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6 Reasons Why Businesses Should Replace Outdated Technology and Pay Attention to Its Risks 

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A desktop computer’s usable life is generally between two and eight years, while laptops are typically expected to be used for between two and five years. Tablets could last for many years, and most people replace their smartphone every two years. That’s just a brief overview of the lifespan of the common devices people and businesses own and use. Now, let’s dig deeper. 

While some small and medium-sized businesses prefer to use outdated electronic and IT equipment and disregard the warnings these devices give, believing it would save them time and money, other businesses have seen substantial profits by promptly replacing and upgrading their outdated technology with newer models. Sixty-two percent of Canadian executives say that outdated technology is a barrier to innovation for business.  

Furthermore, there are considerably greater concerns associated with using outdated technology in the workplace than just discomfort and annoyance. Reputational harm and financial consequences as a result of a cyber security incident can significantly and negatively impact a business’s productivity and profitability.  

This article will highlight and discuss why businesses should replace old technology and the risks involved in ignoring the negative signs old equipment give. 

Here are six reasons why businesses should replace their old technology and the risks involved in postponing their replacement: 

Crashes and system damage 

Businesses operate with high expectations from their clients – rapid access to information is critical to delivering positive experiences to customers, vendors, and employees. Our customers and the individuals we engage with not only require but also expect on-demand, continuous, and dependable access to files, customer service, and data. 

Many client businesses won’t think twice about going elsewhere if crashes and the subsequent system downtime prevent them from getting what they need and expect. There is always a competitor with the necessary, functional technology that can meet their demands and expectations. 

The time, money, and trust lost to system downtime and crashes represent the actual added risk in this situation. You are not saving any money by using outdated technology; you are only losing some. In the long run, you are better off updating your systems. 

Vulnerabilities become easier to exploit 

Business owners using outdated technology run the risk of being targeted by cyberattacks. Electronics manufacturers upgrade their systems to integrate newer applications and software as new devices are rapidly being introduced to a fast paced and competitive market. These older devices, now lacking support from the developers and manufacturers, become highly vulnerable to cyberattacks from hackers and viruses without updates such as bug fixes or security patches. 

Out-of-warranty equals longer repair timelines and potential outages 

While the policies of electronics and device companies vary, warranties for desktops and laptops typically cover repairs for any faulty hardware and run between one and three years. Your insurance ends once the warranty period has passed, which could result in costly repairs if any of your technological equipment, such as monitors or keyboards, unexpectedly stops working. 

When a device is under warranty from the manufacturer it can often be repaired quickly and replacement parts are readily available.  When that warranty expires, those parts may not be available for purchase, you might have to source them from a third-party, and the time to restore operations could be significantly longer.  Ultimately, this extended outage will cost more to recover from than replacing the equipment on a pre-determined frequency. 

Risk increases over time 

You have a higher chance of falling victim to a cyberattack if you use outdated technology. Because technology constantly changes, cyber-criminals consistently devise new ways to compromise networks and steal data. As a result, hardware and software engineers continuously strive to beat cybercriminals and meet new security requirements, protecting your business from cyberattacks.  

Therefore, the most recent version of any software or hardware is often the most effective in protecting businesses from security risks. In contrast, old technology is an easier target for cyber criminals as some vulnerabilities are known openly and can be exploited quite easily. 

Also, manufacturers advise that users steer clear of outdated systems for personal or business use as they are particularly prone to easy hacks. You might not learn about the dangers until it’s too late if there are no cybersecurity upgrades, as you won’t have the software to detect intrusions and other issues before they cause harm.  

Older technology is less predictable 

It is wise to set up a yearly budget for software and hardware upgrades with a defined IT structure and investment strategy. If you lack an efficient plan and instead rely on outdated technology until it fails, the costs could be unforeseen and significantly greater. 

After all, you may need emergency IT assistance if your equipment crashes as there can be a lot of work involved in getting it up and running again. Naturally, this will be more costly than if your business had proactive, preventative support.  

Decreases employee motivation and morale 

Based on the business’s culture, you may discover that your teams are highly affected by the issues caused by using outdated technology. While some others handle issues silently without voicing out their difficulties, others might not be able to. Dealing with IT issues constantly can become a draining daily reality for employees. 

Being unable to perform effectively puts a lot of stress on staff. With old systems, deadlines are harder to meet, and team members will increasingly get worried about a reduction in their performance and capabilities. Due to this, employees may be less motivated and effective, and more inclined to miss work, which results in an increase in missed work time and higher recruitment costs. Conversely, productivity and morale increase when technological equipment is upgraded or replaced.  

In all, being proactive about replacing and upgrading technology is a great way to improve productivity, avoid downtimes and disruptions, as well as security. It is advisable that organizations ensure that they stay up to date with technology to operate optimally in an increasingly fast-paced world.  

Need Technological Upgrade and Replacement? 

As a business owner, we know you’ve got a lot on your mind and would like to focus on other profit-making activities. Don’t worry. Tier 3 I.T. Solutions has your back. 

Our IT experts at Tier 3 IT will assist you in creating a technology plan that will enable you to overcome business difficulties and attain your company objectives easily. We’re just a contact away

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