Outdated Technology Can Destroy Your Business

Tue, Aug 7, 2012


Whether you are a small business owner or the founder of a large company, the bottom line /saving money and making a profit should never be a reason to continue using outdated technology. Yes, your old software and hardware still work perfectly; and yes, new updates and upgrades cost money; but there are many more costly ways that outdated technology can destroy your business.

The impact that outdated technology has on productivity can be a major factor is the decline of a business. New technology is designed to increase productivity no matter what area of expertise a business operates in. The decision to continue to use old versions and variations of equipment and programs is a sure-fire way to contribute to the decline of your business. Time spent waiting on longer downloads and restarting a crashed system is not being utilized productively.

Outdated software alone can cause major problems of its own and be another factor in the destruction of your business. Often without the proper versions or newly developed programs files don’t download properly. Files may not convert properly and may look quite different from their original versions.

Often sticking with old technology long after numerous upgraded versions have been on the market is a sign that a company is resistant to change. You may risk the reputation as someone who is a dinosaur and not knowledgeable of new trend and progressions. With competition at an all time directly because of developments in new technology appearing resistant to change will only allow you to stand out among your competition in a negative way.

As technology advances and the old is constantly being phased out by new inventions, it becomes more and more apparent and tangible, that to continue to use technology that is out of date is to continually dismantle your business. As the old technology becomes obsolete, so will your business.

Fortunately there are ways to keep your business on track until you are in a position to upgrade your business in a effort to remain competitive in todays markets. As I stated earlier, taking advantage of free updates and upgrades is a surprisingly efficient way to extend the life and effectiveness of your current, now old software. But also be aware of when those updates are truly useful and when they have begun to just provide Band-Aids.

Equipment leasing can be a very cost effective way to prevent old equipment from ruining your business. Leasing equipment can also allow a business to take advantage of tax deductions and free up working capital that would have been earmarked for the purchase of equipment. Another major advantage of equipment leasing is the fact that a company can always have the latest and greatest equipment. Typically with leases upgrades and trade-ins are a standard part of the lease.

Don’t let outdated technology destroy your business. It can cause a decline in productivity, a decline in efficiency and time management, and cripple you competitively as old technology becomes obsolete. Leasing equipment is one way to stay current with new technology while remaining cost efficient.

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