When did you last invest in new technology for your business? This year? Last year? A few years ago?
Perhaps you’re using a mixture of old and new – replacing equipment and software whenever outdated systems breakdown. Chances are there’s at least one piece of equipment or software in your business that’s ageing and in need of replacement – but maybe you haven’t got around to replacing it just yet.
We know many business owners put off investing in new technology and there’s a number of reasons why:
The cost – updating and replacing old technology requires financial investment.
Perceived loss of productivity – updating hardware/software or replacing devices takes time. The team will also need to be brought up to speed with new technology.
If it works, don’t change it – if old technology seems to be working correctly, many business owners opt not to replace it until it’s broken in a bid to save money.
Fear of change – it’s human nature to be reluctant to change things out of fear of upsetting the balance of your business, so many business owners opt to stick with old systems until they eventually fail.
What most people don’t realise is that failing to update old technology could be costing your business far more (in time and money) than it’s saving.
The obvious cost of using old technology is the loss of productivity. Old technology is generally slower and tends to crash or have issues functioning effectively. So, when a computer is down or running slowing, it’s easy for everyone to see the negative impact this is having on your business. But, there are also lots of other issues that can arise as a consequence of using old technologies…
Here are 12 hidden issues old technology could be causing your business:
1. Processes are ignored
Successful businesses rely on staff following the correct processes. But when IT doesn’t work properly, it can force employees to take short cuts or workarounds simply to get the job done.
Of course, as soon as unapproved processes and working methods are introduced into the business, things quickly start to go wrong. Calls, orders and tasks might not be recorded correctly, and you can soon lose control of everyday processes.
2. Higher costs
If you’re trying to reduce energy costs within your business, it pays to look at your use of technology. Old systems don’t have the latest modern power-saving technology of newer equipment. That means if you have a lot of kit within your offices, you could make major energy savings by investing in newer devices.
And of course, when systems are running efficiently, you save on staffing costs too. Having the right technology will give your team the tools to be more productive. For example, platforms such as Microsoft Teams enables employees to communicate effectively, collaborate on projects together, and achieve more each day. This creates a more efficient use of your employee resource.
3. Inability to work flexibly
Over the course of 2020 and 2021, businesses had no choice but to transition to remote working practices. Having the latest technology in place was a key factor in this transition. Those businesses who had already invested in newer technology could seamlessly make the change and operate just as efficiently from home. Those who had to update and replace old technology experienced productivity loss and disruption.
And flexible working is not set to slow down in the future. Technology has developed to the point where employees can successfully work from anywhere. More businesses than ever are introducing flexible working policies, whereby employees can work from home, in the office, on the go or at specialised working hubs. This has been proven to improve employee wellbeing and productivity. It also makes it easier to employ and retain the best staff, cutting your recruitment and training costs.
So naturally, you need to be confident that all your systems, hardware and devices are secure and functional when being used outside the office environment. Typically, older technology does not provide the security or functionality that you need to work flexibly, simply because it was only ever designed to be used in the office. As such, it’s essential that you update old technology, giving your team the freedom to work from anywhere.
modernising the workplace 2021
4. Expensive emergency fixes
With a clear IT strategy and investment plan, you can create an annual budget for hardware and software upgrades, allowing you to stay up-to-date and in control of costs. If you don’t have a strategy and instead stick with themarketingheaven old technology until the day it lets you down; the costs can be unexpected and far higher.
When a piece of equipment fails and your business can no longer operate, it’s likely that you’ll have to seek emergency IT support. This will naturally be more costly than planned preventative support. The outcome may be that you need to replace equipment – and you may rush to find a quick fix to get your business up and running – rather than being able to research the best options and deals.