Recent research shows that Canadian SMBs have been incurring losses because of using older technology. According to the findings, any PC that is older than four years has the potential to affect business productivity significantly. The losses that one incurs by using such systems are quite costly.
A close outlook
Canada thrives a huge deal in business. Home to over 1.2 million small and medium businesses, Canada has gone against the odds to become one of the most successful states in the US. However, that doesn’t mean that one should ignore the amount of money that gets lost unnecessarily through the use of older technology.
Some of the major technology companies in Canada include Shopify Inc (NYSE:SHOP), Etsy Inc (NASDAQ:ETSY) and Costco Wholesale Corporation (NASDAQ:COST). There are quite a large number of businesses in Canada relying on technology . That means that much is being lost or at stake.
Techaisle and its findings
Research body Techaisle projects that the act of keeping one PC for more than four years ends up costing the users almost CA$1,710 yearly. This is undoubtedly a significant amount that would even buy or replace the device. The research proposes that the business should instead resort to the purchase of new devices. That would help cut a huge deal on the losses that usually result from the unproductive old models.
Continued use of an old model usually translates to increased repairs and downtimes. This doesn’t serve businesses right because a lot of hours get lost in the process.
The leading researcher Techaisle had to conduct some elaborate interviews to get to the analysis phase. The interviews were conducted among 175 IT and business decision-makers. All the interviewees worked with both the small and medium IT businesses operating in Canada.
According to the research, it was concluded that the impact was massive. That was considering that quite a significant number of the businesses still depended on the older devices. Shockingly, all the organizations that got involved in the research admitted to using PCs older than four years old. Overall, about 46% of all the PCs that these SMBs owned were four years old and above.
The surprising aspect according to analysts was the management approach of these businesses. Findings showed that about 50% of them were adamant when it came to adhering to the tech refresh policy. Others lacked even a single policy in place and these are some of the reasons money continues to be lost.
Businesses need to employ transformative approaches in production. In the coming years, newer technologies will move in and it will be important to take advantage of them. That is one of the best ways to increase productivity. Some of them include 5G, AI, Blockchain, and IoT. The cloud-based systems are about moving businesses to the next level and all businesses need to embrace them to increase productivity. Analysts say that business dynamics are here to stay and that all businesses need to shape in.