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First there was fire, then there was the steam engine, and now we have the Internet. These were all inventions that propelled us forward and marked the beginning of a new age in our joint history. Yet, there are still those who would rather use caveman-level tech for their business, even today, due to their unwanted fear of change. Without innovation, there can be no progress, and without progress — you fall further behind the competition.
Check these five reasons why you should upgrade your business’s tech ASAP, and see for yourself.
1. Lowers Operating Costs
As a business, your main concern should always be your bottom line. Maintaining outdated technology is not only a waste of time but of money as well. On the other hand, there are technologies out there that can significantly lower the cost of operating. For instance, in the past, companies had to invest in huge data centres with lots of servers to store sensitive company information. Nowadays, we just upload things to the cloud automatically. In essence, they are made out of hundreds of servers spanning all across the globe, making backup storage not only safer but cheaper as well. The same could be said for using hosted IP phones and VoIP over the more traditional PBX system.
Overall, technology does a great job of keeping your business lean and profitable.
2. Gives a Competitive Edge
Here’s a bit of history trivia for you: how did Francisco Pizarro manage to conquer the entire Inca Empire with just 168 Spanish soldiers? He had a huge technological advantage, that’s how.
Cortez and the Aztecs? The same thing.
Beginning to see a pattern here?
Technology provides you with a competitive advantage over your opponent; business or otherwise. It can make the difference between failing and succeeding. Even if you were a successful business in the past, living off of your laurels means falling behind and becoming irrelevant.
Just take a look at Yahoo and Nokia. Both companies were dominating their respective markets. Yet, Yahoo refused to innovate and backed out on a deal to buy both Google (2002) and Facebook (2006) and vanished as a result. Nokia, on the other hand, was in denial that the future of the mobile industry was in software, not hardware; Steve Jobs launched the iPhone in 2007 and the rest is history.
3. There’s a Need for Speed
Technological innovation brings with it increased speed and efficiency. For example, if your business relies heavily on a fast and secure Internet connection, consider upgrading to the latest tech choices.
DSL, for one, is pretty slow compared to other options (ranging from just 5 to 35 Mbps) as it uses plain copper wires (phone lines) that were primarily meant for the transmission of voice only. Cable internet is somewhat better than DSL (10 to 500 Mbps speed) but still lacking as it has much slower upload speeds; not to mention that it slows down during peak hours when everyone in your area is using it.
Finally, we have fiber-optic Internet that uses specialized cables made out of tiny strands of flexible glass and plastic to transmit data at a much greater speed than any other method. What’s more, high regional use has no impact on its performance whatsoever; so no more quarrels with your neighbours.
Therefore, if you want only the best, look for some exceptional internet fiber solutions to meet your current business needs and help scale your business.
4. Provides Better Customer Engagement
Today, it’s all about providing exceptional customer experience and turning loyal customers into brand advocates. This is where technology comes in handy. With the latest software, we can map out the whole customer journey — from beginning to end — and pinpoint the exact moments where the customer interacts with your brand. These highlights can then be used to determine whether the experience in question was poor — turning your customers away from you — or excellent, boosting brand loyalty and awareness. Basically, you get to see things from their point of view.
With such valuable insight in hand, you can work on making every interaction they have with your brand both meaningful and memorable. In the end, it’s about being there for the customer when they need you the most; as the old saying goes a friend in need is a friend indeed. They won’t forget this, so neither should you. Consequently, they will repay you with their continued loyalty.
5. Increased Security
Running your business on outdated software is not only foolish but dangerous as well. With the constant threat of new cyber-attacks, you’d just be putting your business in harm’s way. Moreover, on the hardware side of things, it doesn’t get any better. Holding on to outdated servers can cause data loss in the form of corrupt files, and malfunctions resulting in crashes. This will not only slow your business down but potentially grind you to a halt. Not to mention that, in the end, you’d still have to invest money to restore equipment — which you should’ve done in the first place — and upgrade them to the latest specifications.
In a nutshell, keeping both your software and your hardware constantly up to date ensures that your sensitive business data is safe and secure from scammers and would-be hackers alike.
Living in the past and not coping with the present situation brings stagnation. Ensure the survival of your business and upgrade your tech right now!
Keith Coppersmith is a business and marketing expert who has experienced both the rise and fall of many businesses. As a regular contributor at BizzmarkBlog, he enjoys writing and providing insight into the marketing industry based on both practice and theory.