Should you invest in new technology?
You may have old technology and feel that it’s serviceable for your business, but there are several reasons why it may actually be detrimental.
Ageing equipment means slower machines that take much longer to complete simple tasks: productivity will decrease and your employees’ morale may also be affected as this issue can be very frustrating.
Overhauling your entire system can be expensive – so is it worth investing in new technology? Below is our guidance on how updated technology could benefit your business.
Having the right computer hardware is essential for your business. This includes laptops and user workstations, as well as wires, hubs and routers as they are a vital part of the computer’s function. These days, store-bought computers are often sufficient to run a business, but it is advisable to buy ones with a large amount of storage.
Servers will provide you with a vast amount of storage that can be accessed by any devices within your network. They are also useful because they are scalable and upgradeable for when your business grows.
However, if you don’t have to use a server and your business does not require too much storage, you could try using a system with a speedy processor and a low RAM (random access memory).
Once you have sourced the right type of hardware, you can decide what kind of software you need. This will ensure your operations run better and at lower cost. Here are some of the most essential:
Finance and accounting
Accounting software is vital for most businesses. New software applications come out all the time, and investing in them can streamline your processes and speed up the time spent on accounting. Many will automate activities such as billing, invoices and payroll.
Collaboration tools are very useful. Slack is great for file-sharing and comments – you can create different channels for different parts of your business to keep everything in order.
An increase in cyber breaches means smaller companies should pay more attention to the software they are using and what they can do to prevent a cyber-attack. Smaller businesses are often targeted specifically by hackers who know that, unlike larger businesses, many don’t have proper defences. That’s why it’s also important to update your software on a regular basis.
If you’ve had your technology for some time and are not experiencing any major issues, there is no need to make an investment in newer technology. However, if you are encountering multiple problems with your hardware and software, it might be time to bite the bullet and invest in new products. You may find it makes a significant difference to your staff satisfaction levels and that more work gets done.