What are the risks of not investing in IT?

It’s understood that small to medium sized enterprises (SMEs) must often operate on a restricted budget.

As a result, reducing outgoing costs is always desirable, and many firms see technology as an area where they can limit spending.

In this article, we underline some of the risks of cutting corners cost-wise on IT.

Poor connectivity

Fast and reliable broadband has become the lifeblood of modern business.

If a team can’t access the internet effectively when members need to communicate with clients, access applications for work, use video conferencing or carry out admin tasks, they become unproductive – leading to lower profitability for firms.

Using low-cost broadband that is inferior can severely hurt your business’s ability to compete.

Outdated technology

When computers and the software they run are outdated, they not only perform poorly, but they become vulnerable to cyberattacks.

Beyond a certain time, technology manufacturers no longer offer support for older equipment and applications, which means they are left unprotected.

If cybercriminals penetrate company systems, they can cause devastating data breaches that are expensive issues to fix. From loss of reputation with clients to fines for negligence with data regulators like the ICO (Information Commissioner’s Office), the costs of using outdated IT equipment are far higher than investing in new machines.

Unskilled staff

Hiring a team of IT professionals in-house can be tough on budgets, but outsourcing to a team of qualified engineers can keep costs manageable, allowing firms to access a wider skill set.

For fully managed IT support, contact 127 Solutions today.