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Did you know? Outdated technology could be costing you more than an upgrade

By Sarika Vatner on 27/10/15 10:00 AM

Technology is the driving force behind business today, business resources are under constant demand to make sure our customers are getting the best experience, this often means that behind the scenes resources such as technology do not get the attention and nurturing it deserves.

Understandably, companies loath to spend hefty amounts on technology upgrades, every 12-24 months. But, unfortunately outdated technology can cause series issues for you and your customers.

Outdated technology is often the cause of a decline in productivity from your employees. This can cause severe problems for your business if your employees are not being productive it means it is costing your business more money than it should to drive sales, share information and ultimately get the job done, increasing bottom line and decreasing profits.

Technology in business has distinct advantages, ranging from operational efficiency to marketing and customer satisfaction. But littered amongst its advantages, when technology is left unattended, unfortunately it does not always age gracefully - Security risks, severe data loss and/or corruption, decreased functionality, limited flexibility and poor professional engagement are just some adverse effects of outdated IT equipment.

How-Outdated-Technology-Can-Cost-Your-Business-InfographicWith technology advancing at the rate at which it is today, it only take one new feature to push  your business to the next level, through streamlined and automated system, staying on top of your technology can mean the difference between being ahead of or way behind your competition.

Time and Money are major reasons for the lack of technology updates, but the top 5 risks of using outdated technology can be much more expensive than an upgrade.

System downtime and crashes all waste time, fixing these IT issues takes away from focusing on your core business functions. System downtimes are usually much costly than we initially realise – Why not calculate the cost of your downtime with our specially designed calculator.

Increased costs of fixing old IT, as Technology infrastructure evolves and ages it becomes more expensive to fix, the money being spent on fixing broken systems and hardware is money that is being taken away from growing your business.

Productivity decreases as employees work to resolve IT problems, if systems are down work cannot be finished, wait times increase and the general day to day use of the hardware and software deteriorates as the systems near end of life. If our employees are waiting 5 minutes for files to open or 10 minutes for computers to reboot or boot up, it is predicted that outdated systems can waste up to 1 week per year in productivity, PER employee!

Outdated software is often riddled with security holes, leaving your companies sensitive data open to cyber-attacks and cyber terrorism. Data security is an increasingly sensitive topic, if your business is not seen as safe, you can be sure your customers will go elsewhere to protect their unique information.

Did you know that auditors can actually fine companies that do not transition from unsupported Software? Outdated hardware and software can run the risk of legal and regulatory compliance problem down the track.

While upgrades seem to happen more and more often with technological advancements, the cost of not upgrading can often far outweigh the cost of your upgrade. It is well worth considering a move to cloud services (Read our Cloud 101 guide for more information) and a Managed Service provider to manage these upgrade for you, this will allow you and your employees to focus on what is really important – servicing your customers to the best of your ability and business growth.

Cloud 101 Guide 

**Image courtesy of Microsoft.