Is your organization currently bleeding money due to its reliance on outdated technology? The answer is likely yes. A recent survey by Deloitte revealed that a staggering 82% of companies failed to meet their cost-reduction targets last year, with an inefficient technology infrastructure being the primary culprit.

A 2024 poll of nearly 300 business leaders on business margin improvement and technology transformation efforts found that challenges with their technology infrastructure are the biggest barrier to improving margins by cutting costs. The same study revealed that over 50% of respondents reported plans to focus on leveraging data and generative AI strategies to improve margins in 2024.

If your organization is struggling with outdated systems, consider upgrading with professional managed IT services to help enhance productivity and security.

Why Should Businesses Upgrade Their Technology?

Legacy systems, typically categorized as technology that’s at least a decade old, can become expensive to maintain. These systems are slower, require constant updates and patches, and lack the latest features. Consequently, businesses with outdated technology struggle to keep up with tech-savvy competitors in key areas, from scaling and cloud usage to HR and customer service operations.

Outdated technology isn’t just a barrier to efficiency; it also increases the risk of cyber-attacks. Older systems often fail to keep up with the fast-evolving world of cybersecurity, eventually becoming incapable of receiving the latest updates needed to protect your network against new, more malicious threats. Consider our project services to help with the implementation of new systems to meet your business needs.

The True Costs of Maintaining Old Technology

So why do business owners put off upgrading technology when the data shows that it will positively impact productivity and profit margins? The answer often lies in sticker shock. Seeing the cost of upgrading technology infrastructure can be overwhelming, and many business owners find themselves running through risk-related questions like:

• "What if something breaks?"
• "What if it doesn’t work as promised?"

However, maintaining outdated systems can be even more costly. A separate Deloitte study of CIOs in 2023 found that respondents spent an average of 55% of their technology budget on maintaining existing systems—leaving little room for innovation or improvements.

If you’re interested in learning more about how upgrading technology can help protect your company and improve your efficiency, we invite you to schedule a discovery call with us.

The Cost of Transitioning to New Technology

Concerns also arise around the cost of switching: the expenses of downtime, employee training, and potential disruptions during the transition. But working with an experienced IT team can help you address these concerns. By performing a thorough analysis of your current infrastructure, your IT team can help you plan updates efficiently and cost-effectively.

If you’re interested in taking the next step but unsure where to begin, we offer a FREE Network Assessment to help guide your journey to modernized, productive technology. During the assessment, our techs will evaluate your current systems, identify areas for improvement, and create a detailed plan to upgrade your technology in the most efficient way possible.

Staying competitive requires embracing the latest technology. Contact us today to learn more about how a managed IT provider can help you upgrade to a faster, more secure infrastructure.