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Technology can be a make-or-break element of any business. While there’s something to be said about chasing the “cutting edge” to a fault, it’s worse to let technology fall out of date and lag behind. Everyone understands the benefits of updating a network to connect silos, cloud solutions to connect employees across several locations, or cybersecurity to keep data safe from bad actors, but there is so much more involved regarding technology maintenance.
According to Mukesh Choudary of Finoit, a software development company, “Running a business on outdated technology is like trying to race a car with a leaky fuel tank. You're constantly stopping to refuel, but you're never getting any further ahead.” While most of us are familiar with the issues of procrastination when it comes to writing reports (or blogs) or reaching out to clients, how many of us really think of what happens when we drag our feet when it comes to updating the technology we use?
Keypoint Intelligence Opinion
Now that the dangers of delaying technology updates are more concrete, let’s discuss how to overcome these concerns. Companies would do well to do an assessment of what types of tech they have made available to their employees (physical and software) to come up with a roadmap of what needs to be updated and what needs to be replaced outright. Talking with employees—especially those who are the main users of different solutions or products—can only benefit your audit as they are, ultimately, going to help you decide what needs to be changed outright versus just updating software or including add-ons.
Choudary advises that companies “Approach upgrades strategically. Consider implementing a ‘tech debt’ reduction program, where a fixed percentage of your IT budget is allocated to modernizing legacy systems. This proactive approach not only prevents the accumulation of outdated tech but also smooths out the financial impact of upgrades over time.” He also suggests exploring “as-a-service” models as they can be more flexible and cost-effective compared to larger investments that would need to be made upfront.
Regardless if you need just a few updates or a total overhaul, the important thing to keep in mind is that the sooner these updates are made, the better. After all, the longer you wait, the longer it’ll take to fix and the greater the chance that the company could lose its clients or employees.
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