5 Ways Old Technology Can Hurt Your Business

5 Ways Old Technology Can Hurt Your Business

We live in a world where innovations and technology are rapidly evolving, and many businesses struggle to keep up with these. Or even decide in which direction to go. 

That’s only normal as we know that keeping familiar technology, even if it is outdated, can seem the right thing to do. 

However, delaying upgrades comes at a price too and, most of the time, the risks of doing nothing almost always outweigh the costs of upgrading.

Of course, there can be many reasons to avoid upgrading your business systems to newer technology, like high costs and time spent replacing hardware, software, and devices. But, when using outdated systems you actually sacrifice efficiency, productivity and security.

So, in many ways, adopting current technology is the key to remaining competitive through better systems, employee productivity and advanced data security. 

In this article, we explain in more detail, the risks of relying on outdated technology for your business and why failing to upgrade can ultimately cost more in the long run.

These are 5 ways old technology can hurt your business

While older technology can sometimes serve its purpose, it can also be what stops the growth and efficiency of your business. 

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Now, let’s take one by one 5 of the most important ways old technology can hurt your business. 

Loss of efficiency and productivity

Technology evolves rapidly, becoming more efficient and capable with each new development. As a result, many businesses struggle to keep up and remain reliant on legacy systems.

As it becomes old and outdated, technology can often lack the efficiency and speed of newer technologies. Outdated hardware or software can also slow down processes, leading to decreased productivity and increased frustration among your team. 

For example, an older computer may take longer to start up, load applications, and process tasks, which can add up to a great loss of productivity over time.

In other words, tasks that can be completed quickly and easily with modern technology may take significantly longer. All this results in wasted time and resources for your business, and we can all agree, nobody wants that. 

And if you want more research behind this, according to a new study by Microsoft, a PC that is more than 4 years old is 2.7 times more likely to be repaired, resulting in 112 hours of time lost.

So, updating your technology is almost a must if you want better productivity and a happy team. 

Higher maintenance costs

As technology ages, it typically requires more maintenance, which can also mean it will cost you more in the long run. Why? Well, for example, hardware for older technology may be more difficult to find and more expensive. 

More than that, older systems might be out of warranty, meaning your business has to take on the full cost of repairs or replacements. 

And, in many cases, old systems require more maintenance, support and IT resources. According to the same study by Microsoft, old computers are costing business owners more than US$2,736 which is enough to replace with two or more newer PCs.

Also, if you want to reduce energy costs, that’s just not possible using old systems as they don’t have the latest power-saving technology. This means that by choosing newer technology, you can be more energy-efficient, have a smaller carbon footprint, and become more sustainable.

The risks of using old technology

Security risks

Now, of course, the following goes without saying, but we’re still going to point it out. If you are using old technology, your business can be more vulnerable to cyber attacks. Why? Well, outdated technology may not give the latest security features and patches, leaving it more vulnerable to cyber threats. 

For example, if your business still uses Windows Server 2012, make sure you upgrade it as this will stop receiving critical patches and security updates from 10th October 2023.

Another aspect you may not be aware of is that hackers are constantly evolving their techniques. And old systems may have vulnerabilities that are well-known and easily exploitable, becoming an easy target. 

All these put your business data, customer information, and intellectual property at risk, potentially leading to financial losses and damage to your brand reputation.

Compatibility issues

Again, this shouldn’t surprise any of us, as it already happens with many of our mobile devices, right? They become incompatible with the latest apps in just a few years after we purchase them.

That’s how technology works, it advances, and the old one may not be compatible with new systems or software anymore. So, this can create compatibility issues and limit your ability to adopt new tools and systems that could improve your business operations, such as cloud computing, artificial intelligence, or advanced data analytics.

It can also result in disrupting collaboration with external partners or customers who rely on more up-to-date technology.

Poor customer experience

We live in a digital age where businesses are expected to keep up with the latest technology trends. This means that using outdated technology can give your customers and partners the idea that your business is behind the times. And this can harm your reputation and competitive edge.

Also, customers these days have high expectations of all their online experiences. So old websites, software and customer interfaces give a bad impression and can really frustrate them. 

For example, outdated websites or applications may not be mobile-friendly or compatible with customer experience technologies, making it harder for customers or employees to access your services from any device. 

Your competitors will probably adopt newer technologies and invest in a user-friendly, which means that you risk falling behind if you don’t upgrade too.

So, keep in mind that modern technology can provide significant competitive advantages in terms of efficiency, customer experience, data analysis, and decision-making.

5 ways old tech can hurt your business

To conclude, old technology can hold back your business

In conclusion, while it might seem more budget-friendly to keep using older technology for as long as possible, the potential downsides will outweigh the benefits. 

So, make sure you are regularly updating your technology as this is definitely an essential part of staying competitive and efficient in the digital world we all live in.

Now, in case you need help understanding if your technology is outdated, reach out today and our team of IT experts will analyze your business infrastructure and let you know if it’s time to upgrade your current technology or not.