How Much is Outdated Technology Costing Your Business?

technology

Technology evolves at such a rapid pace it can sometimes feel like a never-ending battle just to keep up. While getting the latest and greatest tech the first day it rolls out isn’t totally necessary, steadily purging outdated technology will keep your business competitive and ahead of the curve.

Here are some of the reasons why relying on outdated technology can cost your business.

Security

Dated technology will open the door for vulnerabilities that can easily be exploited and put your data at risk. As new technology comes out, manufacturers are less likely to create security patches for older versions and models, which creates a way in for anyone smart enough to find the backdoors.

Productivity

Studies have found that small- to medium-sized businesses (SMBs) lose 42 hours of productivity each year due to slow and outdated technology. This downtime is created when outdated technology breaks down and requires repair. Upgrading will limit downtime caused by break downs and increase productivity across the board.

Money

Speaking of productivity, the Samanage State of Workplace Survey estimates US companies loss $1.8 trillion to downtime created by outdated technology. Outdated technology is also more expensive to maintain, resulting in more costs than new tech. Then there’s the exorbitant costs associated with data recovery in the event of a failure, not to mention the price of the unspeakable: complete data loss.

Outdated, obsolete technology is costing your business much more than you realize. Is it time for you to replace and upgrade yours? Contact us today to get started.