INTRODUCTION

Technology has changed the way man does things since time immemorial. As time goes by, technology gets even better offering new possibilities and unlimited opportunities for innovation. Like a decade ago, who would have thought everyone would have access to the internet. The internet offers numerous benefits for personal and business use. It is a must for businesses to invest in technology to gain a competitive edge over their competitors. It is also necessary for speed and productivity.

Managers and business owners invest in technology on a regular basis as superior technologies arise. Investing in new technology can be very tricky and the cost can also be steep. Managers need to analyze and determine which and when to purchase new tech and replace older technology. Here are some helpful tips with regards to investing in technology for your business.

Computers

Every modern business today would be using computers for a lot of things from documentation to complex business processes. Like any machine, they do require regular maintenance, break down and eventually become obsolete as faster computers become available. So, how long should a typical business hold on to their desktops and laptops? Given that they don't break down, replacing computers can be significantly beneficial. This can be after three to five years depending on the applications used.

Yearly, new technologies for computers offer around 5% to 10% performance improvements versus the previous generation. With that, it is not wise to replace computers yearly as the cost outweighs the performance benefits. After three years, 15% to 30% performance improvement might be significant for certain computing-intensive applications. This includes video editing, 3D rendering, financing, and scientific modeling, data mining and others. If your business is using such applications, investing in new computers might be worth the cost.

Software

Software gets updated from time to time. While software can be costly, it would be wise to invest in newer software from time to time. One of the best indications of replacing old software is when the developers stopped supporting the software. For example, Microsoft announced that they will be ending mainstream support for Windows 7 by January 14, 2020. After the date, Microsoft will no longer provide security updates or support computers for the 20-year old operating system. With that, computers using Windows 7 is vulnerable to different security issues moving forward. For businesses, using computers that are vulnerable to cyberattacks can be very costly. So, before January 2020, businesses using Windows 7 should consider upgrading to newer operating systems and ensure data security.

Smart Apps and Automation

Investing in smart apps can change that way you do business today. Years ago, nobody would think about ordering food on a touchscreen display. An example would be the self-ordering kiosks found in fast-food chains today which is a type of app. This allows businesses to replace humans with a machine that eliminates human error as the process becomes automated. Many other smart applications help businesses automate business processes such as quotations and estimations, inventories, orders, and others. Plexus Software offers such automation, contact us to learn more.

Cybersecurity

Cybersecurity is important whether your workers only use the basic office applications or your business handles sensitive information. It is never recommended to go cheap with cybersecurity considering the rise of ransomware aside from viruses and malware. While you can find free versions of most antivirus and anti-malware applications, its best to invest in premium versions. Especially those that offer full-pledged cybersecurity. In 2017, the WannaCry ransomware had inflicted over 300,000 computers. One of the largest agencies struck by this ransomware includes the National Health Service hospitals in Scotland and England. They affected various computer-dependent machines from refrigerators to MRI scanners. Avoid such catastrophe, invest in the best cybersecurity you can acquire.

Investing in the right technologies will not only help you remain competitive and productive but also protect your business from dangers.

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