Time and money are your most valuable resources when running a business in today’s digital transformation age and operating with outdated technology drains both. So, if you’re trying to justify using legacy hardware, make sure you understand what’s at risk – and what solutions are available to help you get into the most updated technology in the most affordable way.
THE OLDER IT IS, THE HARDER TO UPDATE
Often, outdated devices get to the point they are no longer supported and won’t allow you to update. They often even run out of storage space or slow up to the point they can no longer run certain programs. In addition, missing even one security patch can open your company up to escalating cybersecurity threats.
Also, if you are not replacing or upgrading software and applications all along as recommended by the vendor when the time finally comes that you are forced to upgrade, you will usually end up paying much more than vs. upgrading all along because, in addition to the cost of the upgraded licensing, you may also incur migration and installation costs.
DATA LOSS AND SECURITY
Your operating systems, applications software, and even hardware are only as safe as its most recent software update. Updates to hardware and software applications are crucial to the security of your network. Using outdated software will leave you vulnerable to cyberattacks and put you at risk for data breaches or ransom attacks. From a security perspective, businesses that cut corners on updating technology stand to lose a lot more than they gain.
We’ve all been there: the battery on your current laptop steadily starts to decline. You’re constantly having to dismiss messages about running on storage space. It’s not long before your machine’s constantly being repaired and cleaned up to keep it moving.
Those small enhancements – a new battery here, added memory, or an external hard drive there – can start to add up. Plus, minor improvements only go so far. Since most machines don’t make it easy to extend the life or capacity of critical components like internal hard drives, most repairs are just inefficient costs. Dependent on the age of the machine, it is often more economical to simply invest in a new device than finance continual repairs.
EFFICIENCY AND PRODUCTIVITY + MORALE
You’d be surprised how much those short, intermittent device glitches add up. Battling constant hardware and software issues or waiting added seconds or even minutes to load programs will influence employee productivity and efficiency. Staff may find themselves spending more time navigating simple administrative tasks than they do with other more valuable obligations. In fact, the average employee loses 22 minutes each day on IT-related technology issues (according to Design Rush). Not only does outdated tech hinder productivity, but it can also lead to decreased morale.
On the upside, “having effective solutions for IT issues in place increases job satisfaction — 92% of employees say having technology that helps them do their job efficiently makes them happier at work,” explains workforce and human resource management leader UKG.
Outdated tech will make it increasingly difficult to compete with those who are taking advantage of the latest trends and technology advancements. Using patched-together solutions, or workarounds limits your ability to successfully respond to the changes in the market. Microsoft conducted a study and established that more than 90% of consumers would consider taking their business elsewhere rather than working with a company that used outdated technology. 57% of consumers agree that businesses that use modern technology are more competitive in the marketplace. 68% of consumers think the use of modern technology is critical to the success of a business.
Develop a strategic technology roadmap that incorporates the technology that you have in place today, and the schedule for reliable & consistent upgrades and maintenance.
Enlist the help of a managed service provider, like Braver, and get expert guidance on where you can maximize your spending or help you find new technology like Cloud solutions, eliminating many of the concerns businesses may have to keep their equipment updated. Cloud solutions eliminate a considerable amount of hardware needed to run your network.
Talk to your accountant, as technology is no longer considered a capital expense. Instead, it becomes an operating expense and, in many cases, results in a 100% annual tax write-off. There are even companies that offer to finance equipment or leasing options.
Knowing exactly when and how your future technology upgrades will take place is an important piece of solving concerns before they affect your bottom line. Effectively managing cash flow is essential for the overall health of a company, but technology is one area that should never be overlooked.
Every day, your business depends on information technology (IT) to operate. Thank you for letting us be there for you.