Office equipment can be expensive, and many business owners feel that the costs of updating their equipment can be avoided if the old equipment is still working.
After all, technology is developing all the time, and computers must be replaced much more quickly today than they did in the past. In other words, it doesn’t take all that long for a piece of equipment or a computer to become obsolete.
To some business owners, this means holding onto equipment as long as possible, trying to delay the inevitable cost of replacing equipment. The problem with this line of thinking is that the company is being negatively impacted in productivity in the name of saving some money!
Company image matters
An office full of outdated equipment doesn’t look very good to clients and customers, either. In 2013, Microsoft conducted a study revealing that 90% of customers would rather take their business elsewhere than deal with a business that is utilizing outdated office equipment.
Generally, customers want to feel like they’re dealing with a company that is at the cutting edge of its industry and is closely following technological trends. Think about it: if you were preparing for a presentation that required high-quality photo prints, and you entered a copy and print store to see outdated, clunky computers and printers, would you spend your money there? Chances are good that you would walk out again and find another place with newer equipment.
Productive versus busy
Of course image matters to customers, but productivity is the ultimate purpose of all office equipment. Outdated equipment makes your employees take longer to complete tasks, which is an inefficient use of company money at no fault of their own.
An older computer might take considerably longer to complete basic tasks that a new one would be able to handle in the blink of an eye.
For an hourly employee, this means they are being paid for time that is wasted as a result of inefficient office equipment. Most companies are strict about time theft, but in this case, it’s time theft caused by the company itself.
Updated office equipment running the latest versions of required software allow your employees to focus on productivity, rather than keeping them busy with nonessential tasks and waiting around. Imagine the increase in profit if your employees are able to enjoy a workflow uninterrupted by technological issues!
Safety and security
As equipment ages, it becomes ineligible for software updates. This might not seem like a big deal until you consider that software updates are often released to fix security issues, and older office equipment that can’t be updated any longer will be much more vulnerable to data breaches and hackers.
Security for your customers’ information should be a top priority, and valuing their privacy and safety means taking as many security measures as possible. A data breach is more than just an inconvenience, too– in fact, data breaches can end up presenting a significant cost to your business.
A 2021 study from IBM revealed that data breaches can cost companies millions of dollars. That money goes toward fixing the issue, but also considers loss of customers and the time it takes employees to handle it.
Compliance standards are also an important thing to consider. The Payment Card Industry Data Security Standard (PCI DSS) requires updated software to protect customers’ personal information. Failure to adhere to these standards might result in fines from the PCI.
A worthwhile investment
If you want the best for your employees and customers and value the data security of your company, you’re most likely already considering updated office equipment. Benefits to employee productivity, improved data security, and an improved company image are all very appealing – but is the cost still holding you back?
Fortunately, there are tax breaks in place for business owners that can allow you to write off the purchase of updated office equipment. After all, your office equipment is the lifeblood of what your company does every day.
At Central Business Equipment, we are happy to advise you on the best solution for your outdated office equipment. We’ll find the best replacements for your office space and budget, and get your company on its way toward streamlined productivity and increased profit. Reach out to us today to get started!