Why Old Equipment is Harming Your Business
As the new year slowly loses its resolution-focused mantra, businesses tend to go back to their old ways of operating using outdated equipment. You’ve heard it time and time again, the right technology can increase productivity, sales and provide a competitive edge. Yet, you operate by a totally different standard using old equipment and outdated technology. The consequences of not upgrading your equipment may get you to reconsider your ways:
Increased Security Risk
Trying to save money? (Aren’t we all?) Well clinging to old versions of equipment may be a recipe for disaster. The longer a technology system has been around, the more vulnerable it is to security risks and system failures. According to Aberdeen’s annual unplanned downtime study, the cost of downtime across all industries has risen 59% over the past three years. In 2014 the average downtime cost per hour was $164,000. By 2016, that statistic had exploded by 59% to $260,000 per hour.
Customers are Leaving
If your business is not operating at 100% efficiency, neither are your customers. It doesn’t take long to damage your reputation these days. A one-time accident, such as a power outage, where your business has no back up power protection plan in place, can lead to your customers leaving.
If a company cannot provide the right systems to operate business processes while protecting customer data, employees will find a way to develop their own methods of accomplishing tasks, taking away time on revenue-generating activities. Employees need to trust that their employer will not only provide the best technology and software, but that they will protect their data in the event of a disaster.
“Never turn your back to the ocean for fear of being swept away.” The same can be said about old equipment. You should not cling to your old equipment out of fear. Every asset has a life cycle and while you want to get the most out of your equipment, running systems beyond their natural life will do more harm to your profitability than good. Check out this article to determine how old is too old when it comes to your UPS system or send our rep an email anytime to discuss UPS options for your business.