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3 Ways Outdated Tech Is Hurting Your Company

If you’ve ever considered updating a piece of equipment or software, you’ve probably focused on how much it will cost. But only focusing on the initial expenses of upgrading or repairing outdated technology is short-sighted. 

Here are three ways outdated tech might be affecting your company’s productivity, client satisfaction, and revenue.

1. Outdated Software Increases Security Risks

Outdated technology inherently comes with security risks. For example, running old operating systems that are no longer supported by their manufacturers can make you more vulnerable to hacking attempts. This could lead to anything from system shutdowns to customer information breaches

It’s not just your in-office computers though. You run similar risks if you rely on servers with outdated software to host your website, process transactions, or store company and client data. 

How to Prevent This Problem:

Keep your company’s software up-to-date and make sure that your server administrator keeps server software updated regularly. Routine updates are a cost-effective method of securing your systems against hacks or other data breaches.

2. Old Technology Can Lead to Poor Productivity

Both outdated software and hardware can hurt your employees’ productivity. For example, if your computers are more than five years old, they probably run programs significantly more slowly than newer models. Outdated tech can also lead to compatibility issues and software or system crashes that delay progress on projects.

This can also be a problem if you’re using outdated custom solutions that aren’t compatible with modern tools, such as still relying on old software that your employees can’t access on mobile devices or external internet connections.

How to Prevent This Problem:

Talk to your employees about the tools they need to make their jobs easier. Then, consider hiring a software company to handle a legacy system conversion to address the issues with your current software.

3. Outdated Tech Causes Trust Issues with Customers

The problems with outdated technology also extend to your customer relationships. Imagine going to a gas station and seeing a credit card scanner that looks like it’s from the 90s. As a customer, how willing would you be to trust that device with your information?

Whether you have physical equipment customers can see or if they mostly interact with your website, outdated technology can affect how customers perceive your business. Appearances matter. If your website looks outdated, runs slowly, or isn’t mobile-friendly, your company may appear to be behind the times, which may make other firms seem more appealing to your clients.

How to Prevent This Problem:

Make sure any public-facing technology is regularly evaluated, updated, or replaced. This is especially important for anything that’s used to process payments. 

Outdated tech can affect employee productivity, scare away customers, and pose security risks. But you can avoid these issues by keeping your company’s technology up-to-date.