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Due to the technological advancements that have occurred over the years, it is now more critical than ever that you make the necessary decisions regarding technology.

You may think that keeping your old infrastructure is saving you money. However, there are many ways that this strategy can lead to decreased efficiency and profitability. In addition to being more costly, not investing in new technology can also reduce your organization’s safety and productivity.

Security

Thanks to the increasing number of data breaches, businesses must take the necessary steps to prevent their systems from being compromised. Hackers can easily access old hardware and software by exploiting their weaknesses. Even if firewalls and antivirus programs are running, cybercriminals can still take advantage of the gaps left by these vulnerabilities.

Unfortunately, many of the vulnerabilities left by older software and hardware can easily be patched up with the right upgrades. Studies have shown that up to 60% of small and medium-sized businesses (SMBs) that have experienced a major cyber attack leave their operations for six months after the incident.

Productivity

One of the most significant factors that can affect productivity is the increasing number of errors caused by older technology. Even though proper maintenance can help keep the systems running, older programs can still cause issues and downtime. In addition to this, you don’t want to lose all of your data if the system goes down.

Reducing paper orders and inefficient pen and paper processes can help boost productivity. Instead of sticking with outdated systems prone to failure, invest in new technology to keep your business running smoothly.

Labor

Another issue businesses face regarding technology is the lack of time to deliver on their deadlines. Most customers don’t care if the software is down for several hours or a week, as long as it is delivered on time. After getting the system back up and running, you might have to hire additional staff members to complete the work.

Aside from being more costly, not investing in new technology can also decrease your organization’s safety and productivity. Although it may take a while to recoup the initial investment, the long-term benefits of replacing your outdated technology can be significant.