbors. Friends helping friends. Local businesses create jobs. A restaurant may need delivery services, accounting, legal, finance, groceries, farm-to-table supplies and a host of other services that spur a thriving local economy.
These businesses need to get online and digitize different aspects of their business. If the pandemic has taught us anything, it is how valuable it is to be able to run businesses online. With restrictions in place to curb the pandemic, many small businesses are solely reliant on phone and internet services to continue their operations. Any disruption of connectivity results in significant consequences to the business. The relationship between the telecom operator and a small business is critical to running and managing a small business today.
Analysys Mason’s SMB Technology Forecaster predicts that most small businesses lack adequate IT support to manage changing business demands and an increasingly remote workforce (as well as remote customers) and are seeking guidance from knowledgeable providers. The small and medium business (SMB) segment represents a huge revenue area for telecom providers. It is imperative that telecoms support small and medium businesses by.
Delivering superior connections. According to a report by the Analysis Group, cities that offer broadband at one gigabit per second report higher per-capita GDP compared to cities that lack those Internet speeds. According to Independence Research, U.S. small businesses alone will suffer over $40 billion in lost productivity due to internet outages in 2020. The brunt of the loss will be felt by the smallest businesses that overwhelmingly do not have internet back-up solutions in place. This equates to loss of over $4,500 per year, per business establishment. Telecoms need to do better to provide 100% connectivity along with wireless backups to small businesses.
Lowering telecom costs. In the U.K., small businesses spend £2,052 a year on telecom services on average, with nearly 65% of them considering switching due to poor service. One in four small businesses in the U.S. shut down temporarily due to the pandemic last April. Telecom operators must look at ways to reduce costs to small businesses. As service providers splurge on licenses and infrastructure toward 5G, they must resolve to get low-cost devices and connections for small businesses to truly realize the benefits of 5G.
Improving cybersecurity. USTelecom's 2021 Cybersecurity Survey reports that nearly 59% of small businesses reported breaches that stopped daily productivity. It took businesses five months to fully recover from the breach and 46% reported lost customers. As technology partners, telecom operators need to step up their game to provide stronger cybersecurity measures. They need to not only offer better security mechanisms as part of their offerings but assist with regular risk assessments, cyber insurance and training.
Providing value-added services. Telecoms have made the transition to provide triple-play services typically including internet, TV and phone service. Many have started offering quad-play with mobility and special services like home security. Small businesses can really benefit from the negotiating and buying power telecom operators possess. Operators can bundle CRM, tele-health, surveillance, payroll, tax, accounting, attendance, IoT, cloud and a host of other services to ease the burden on small businesses.
Small businesses have a great impact on the community. For the success of these businesses, it is essential for them to vibe with the community and get online. It is the responsibility of telecom providers to support these businesses by providing affordable and secure connections. Operators need to put small businesses at the heart of their enterprise strategy. Connections that are up all the time and support a variety of services will help small businesses flourish.
Every small business deserves 10x speeds at a tenth the cost irrespective of their size, industry, location or ownership. Leave no one behind. Nemo resideo.
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