A guide for the risk averse among us.

Are you still using Windows XP on your computers? Did you last upgrade your WI-FI router in 2001? If your answer is ‘no’ or ‘not sure’, then it may be time to look at upgrading your hardware and software – for a variety of reasons, namely: security, competition, and the invisible costs of harboring outdated tech.

Viruses, Spyware, and Hackers

Whether you like it or not, the rule of thumb in the online security world, is “act like you’re going to get breached.” Security breaches in technology aren’t necessarily inevitable but they are a function of time. It’s only a matter of time before your vulnerabilities are discovered by hackers. It’s only a matter of time before the technology of cybercriminals outpaces or advances your own outdated technology. Updates and software fixes are also a matter of time – are yours proactively managed or automated?

When you use older, outdated technology, you risk exposing yourself to known flaws for which you have no defense. The longer you continue to use this outdated technology, the more susceptible you are. Why risk it?

Visible and Invisible Costs: Hardware Failures and Downtime

Overtime, physical hardware systems naturally deteriorate, break down, and slow down. As your rate of hardware failures increase, so does your downtime – and we all know that the cost of downtime can be deadly to a small business. Guaranteed, the perpetually improving hardware sector strives to create technology today which is immeasurably better than the hardware it produced three years ago. That’s not to say, every three years you should invest in an upgrade, but the consequence of this iterative improvement cycle is that hardware is rendered obsolete very quickly, by its own manufacturer.

Technology tends to depreciate in price as soon as it is released and once it reaches the point of discontinuation — the cost of repair on older hardware will increase, rather than decrease. Not only will your lost productivity add up invisible costs, but the costs of repairs could, in fact, outweigh the long term costs of better technology.

The Competition

Newer technology equals greater network capability. This is true of both software and hardware. Outdated technology is the quickest way to stifle growth and limit your ability to meet scaling customer demands. The result is a devastating loss of business when your internal technology reaches its limits, while your competition accommodates to its customers growing needs. The last thing you want this year is to experience avoidable customer attrition, right?

THB specializes in helping businesses like yours leverage new technology. It is our goal to help you determine how to integrate technology into your business to increase efficiency or earn more profits.

If your business is struggling with outdated technology, let us help! Questions? Comment below or call today.