2Signs Outdated Technology Is Damaging Your Business

Whether it’s a cybersecurity issue or you’re searching for cost savings for network management, you should always be evaluating your current technology in your business.

Technology is ultimately an enabler of your business. Without keeping an eye on the future of technology in all capacities, you’re going to allow your competitors to gain a leg up on you.

Outdated technology might be something that’s slowly eroding your business, and the following are some signs this could be true.

Slow Speeds

If any part of your technology is operating at a snail’s pace, you should look into the root cause and determine whether or not it’s time for an upgrade. For example, are applications or computers taking forever? Is your website slow to load?

When you’re experiencing slow speeds in any way in your business, it could mean you need new hardware or software, new applications, a faster internet connection, or you might need all of the above.

Downtime

Downtime is a productivity killer, and financially, it can destroy a business.

Are you experiencing a lot of downtimes? This isn’t inevitable, and it shouldn’t be happening so if you are, again, it might be time to rethink your technology and start preparing for an upgrade or overhaul.

If your systems are regularly freezing, it could be due to bugs in older systems, or it could be related to security.

No matter the reason, downtime isn’t acceptable for any business.

Security Issues

When your technology is old and outdated, the risk of security issues grows. The older your technology or the longer you go without updating it, the more significant the risks.

You’ll see if you start comparing newer software that there are usually security patches that have been added from the previous version.

If you don’t upgrade, you’re never getting the benefit of those patches. Over time, each of the holes in security adds up, so you’re just increasing your vulnerability the longer you go without an upgrade.

If you notice more viruses, or perhaps more resources being put toward dealing with security issues, think about upgrading.

Disconnects Between Hardware

With technology, the goal is to have a cohesive sense of functionality between different devices and departments. You want things to be operating smoothly.

If there’s an inconsistency in any aspect of your businesses’ technology, then it’s going to be difficult for departments to work together. Silos will be inherently created in these situations.

You should aim for an IT team managing everything in a centralized way, for cohesion across departments.

Along with components that don’t operate well with one another, a sign that your technology is outdated can also be workflows that aren’t functioning well or processes that aren’t. You may realize, upon closer look, that your workflows are built around your technology, rather than things being the other way around.

You might not be doing things in the most productive or efficient way because you’re constrained by outdated technology. Those constraints are influencing your ability to make the best choices for your business. Instead, you’re making the only choices available to you because your technology isn’t up to the challenge presented by your business.

You’re Missing Out On New Opportunities

If you don’t have cutting edge, modern technology, you might find that you’re missing out on new opportunities for your business. The most competitive businesses in the modern environment are the ones that invest in things like cloud and analytics technology, for example.

If your competitors are willing to invest in new technology and you aren’t, they’re most certainly going to surpass you.

It may be that your outdated technology isn’t just affecting your employees and internal workflows.

Outdated technology can also leave you vulnerable in the eyes of your customers if they’re experience problems as a result.

You may not even realize how much technology can drive or diminish the customer experience. To remain competitive and also to grow, you’re going to have to meet customers where they are, which means your services are delivered in the best and fastest ways possible.

Finally, another sign your technology could be outdated is when you can’t upgrade or get access to support for your existing systems. If there’s no upgrade or supports available, it’s an indicator your technology is outdated, and you need to move on.

If you’re unsure whether or not your technology is outdated, start by performing an audit of your systems and components. Deep-dive into what you currently have and whether there are any red flags present.

Originally published at Entrepreneur News and Startup Guide.