Is your organization bleeding money due to its reliance on outdated technology? The answer is likely yes. According to a recent survey by Deloitte, a staggering 82% of companies failed to meet their cost-reduction targets last year, primarily due to inefficient technology infrastructure.
The 2024 poll surveyed nearly 300 business leaders about their efforts to improve business margins and transform technology. It revealed that technology infrastructure challenges are the most significant barrier for organizations aiming to cut costs and improve margins. Over 50% of respondents reported leveraging data and generative AI strategies to enhance margins in 2024.
Why Should Businesses Upgrade Their Technology?
Legacy systems, typically categorized as technology at least a decade old, can quickly become expensive to maintain. These systems are slower, require constant updates and patches, and cannot leverage new features as they’re developed. As a result, businesses struggle to compete with tech-savvy competitors across all organizational areas, from scaling and cloud usage to human resources and customer service operations.
But that’s not the only issue. Outdated technology significantly increases your risk of cyber-attacks. Older systems typically cannot keep up with the rapidly changing cybersecurity landscape, and they cannot handle the latest updates required to keep your network secure as new, more malicious threats emerge.
Overcoming the Hesitation to Upgrade
Why do business owners hesitate to update their technology despite clear data showing positive impacts on productivity and the bottom line? The main reason is sticker shock. The price of updating technology infrastructure can feel overwhelming. Wise business leaders worry about risks such as “What if something breaks?” or “What if it doesn’t work as promised?” However, maintaining old technology can be even more costly. A separate Deloitte study of CIOs in 2023 found that respondents spent an average of 55% of their technology budget on maintaining existing systems.
There’s also the cost of switching to consider. What will bringing systems down and transitioning to a new system cost? What will it cost to train employees to use the latest software? These are all questions an IT team, like 10D Tech, can help answer BEFORE you start upgrading your technology. An experienced technician will help you analyze your system, determine what needs updating and when, and map out an efficient upgrade plan. It’s easier than most business leaders think and pays off in increased productivity and profitability.
Take the Next Step with 10D Tech
If you’re looking to upgrade your technology or are tired of slow, outdated tech and want to see what the next step could be, 10D Tech is here to help. We offer a FREE Network Assessment, during which our expert technicians will thoroughly evaluate your system and identify the updates needed to help you run your business better. To book your assessment, call us at (541) 243-4103 or (971) 915-9103 or click here to schedule now.
Why 10D Tech?
At 10D Tech, we are the experts in technology transformation. Our team of seasoned tech and business professionals understand the complexities of modern business technology and is dedicated to helping organizations like yours achieve maximum efficiency and security. Don’t let outdated technology hold you back any longer. Embrace the future with 10D Tech and watch your organization thrive.
