When to Upgrade Your Business Technology & How it Can Lead to Growth

Only change can allow a company to grow and prosper. If things remain the same, there will not be any growth. To be competitive in the long term, a business must be flexible to grow and change.

The difficulty lies in knowing when it’s time to make changes, and in many situations, business owners end up backed up into a corner where they have to make system upgrades in desperate situations. 

And such situations can end up costing a company dearly. But there are ways to actively look out for signs and implement proactive strategies. 

Let’s take a closer look. 

TOP WARNING SIGNS TO UPGRADE YOUR BUSINESS TECHNOLOGY

Here are five signs that you have fallen behind technology trends and need to seriously invest in upgrading your IT systems. 

1 – BUSINESS EXPANSION SUCCESS

The excitement of a major new client and operational expansion can quickly turn to stress and worry when you realize that your existing technology simply won’t help you deliver the same product or service. 

Whether you need to implement new artificial intelligence into your data analysis or simply need a new business phone system, success always comes with a new set of challenges.  

2 – EXCESSIVE IT ENERGY USAGE

There are many companies that don’t fully appreciate the amount of energy they are wasting on outdated hardware. And in many cases, the savings in electricity can provide a huge ROI incentive for a business’s technology upgrades. 

3 – DISRUPTIVE DOWNTIME

One of the most serious signs that you need to invest in IT upgrades and emerging technologies is if your company is regularly suffering from system slowness or downtime. 

In many ways, slow systems can be more frustrating than an outright failure, and many owners will put up with slowness for far longer than they would with regular system downtime. 

4 – REDUCED PRODUCTIVITY

The only way you can become one of the business leaders in your industry is by achieving maximum productivity. And in today’s digital age, that means following all the tech trends from artificial intelligence to automated systems monitoring. 

If you have noticed that your productivity is dropping and that your competitors are outpacing you, then look at IT upgrades as a key part of your solution. 

5 – REGULATORY AND SECURITY CONCERNS

Another major issue that many companies encounter with outdated technology is data security and the fallout from regulatory compliance issues. With cybercrime and industry regulations constantly changing, you have to stay current with technology trends. 

Failing a compliance audit could become a costly problem that many companies fail to recover from. 

BE PROACTIVE SO YOUR BUSINESS TECHNOLOGY DOESN’T FALL BEHIND!

Even today’s most advanced technologies could become outdated in a few years. This is the speed at which technology is constantly evolving. Whether it’s augmented and virtual reality or machine learning, all existing technologies will become outdated. 

Before that happens, you would have probably upgraded to the latest and greatest technology, which will soon need to be superseded by yet another. As a result, the cycle continues.

REACTIVE VS. PROACTIVE

Due to rapid technological changes, most firms do not have a proactive strategy. Businesses should anticipate when new technology will become available and plan accordingly. This will allow them to stay ahead of the rest of the industry. 

In practice, however, most businesses use a reactive strategy. 

Businesses tend to address problems only when they have become more serious than they are before they become an issue. While they may be able to find a solution, it doesn’t make them proactive, with technology upgrades then taking more time to implement. 

Software and hardware updates are often late or done only when it is absolutely necessary. This could be due to logistics, time constraints, or budget limitations. But it’s never a good approach in the business world. 

KEEPING UP WITH TECHNOLOGY’S CHALLENGES

If you don’t want your company to fall behind the competition, you must constantly catch up with new technology. It can, however, be exhausting, time-consuming, and expensive. 

Consider the thousands of dollars you’d have to spend every two or three years or so on new hardware and other devices. Think about how many hours your employees would spend updating company software and then learning how to use the new emerging technologies.

What about businesses that lack the financial resources to keep up with the frequent changes and updates? Despite these obstacles, it is necessary to keep up with technology and work toward business expansion and success.

TECHNOLOGY TRENDS AND BUSINESS GROWTH

Information technology has seen a rapid increase during the past decades, resulting in advances in many fields, especially in artificial intelligence and machine learning. 

With modern technology, operations are faster and more efficient. But how do technology and business expansion go together? Well, here are some of the most versatile and adaptable tools available to today’s business. 

MANAGED BUSINESS RESOURCES

As your company grows, it becomes harder to manage corporate resources effectively. It doesn’t matter if it’s money, equipment, office space, or any other resource; you need to manage them all effectively to ensure the long-term success of your company. 

Technology offers many options to manage these organizational assets. 

A managed IT provider can assist you with automating many of these procedures using integrated programs that run independently. This will allow your staff to concentrate on more important business activities.

AUTOMATION AT THE WORKPLACE

It is difficult to perform many of the daily tasks required for running a business. Some of these tasks include managing client information, billing, systems monitoring, and tracking sales. Thanks to new technologies, including cloud solutions, most of these tasks can be automated. This allows for significant time savings and lowers overall corporate costs, and by removing legacy software and hardware, you make your IT budget go further.

CLOUD STORAGE AND COMPUTING

Even though some businesses are still a little hesitant to move to the cloud, cloud storage and computing have become the preferred option for businesses due to their many flexible advantages. 

Cloud computing is becoming more popular than traditional on-site storage and legacy software because of several reasons. 

These reasons include better resource management, improved efficiency, more computing power, business mobility, and cost-effectiveness. Cloud platforms offer most of the software and services that you require to run your business. This means that you won’t need to spend money on physical hardware or custom software development.

INFORMATION AND CUSTOMER DATA PROTECTION

One of the threats in this digital era is the possibility of cyberattacks. Hackers are always lurking in the shadows looking for ways to steal your data and cause havoc on your network. 

You can protect your company by using modern cybersecurity protection such as secure storage solutions or the highest level of network protection to safeguard your company against any type of internet attack around your systems that exchange data.

TECHNOLOGY FOR MOBILE DEVICES

Mobile technology has greatly improved and enhanced business operations. One of the advantages is the faster and more efficient communication between employees. 

The technology allows for more interactive touchpoints, which results in a better customer experience. It simplifies vendor administration, increases network security, and makes it easier for specialists to get advice.

And with the right employee development and training, you can integrate with other technologies in your business for a seamless experience that provides a competitive advantage.

WORKING FROM HOME

Many people have only discovered the benefits of working from home in the last few years. 

Thanks to new tech trends, people can complete their tasks and attend meetings from anywhere in the world with their connected devices. This arrangement can save both time and money while also increasing productivity. 

In addition, it will allow you to collaborate with experts from around the globe via digital connections to enhance your business.

OPEN SOURCE SOFTWARE

Open-source software development may be one of the most effective options for growing companies. This option is a great way to expand your business operations, regardless of its size or industry. 

Open-source software excels in many areas, including e-commerce and multimedia, workflow management, security, and server software.

PLANNING FOR BUSINESS GROWTH

It is normal for business owners to dream of success and expanding their business. But just dreaming is not enough. If you want to ensure that your business succeeds, you must also understand how to plan business expansion. 

One of the most important things you can do for your business is to plan for growth. And here are five compelling reasons to do this.

1 – IMPROVE BUSINESS DECISIONS

From the moment you start your business, many decisions must be made. These decisions will often be made on the spur of the moment, without taking the time or opportunity to evaluate the pros and cons of each option.

It’s easy to make poor decisions if you don’t have a plan, especially if you’re expanding your business by opening additional locations and recruiting new staff. However, a solid growth-oriented business plan can help you make the right decisions and support them with the ideal technologies.

2 – CLEAR AND ACHIEVABLE BUDGETING 

Budgets are essential to keep your business’ spending under control. The expansion will come with a lot of expenses. And a well-planned strategy will ensure that your firm has enough cash flow to cover expenses and income.

It is impossible to start a business if you don’t know where your money is going. Your firm’s cost and budget planning should take into account not only your current situation but also future potential.

3 – AVOID SOFTWARE LICENSING LIABILITIES

Today’s business environment requires several types of software and licensing. Neglecting to adhere to the terms and conditions of a software license could lead to serious consequences. Software licensing is a key part of any business strategy.

Many of the software systems used by businesses these days can be expensive. You should prepare your office for which software you will use from the beginning. If you only need one, don’t purchase multiple versions.

4 – TRANSITION EASIER WITH A PLAN

In business, change is inevitable and a sign of progress. Your business structure must grow when you add new employees or expand your company to other locations.

You might become lost in these changes if you don’t have a well-thought-out plan. 

However, you will not be surprised by unforeseen events if you can establish good planning tactics for managing whatever changes may arise. Instead, you’ll be able to transition smoothly into the next phase of your company.

5 – STAY ON TOP OF INFRASTRUCTURE CHANGES

Technology is constantly evolving in this digital age. You must be ready to perform periodic updates and upgrades when running a business. 

If you are not at the forefront of your industry, it will have a negative impact on your company. Therefore, infrastructure modifications should be a major part of your business strategy.

STAY ON TOP OF YOUR GAME WITH A RELIABLE MANAGED SERVICE PROVIDER

Is it possible to be proactive so that your technology doesn’t fall behind? There is, thankfully, a solution, and that is to hire a reliable managed service provider.

A managed services provider, or MSP, can help many businesses run more efficiently when it comes to IT. They can help your organization take a proactive approach to technology maintenance. 

And you won’t have to worry about staying on top of new updates or keeping an eye on your system for indicators of trouble because they’ll take care of it. Let’s look at some of the more noticeable advantages that utilizing a proactive approach to your IT can provide.

SAFETY IMPROVEMENTS

Cybercriminals and hackers are constantly developing their tools. As part of a proactive IT approach, an MSP should offer state-of-the-art cybersecurity solutions that protect your business and data silos from online attacks. 

They will identify weak points in your systems and fix them in order to protect your business and speed up recovery in case of an attack. With the rapid pace of changes in cybercrime, you’re only as safe as your weakest point. 

LITTLE DOWNTIME

Unexpected system failures can cause significant downtime for your entire company as your IT staff attempts to bring it back online. This will cause business operations to stop and most likely cost you a lot of money. 

An MSP can help reduce or prevent such downtimes. To minimize business disruptions, regular preventive maintenance and system updates can be performed outside of business hours as a cost-efficient way to stay on top of your IT systems.

MORE EFFICIENT PERFORMANCE

It’s not only about avoiding difficulties when you’re proactive. It’s also about boosting cloud storage activity and streamlining corporate operations. By integrating shared applications and automating business processes, you can dramatically improve your organization’s performance.

And an MSP will help you identify all the areas where new investments will provide maximum ROI and productivity gains. 

CALL US FOR A FREE TECHNOLOGY UPGRADE CONSULTATION

If you have any concerns about your existing systems not fully supporting your processes, then call us today for a free consultation. During this meeting, you will learn exactly what we can provide and what kind of ROI you can expect. 

With ever-changing tech trends, we ensure that our IT and business analyst team has the training, experience, and expertise to provide the best possible advice. 

This could be the one phone call that puts you on a path to becoming the most competitive company in your industry.