How Outdated Technology can Adversely Affect Your Business

Don’t let old tech slow you down!

Business owners choose to cut costs for a multitude of reasons. Some decide to downsize, and others stop investing in ventures that aren’t generating enough profit. Some opt to not update their office spaces with the best technology available because they assume that the return on investment simply isn’t there. Why fix what isn’t broken?

Well, that’s where things are likely to go seriously wrong.

It’s only a matter of time before the system that your business runs on eventually becomes obsolete. If you don’t find ways to keep in touch with the latest technology available, your organization is likely to suffer in ways that can be hard to recover from.

Outdated technology costs you down the road.

Lax Security

The more outdated your software is, the more vulnerable it becomes, which in turn makes it easier to hack. 

Why are older systems and servers so easy to hack?

Clunky, dated software becomes increasingly incompatible with new antivirus and security patches. Systems like this are easy prey for hackers. They are skilled in penetrating your servers using loopholes that are closed in newer systems and software.

 The damage caused by malware and security breaches is threefold.

1. All of your confidential data, including your client’s private information, is accessible by a malicious third party. 
2. You could lose existing and potential customers. 
3. Research indicates that ten out of every twenty consumers are likely to never do business with a company whose servers or computers are known to have been hacked before. 

As a result of just one hack, your business could lose its reputation quickly followed by customers and sales.

Prone to data loss

One of the main issues with using old hardware is how likely you are to run out of storage space. Constantly buying more physical storage is costly and can lack easy organization and accessibility. Older systems are also more susceptible to sudden crashes, causing data wipeouts.

Both scenarios are a barrier to accessing information that can be detrimental to business operation.

High maintenance costs

Naturally, the older your system is, the more you spend to keep it running. Let’s say you decide to spend your budget on fixing a bug, or replacing a malfunctioning component. None of that is going to matter because sooner or later, the system is going to break down again and eventually have to be replaced anyway. The cost of repairing existing technology must be carefully weighed against upgrading and buying new.

Spending a considerable sum on repairing a dated piece of tech can be like patching up holes on the deck of a ship that’s already halfway under water.

Slow response time (decrease in productivity)

Outdated hardware won’t keep up with the latest software for long. It doesn’t matter how efficient you think your processor is, years and years of use are bound to take a toll on any piece of tech you regularly use. 

This can affect your billable hours. The older your system gets, the longer it takes to respond. If you’re offering your client a service that takes X number of hours to do, whereas your competitors offer to complete the same task in half the time, guess what’s going to happen?

You’re going to lose customers to the competition.

Poor online presence

If the website you run is rarely updated, slow, and not optimized for search engines, you’re likely to get pushed off the first page of Google’s search results.

When was the last time you Googled something and went all the way to the third page to find what you were looking for?

Exactly.

That’s just another example of how staying out of the loop with the latest developments in modern technology, can put you out of business by diminishing your online visibility.

What can you do to ensure your business stays relevant?

Software and hardware alternatives 

Business owners may be reluctant to invest in the latest tech because they feel it is challenging to keep up with at the rate it keeps changing. Also, the costs incurred aren’t always immediately compensated by the returns.  

There are plenty of SaaS (Software as a Service) and HaaS (Hardware as a Service) programs that allow you to virtually access and manage a cloud-based software and hardware environment for a monthly or yearly fee. This subscription model can be a more affordable alternative to complete hardware and software replacement.         

Team up with an IT company

It would be wise to partner up with an IT company, and consult them regularly on software and technological issues. This will help in letting you know if the software you use is up-to-date and relevant, and if it isn’t, when and how to get it replaced. 

 Tech Masters can help. We have over 60 combined years providing quality IT support to businesses in a wide range of industries. Contact us today for a free 30-minute consultation! 

 The challenge with any business isn’t attaining monetary success, but maintaining it.  If you are aiming for business stability in today’s world, where the technological climate is ever-changing, then you should be willing to stay one step ahead of the game. So, what does that entail?

Embracing the change, and moving ahead.