We all have heard the phrase ‘’Change is scary, but so is staying the same’’. It is common that businesses avoid updating or upgrading old software, due to the fear of making big business changes or investment. Although there is also this other phrase ‘’if it’s not broken, don’t fix it’’, there are some costs associated with this decision. Today we will talk about how running old software could cost you money.
As technology grows and advances, so do cyberthreats. New versions of old software tend to upgrade security features to cover these new demands. So, to keep running an old software version means putting your employees’ and your business’ information at a much higher risk of breach.
Security is a topic no organization should overlook. For highly regulated industries, such as financial or legal, the penalties and risks that come with the lack of cybersecurity diligence can be extremely severe. So, take this into consideration before deciding not to spend time and money on newer versions of your digital tools.
Loss of productivity
Outdated technology is not only expensive to maintain; according to the Samanage State of Work Survey, the loss of productivity due to outdated technology is costing businesses $1.8 million USD per year.
On the contrary of old software, newer versions of digital tools tend to run faster and smoother, are less prone to glitches or breakdowns, and are usually easier to use than past versions. All the previously mentioned help boost productivity and efficiency.
Support and maintenance
As mentioned above, old technology is prone to breaking down, glitching, or freezing. This means that one would have to continuously invest in IT support and repairs. Not to mention that, as newer versions of software come out, the more likely or closer it is for the seller to remove support for older versions.
However, this expense can be –almost completely– eliminated when using new technology.
Loss of opportunities
Using old software deprives your team of collaborating more effectively and in real time; while new, sophisticated technologies offer advanced features that can help streamline business operations.
For example, cloud-based solutions allow employees to easily work remotely and access all the information they need from anywhere, at any time.
Now that you know old software could cost you money, don’t put your company at risk. Whether you are looking for newer Microsoft software or moving to the cloud, our licensing specialists can help you choose the option that best suits your business needs. Book a meeting with us today to receive expert guidance and assistance with your purchase.