Is your business losing money due to outdated technology? Chances are, the answer is yes. A recent survey by Deloitte found that 82% of companies failed to achieve their cost-reduction goals last year, and the primary reason was inefficient technology infrastructure.
In a 2024 poll of nearly 300 business leaders focused on business margin improvement and technology transformation, the biggest barrier to reducing costs was challenges with outdated technology systems. Over 50% of respondents stated that their 2024 focus would be on leveraging data and AI strategies to improve margins, but legacy systems were holding them back.
Legacy systems—those at least 10 years old—become increasingly expensive to maintain. They run slower, require constant updates, and lack the modern features that newer technologies offer. As a result, businesses with outdated technology often fall behind competitors in scaling, cloud integration, human resources management, and customer service.
Outdated technology also significantly increases your vulnerability to cyber-attacks. Old systems can’t keep pace with the rapidly evolving cybersecurity landscape. As new, more advanced threats emerge, older technology struggles to receive the necessary updates to stay secure.
So, why don’t more business owners upgrade their systems when the data clearly shows it boosts productivity and profitability? One reason is cost. The price tag on updating technology infrastructure can seem overwhelming. Business leaders often question the risks: “What if something breaks?” or “What if it doesn’t work as promised?”
However, the numbers don’t lie. Maintaining outdated systems is often more expensive in the long run. A separate 2023 Deloitte study found that CIOs spent an average of 55% of their technology budgets maintaining their existing systems.
Another concern is the cost of switching. How much will it cost to bring systems offline and implement new ones? What will the investment be in training employees on the new software?
The good news is that these are questions your IT team can help you answer before you begin upgrading. A qualified technician will analyze your current systems, determine what needs to be updated, and create a roadmap to upgrade your technology in the most efficient way possible. The process is often easier than business leaders expect and yields significant returns in productivity and profitability.
If you're tired of dealing with slow, outdated technology and want to explore what upgrading could look like, we're here to help. At Teknologize, we offer a FREE Technology Vulnerability Assessment. Our team will evaluate your current system and determine the best path forward for technology that boosts your business’s performance.
To schedule your assessment, call us at 509-396-6640 or click here to book your appointment today!
Teknologize is a SOC 2 certified, Professional Technology Services company with clients throughout the Pacific Northwest. We have offices located in:
Questions about your IT or Cybersecurity? Give us a call today!
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