What are the Risks of Not Updating My Systems?
Technology is currently evolving more rapidly than it ever has before.
We understand that implementing and learning to use new tools when you are familiar with your current system can be daunting. Implementing updates or new systems can be costly and it may seem not worth it if you are unaware of the risks. But keeping out-dated technology can actually increase costs and decrease productivity, with the potential to completely stop it.
You may be unintentionally putting your business at risk. In order to run your business efficiently, it’s important to make yourself aware of these risks.
Increased Costs
The ability to provide timely IT solutions to an organization that uses an older, legacy infrastructure is essentially impossible. Make no mistake – there will come a point where you’re spending more money to maintain your legacy systems than you would if you had upgraded everything when you should.
Out-dated software cripples workflow
Business workflow refers to the sequence of activities needed to complete a task. Basically any processes that’s related to getting work done. When one or more of these processes are inefficient, slow or unreliable workflow is disrupted having a knock on effect to your entire business.
Out-dated software is prone to crashes and downtime
This instance has the ability to completely shut down your business workflow if you rely on software to get things done.
Alternately if it doesn’t completely stop it, it will significantly slow it down. During technological failures, companies can experience significant damages in both revenue and reputation.
Decreased Productivity
Leading on from Increased cost, old software like Microsoft Windows 7, also decreases your employee’s productivity; therefore your business productivity. Technology updates enables employees to accomplish more in less time.
Your employees will appreciate an optimised system connection that allows them to complete work faster and move on to the next task.
Cyber Security Threats
With cyber security becoming more of a challenge to upkeep, some businesses are unsure whether it’s feasible to invest.
With many businesses thinking that only larger companies fall victim to cyber crimes, but SMEs are the most consistent target of a cyber crime.
Cyber criminals often target SMEs, believing they’re not as experienced as a larger organisation with their knowledge on cyber crime, making them more vulnerable as they may not even be aware it’s happening.
Legal and regulatory compliance risks
Companies that don’t transition from unsupported software are liable to be fined by Auditors.
SME’s in particular, in this day and age, can no longer afford to assume that they are too small for cyber risks. (See our blog on Cyber Attacks and your Small Business for more info).
We cannot talk about compliance risks without bring up GDPR. The General Data Protection regulation came into affect in March of 2018 and it applies to any individual or organisation that processes personal data.
GDPR does not just apply to large companies but also individuals, SMEs, non-for-profit organisations and community groups.
According to this article in the Irish examiner, nine out of 10 SMEs spent an average of €5,000 to get ready for GDPR. MicroWarehouse technical sales lead, Aidan Finn said:
“In relation to cybersecurity and hacking, we were shocked to learn that security of data is so far down the agenda at a senior management level. Particularly in an era of cybercrime and data leaks, one would think ensuring the security of your network would be in the company’s best interest.”
Don’t let your infrastructure and applications go unprotected. We’re here to help you migrate to current versions for greater security, performance and innovation. Contact us now
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