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Outdated Technology: Is It Saving You as Much Money as You Think?

As a business owner or department manager, you’re constantly evaluating competing financial demands—usually at the same time you’re looking for ways to save money and cut costs. Unfortunately, one of the first ways people choose to cut expenditures is to hang on to aging office equipment, such as office printers, for several generations. What you may not realize is that this is actually costing your company more than updating. Lower productivity, security risks and increased maintenance costs required to keep old devices running past their expiration date all erode your company’s bottom line and reputation.

Read on for the ways that holding on to outdated technology too long can cost your business more than it saves.

Productivity: the first casualty

As devices age, they run less efficiently and require more maintenance, which translates to more time spent idle. They lack the power and technology needed for new, efficient software and processes that could otherwise help increase productivity and cause your employees to spend more time navigating administrative tasks.

Newer machines have the capabilities to automate tasks and to use cloud-based apps to access work documents, helping to complete tasks at a faster rate. Mobile-friendly solutions offer secure mobile printing, improving employee workflows without sacrificing security and efficiency.

The bottom line: Technology fails to meet the needs of your team. Outdated tech results in wasted time and increased frustration, instead of saving time and effort, reducing human error, and increasing service speed.

Vulnerability: an ongoing security threat

Older hardware and software lack the critical security updates of their newer counterparts, and printer hacking is on the rise.

Almost every vertical has some sort of industry compliance it must adhere to, and if your multifunction printer or printers are not properly configured and secured, it makes it all too easy for a hacker to hijack the data being transmitted to and from those printers. They can also use an unsecured printer to gain access to your network, plant malware, steal PHI and other valuable data, or they may even destroy the printer itself.

The bottom line: From a security standpoint alone, skipping or delaying technology updates can easily cost more than any monetary savings.

Maintenance costs: an ongoing issue

Older equipment is more prone to breakdowns, leading to higher operational costs and the risk of downtime. As technology ages, replacement equipment, parts and even ink become more difficult to find, thus increasing maintenance contract costs. Outdated equipment is unable to interface with newer software and apps, designed to enhance work flow. Eventually you will discover that your equipment is no longer supported by the manufacturer. 

The bottom line: Outdated tech leaves your team at a competitive disadvantage, as well as leaves you out of productive changes in the market.

Assessment: choosing the right technology for your needs

Of course, the first step when considering an update to your technology is to assess your requirements, beginning with monthly volume, color or B/W, paper sizes needed, wireless connectivity, finishing capabilities, security, and more. If you have questions about updating your office technology or want to start an assessment, click here.