Ultimately, businesses want to know: What will 5G cost, and how long will they have to wait to see bottom-line benefits? When you implement 5G services to your business, you can take advantage of emerging technologies and leverage them through a robust network. In many cases, like connected retail experiences or enabling end-to-end supply chain visibility, the ROI should be realized in the near term.
Take supply chains, for example. 5G can shine a new light on supply chain management, potentially improving visibility and preventing inventory shrink. 5G's low latency and faster throughput can enable improved product tracking and more accurate product location tracking. These benefits represent solutions for the pain points supply chains were experiencing before the availability of 5G.
Often, the only thing preventing 5G from helping your business is the amount of time before you commit to adopting the technology. The longer companies wait, the longer it will take to see the ROI and investment.
For businesses that rely on network-related tasks, access to faster internet means they can work more efficiently. From online sales to working on files on the cloud, tasks can occur more quickly.
Like any critical ROI planning, you'll want to incorporate model building and comprehensive data collection. Finally, when considering how much will 5G cost to implement, remember strategic partnerships are key to optimizing these costs.
Learn more about Verizon's 5G business solutions and how they drive new ideas, products, services and business models.