The principal of technology is a simple one to grasp – it is designed to make human lives easier. But let’s be honest for a moment and have a good think about whether or not this is actually the case. The truth is that while good technology that is relevant to your business can help you save time, resources, and money, there are lots of companies out there who are experiencing the opposite.
One of the biggest reasons for this disparity is, without doubt, the fact that a lot of businesses are using outdated technology. If your company uses old and outdated tech, there are a few simple signs to look out for, and the impact can be significant. Let’s take a look at some of the ways outdated technology is costing you time and resources – read on to find out more!
Every second counts
At the most basic level, new technology tends to be quicker than old technology. It’s that simple. Any task you perform, whether it’s running a system check or just typing out and printing a simple Word document, will take you less time with brighter, fresher, faster new technology. Every second – and every cent – counts when you are in business, and when you add up the wasted time spent on tasks using old tech, it could be an astonishing figure by the time you get to the end of the year.
It takes you away from doing business
The reason for being in business is to engage with customers and make sales – it’s really that simple. And if you are being prevented from doing this due to unwieldy, outdated and slow technology, it is going to cost you money.
It’s not a good look
If you are relying on technology to provide a service, every time a customer uses your platform, you are being judged. The modern consumer is used to speedy technology, that loads and works in super fast time. And if your business service is any slower than lightning fast, the reality is that your customer will start looking elsewhere.
It’s limiting your growth
As IT experts Level 5 Management point out, if you are planning to grow your business, scalable technology is critical. And if you are stuck using an old, outdated legacy system to power your business, the reality is that it will stifle your plans, instead. Ultimately, old technology gives you less of an ability to respond to changes in your organization or, indeed, in the market.
If you can live with the problems we have already been through, then surely this one will be the kicker – old technology is incredibly susceptible to data loss, data security, and cyber attacks. If you fall foul of any of these major issues, the chances are that you won’t have much of a business left to run.
As you can see, old technology is costing many businesses an awful lot of money. And the truth is that without using up to date, modern tech, you are running a serious risk of losing your business altogether.
Is it time to update your technology?