Nobody likes spending money on fixing things that are broken – cars, houses, TVs – but people still do it because they have to.

Yet, when it comes to computer systems, some businesses continue to use software that is out-of-date, putting their business at risk to viruses and cyber-crime activity.

According to a study by Intel, PCs over the age of three years old are 28% more vulnerable to viruses. If your business works off old laptops of the same age, that figure increases to 58%.

Over 40% of cyber-crime attacks last year had been targeted on computers that had been updated 2-4 years prior because, as technology gets older, the companies that build them stop releasing patches to update them.

These patches are sometimes specifically designed to protect against cyber-crime – the very thing you’re opening yourself up to by keeping old technology.

Take Microsoft Windows as an example.

In 2014, they stopped releasing updates for Windows XP, in 2017 they’ll do the same for Vista and in 2020, Windows 7 will no longer be available to be updated.

A client’s perspective…

Keeping old technology won’t just be detrimental to your business, either. A study by Boston Consulting Group (BCG) revealed that 90% of customers would take their business elsewhere simply because old technology doesn’t look as good and they don’t trust it.

Cyber-crime continues to be on the rise, and at a time where security leaks are at the forefront of the customers’ minds, they will need that reassurance that your business is current and up-to-date on the technology front so that they can trust you with their data.

You want your staff to work…

And then there are the people within your actual business. Your staff. There is nothing more demotivating than having a failing computer whilst sat at your desk.

Literally millions of hours per week are lost due to technological issues – 7.5 million to be precise. That’s 11 days per employee per year.

The issues? 59% of the Chelsea Apps Factory (CAF) survey said that their personal phones were better than their work ones, 50% said that their home computers were better and 71% said that their home broadband was better.

Think of the long-term cost…

At first glance, it will feel like it’s cheaper to keep your teams’ numerous Windows Vista laptops running, but SMEs are spending anything up to £404 per year per PC on repairs – the cost of a brand new one.

The key is to not think of the tangible cost of keeping old technology, but think of the hours you are losing when your Wi-Fi won’t connect or your staff’s laptops need resetting.

If cost is the only reason you are keeping old technology in the office, then asset finance may be the way to go so you don’t have to fork out a lump sum.