Remember your favourite pair of jeans? You know… the ones that were so comfortable that you kept them long after they went out of style. Like those jeans, many organizations will hold on to legacy technology, long after it is outdated for the same reason… comfort.
Technology has entered a period of exponential change and legacy technology is problematic. Continuing to use outdated technology of all kinds can be costly far beyond finance.
Defining Legacy Technology
Legacy technology is defined as any technology, software/hardware or systems that are obsolete or out of date. The fact is, legacy technology is more common than you’d expect and can be putting your business at risk.
There are several important reasons to move on from legacy systems including:
• Data Breaches – Legacy technology invites cybercrime. Vendor support is typically non-existent for legacy systems, which limits upgrades. In addition, improvements in security are often not accessible in older systems.
• Expensive Functionality – Revamping outdated technology can be costly, but running older systems also increase operating costs. Older hardware lacks modern energy-saving technology, and system maintenance is expensive.
• Compliance Issues – Legacy technology may not meet compliance regulations. For example, in the medical industry, outdated software that fails to meet HIPAA compliance standards can result in severe financial penalties.
• Loss of Business – No matter what industry you work in, offering outdated solutions and ideas derived from equally outdated technology will prompt customers to look elsewhere for better answers.
• Unreliability – Many companies take an “if it’s not broke, don’t fix it” attitude, and hold on to legacy systems believing they still do the job. If that’s the case, consider the consequences if something goes wrong.
The Fact is, Saying “No” Can Cost You Big
Replacing legacy technology comes with a few downsides, most obviously the cost. Plus, there are the time and costs involved in testing new systems and training users. But the fact is, are you comfortable with continuing with old technology and the costs involved to maintain it, along with risks if it fails? Maybe it’s time to embrace the new.
The fact is, saying yes to these questions can be expensive, but saying no can be catastrophic to your business. Are you ready to learn more? Give a hubTGI representative a call today and let us show you all of the benefits of retiring your legacy technology.