Why Businesses Need Broadband

According to the Inter-American Development Bank, broadband access increases company productivity and allows access to more and better information helping decisions to be made efficiently and at less cost.

Friday, October 3, 2014

From a statement issued by the Inter-American Development Bank (IDB):

Companies that have adopted broadband operations have increased their productivity by 10 percent on average, according to the McKinsey Global Institute. The report provides an in-depth analysis of eight business models that serve the BDP in Africa, Asia and Latin America, and concludes that companies can leverage broadband connectivity to include this population in their value chains as customers, producers, or employees; and provide them with the following benefits:

FIRST: Better information at low costs. Broadband provides users at the base of the pyramid with better information and connection to the world, while transport costs are minimized. Additionally, broadband enables real-time interaction between users of the BDP and the rest of the world, bringing experiences or remote services closer.

SECOND: Broadband helps increase competitiveness. Broadband empowers small franchises and shopkeepers in improving the diversity, quality and competitiveness of their products and thus improve their income.

THIRD: Banking services are more accessible to the BDP. An average of 35 transactions per day are conducted in small shops linked to the Barared network, enabling BDP customers to do their banking closer to home and in a cheaper way than at a commercial local bank.

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