How can new communications tools cut costs?

Better mobile wireless coverage could mean more money if your business takes advantage of it. See more banking pictures.
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It's one of the most fundamental questions every business owner faces: how to cut costs in order to ensure maximum profits. Lots of minor and major actions can improve the fiscal fitness of an operation; for example, a company might use fluorescent lighting to cut the power bill or have workers telecommute to save money on office space. Depending on a company's needs, management might even consider upgrading to newer generations of communications technology that often offer vast improvements over earlier incarnations.

Such improvements are twofold. First, new networks are increasingly capable of better handling many companies' growing bandwidth demands; second, new devices are better able to maximize the capabilities of these new networks.

In many parts of the world, the best wireless communication systems currently available are based on 3G (third-generation) wireless technology. Fourth-generation or 4G networks are already in the pipeline. The main advantage of these new systems -- 4G in particular -- is that because of innovations in the way they deal with data, they consume less bandwidth than older technologies. Lower bandwidth usage means the networks have quicker transfer rates. This not only helps reduce operating costs, it also boosts productivity and brings into play the possibility for additional applications -- both of which can save businesses money and help defray the expense of upgrading.

On the next page, we'll take a closer look at some new and future communication tools that a business can use to boost its bottom line.