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Pros and Cons of Upgrading Your Business Technology This Year

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If you have ever experienced the pain or frustration that goes along with losing your work, you know why upgrading technology regularly is essential. You may also be tired of your systems, not "talking" to one another.

Even though there are arguments not to upgrade your software or avoid investing in a more rugged laptop, understanding the specific pros and cons can help you make the right decision for your business and your needs. Keep reading to learn what the pros and cons of upgrading your business technology this year are.

Pros: Slow Computers Cost You Time and Money

Trying to determine the actual cost of slow or outdated technology in your business can be a messy process. While this is true, there are some things you can do. For example, one estimate has put the cost of technology for your business at around $5,676 per employee per year.

 

This number was determined after accounting for the amount of time lost while waiting and all the potential opportunities lost, which is called Opportunity Cost. If you look at the yearly period, this amount accounts for one-tenth of an employee's annual salary.

 

If you look at the example numbers above, it is clear that investing in updated technology regularly will be more than worth it. In fact, this is an investment that will more than pay for itself over time.

Pro: Not All Software Patches and Updates Are Available for Older Devices

No longer can you "tweak" or adjust your software systems to start working again. Since technology is developing rapidly, it is not viable for companies to continue trying to bridge the gap between their old technology and new devices.

 

While some believe that this is going to be more of an issue in the future, the fact is, it is already happening. For example, anyone using an XP machine no longer has access to patches or updates. Also, Windows 7, which is still commonly used on many devices, follows this path.

 

As you start to think about the reduced quality of the work within your business produced with the degraded software, it clarifies that updates are needed with old tech being more susceptible to issues like spyware, worms, and viruses.

Pro: SaaS Services Do Not Come with Upgrade Project Costs

It does not matter if you consider, if you utilize SaaS services, it can be a huge benefit for most businesses. One of the most appealing factors of SaaS is that you do not have to budget for the needed upgrades. However, it is necessary to select a service that will provide the needs of your business. If you are in situations where heavy traffic is going to be encountered, this will come at a premium.

 

However, if you take the cost of upgrades off the table for your projects, it will be a huge win for your company. This means that you show how serious you are about reducing your overall risk while reaping the benefits of the most updated tech. In time, this will help you emerge as a more credible business.

Pro: You Can Use the Latest and Most Innovative Technology Available 

A lot of people like to spend money on cars. Others want beauty treatments or luxury clothing. While this is true, as a business owner, you should be ready to invest in the latest tech that is available. The appeal of doing this should be obvious. New technology will ensure that you get the biggest benefits for your dollar, and you will know that you have tech that will perform as expected.

Con: Legacy Business Apps May Not Be Supported

As tech companies pull the support provided for older products, your business apps' legacy lines – if they are still receiving support – may no longer have the support down the road. There have already been some legacy web apps left behind in the past few years, which will keep happening as new technology adapts. Now is the time to take action.

Con: No Budget for Upgrades

This is the most common reason that businesses do not invest in an upgrade. They believe if something is working fine, why should they try to fix it. While this is true, this is an upgrade that is more than worth it.

 

As you can see from the information here, the pros will typically outweigh the cons of upgrading business technology. Being informed is the best way to ensure that your business reaps all the benefits of new and innovative technology. In the long run, this will help ensure that you have the best chance of success possible. Take some time to review the pros and cons here and decide for your business if this is something that is worth the investment – chances are the answer will be a resounding "yes."

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