How does outdated technology affect your business?

No matter the business, technology plays a critical role in getting things done. Whether it’s to build customer relationships, dive into key business insights, or deliver satisfying products, the ever-expanding network of hardware, software, and other computing devices helps facilitate work with greater speed and agility.

Mobile devices, software as a service (SaaS) solutions, and Internet of Things (IoT) technology make it easier than ever for organizations to maximize productivity, improve efficiency, and facilitate work from virtually any location. But to stay ahead of the competition, business technology can’t be seen as a monolith that only needs attention when something isn’t working.

Relying on outdated software, unreliable hardware, and outdated infrastructure can seriously impact business performance, place customers at risk, and ultimately affect the bottom line.

When employees were forced to work from home during the Coronavirus pandemic, companies with outdated technology and business processes were hit hard in the following areas:

Security breaches

Modern digital security requires more than an antivirus application. Between the ever-evolving cybersecurity threats posed by hackers, phishing, and malware, organizations need to be running up-to-date technology to safeguard personal and proprietary information. In 2019, new types of ransomware attacks grew 46%, leaving companies without a modern security infrastructure poorly equipped to handle such events.

Covid-19 has brought its own new security challenges for businesses. Working remotely exposes organizations to a wide range of new security risks. For companies unaccustomed to remote work before COVID-19, hastily issuing laptops or asking employees to work from their personal tablets may have left workers with devices lacking enterprise-grade security. Although working from a home laptop may seem like a convenient option to get remote work done, personal devices can introduce a host of new threats into a corporate network.

Regardless of the specific type of security breach, companies must have modern safeguards in place to protect business imperatives and customer information. Choosing to rely on outdated technology leaves systems far more vulnerable to potential attacks.

Online purchasing, e-invoicing, and payment portal solutions

Shopping over the internet has become a staple of modern life. By the end of 2020, it’s predicted that retail e-commerce alone will reach over $4 trillion in the United States. During the COVID-19 pandemic, the reliance on e-commerce became even starker, enabling individuals to safely order groceries and other supplies without jeopardizing personal or public health.

Any company seeking to do business today needs a modern purchasing and payment infrastructure, no matter the product or service. Between the rise of digital wallets, peer-to-peer payment systems, and e-invoicing solutions, customers should have multiple options to pay invoices and sales orders. Customers expect to be able to buy products anytime and anywhere. If your business does not have the technology and processes in place to make it simple to accept and process payments electronically.

This is especially true for companies that routinely issue and process invoices. Relying on paper-based payment methods can slow down productivity and leave significant room for human error, placing a business several steps behind competitors equipped to handle real-time payments.

Collaboration tools and access to company resources

Mobile devices and cloud technology has made it easier than ever before for employees to work remotely. At the onset of the coronavirus pandemic, the need for scalable, modern technology to enable employees to stay productive from a distance came into clear focus virtually overnight.

Whether it’s during a once-in-a-generation public health crisis or on a flexibly scheduled Friday, employees need up-to-date collaboration tools that make it easy to work from anywhere.

Instant messaging solutions are nothing new to the modern workplace, but in the era of remote work, they take on an increased level of importance to keep employees connected. Popular options like Slack and Microsoft Teams let users communicate one-on-one, in small groups, and in specific channels dedicated to a particular topic or project. Modern chat solutions also offer comprehensive integrations with apps like Google Docs and Dropbox for effortless file sharing and collaboration.

Virtual desktops, cloud-synchronized chat apps, and video conferencing solutions can provide employees access to the same types of solutions they’re accustomed to using in the office.

Without a commitment to deliver modern, connected solutions, employees can find themselves stuck using outdated equipment that limits access to crucial business functions. A lack of cloud infrastructure can leave important applications or files unable to be accessed without being physically present, and outdated computing hardware can force remote workers to struggle to carry out even the simplest of work tasks.

DWD Technology Group is here to help with any remote work situations. To explore and implement new technology to empower remote employees, contact DWD Technology Group today!