Here are some of the reasons why relying on outdated technology can cost your business.

Security: Outdated technology will ultimately result in security vulnerabilities that can be exploited by hackers, putting businesses at risk. Older systems are often unsupported, leaving updated security patches unavailable for them.

Productivity: Whether it’s hardware or software, older applications and systems are more likely to fail than their modern counterparts. These failures result in increases in downtime—a bane for any company.

Money: According to the Samanage State of Workplace Survey, productivity lost due to outdated technology costs businesses $1.8 trillion per year. Outdated technology is also more expensive to maintain, resulting in additional costs over newer devices.

Reputation: According to Microsoft, 90 percent of consumers say they would take their business elsewhere if an SMB was using outdated technology.

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