The Cost of Using Obsolete and Outdated Technology
Faced with competing financial demands, businesses are always looking for ways to cut costs. Small businesses choose to put off necessary expenditures like replacing an old computer or server. What some business owners do not understand is that an outdated computer costs more than a new one in terms of lower productivity, increased maintenance costs, upgrades, security risks and lack of customer confidence.
As computers age, they freeze more often, run slower and require more maintenance. Older computers lack the power needed for new software programs that can increase productivity. They run on outdated software that creates a security risk including cyber attacks and data breaches. A recent survey found that U.S. businesses may be losing up to $1.8 trillion in wasted productivity due to outdated technology.
If you want to calculate how much your old computer is costing your business in productivity loss, think about how much time it takes to boot up your computer and for your programs to start running at a good speed. Add to that how much time it takes when your computer freezes or crashes, and how many times you need upgrades and/or maintenance for it. That time works out to be one hour every day.
The average salary in the GTA is roughly $47,000 or $25 per hour. So, your full-time employee works 5 days a week for 50 weeks a year. Your computer costs you $6,250 per year! The cost running your obsolete computer now exceeds the cost of a brand-new desktop or laptop.
Vulnerability to Security Threats
When you are running older hardware and software that lacks critical updates, you are at risk of a data breach. In 2019, there were 3,800 data breaches. According to Forbes, data breaches exposed 4.1 billion records in the first half of 2019. The bottom line is that looking at the amount businesses could lose from a security standpoint only, businesses that cut corners updating their technology stand to lose a lot more than they would gain.
How Often Should I Replace my Computer?
The lifetime for a desktop computer and a laptop is approximately 4 to 5 years. Small businesses tend to hold on to their computers for more than 4 years.
PlexxTech Solutions Inc. is a Managed IT Services company that offers cutting edge services that are affordable, efficient and work within your budget. We specialize in working with SMB’s.
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