Alain Guillot

Life, Leadership, and Money Matters

Women working with two computer screens

5 Essential Technology Upgrades Your Business Needs

Sufficient technology is essential for any business, regardless of how big or small it is. If your business is running on old, out-of-date technology, then you are putting your business at risk by making it vulnerable to loss of productivity, inefficient working methods, frustrated customers and employees, cyber security risks, and many more. More importantly, all of this will lead to stunting your business growth, or worse, losing business revenue. 

Technology can often seem daunting, especially if it is not your area of expertise. It can also come with a large price tag. This, however, should not put you off. There are many companies and specialists out there who will be able to advise you and help you get the best technology for your business to suit your budget and requirements, and the costs are usually just an initial investment. This investment will save your business a lot of money in the future and can help boost business growth in many ways. 

Here are some of the most essential technological upgrades your business needs to take action on and get you started with business growth.

Upgrade your cyber security 

Cyber security should be the first, and most important aspect of the technology in your business that you regularly review and update, and should be taken extremely seriously. Even if you are a small, independent business, you are just as vulnerable to cyber security threats as larger corporations. A cyber attack is a threat to your computer network or system by someone who maliciously attempts to damage or disrupt it. Cyber threats and attacks can take many different forms, but some of the most common that businesses experience are phishing attacks, ransomware, and malware attacks.

Phishing attacks

Phishing attacks are attacks that mimic trusted contacts and provide you with a malicious link to click on or file to download. This then provides a gateway for the attacker to add malicious software onto your network or system, or see sensitive business information. They are growing more sophisticated by the day and often look like legitimate brands that are well known around the world. 

Ransomware

Ransomeware involves an attacker hacking your company’s data via encryption so that the company can no longer access any of its systems. In return for unlocking the systems, the company is forced to pay a ransom, which can be a large sum of money or leave their systems crippled.

Malware attacks

Malware attacks typically come from a suspicious download from a website, or an infected network connection or device by using malicious code to hack your device. The damage often created by malware attacks is irreversible, which means your business incurs significant costs.

Cyber attacks only have a negative outcome for your business, so securing your company and networks is vital. Make sure you invest in creating your own internal processes, include regular IT risk assessments, and find a trusted service provider to help you with anti-virus and anti-malware software.

Upgrade outdated hardware and software 

Outdated hardware and software often run a lot slower and are not compatible with modern technology and procedures. This will create a negative impact on your business by making you more susceptible to cyberattacks, customers and employees using the hardware and software will be more frustrated and unhappy which increases the risk of losing them, and inefficient working practices. This all leads to stunted growth and loss of revenue. You don’t have to purchase the most up-to-date software and devices every time they come out, but if you find that your business and productivity are suffering, and the cost of not upgrading is costing your business more than implementing an upgrade, then you may consider it. You also do not have to upgrade everything at once. It is a good idea to make a plan, set out a realistic budget, and upgrade your software and hardware in phases. This can help with costs, and reduce the disruption to your business. 

Upgrade to cloud

Cloud services have been around for a long time, yet many businesses don’t know enough about it and have not upgraded their systems. Cloud technology was created to be able to help individuals and businesses keep their data and information safe and secure while keeping systems and businesses moving forward efficiently. This is because as technology grows, so does the need for increased data storage, and existing methods are becoming more and more costly, and unsustainable for businesses to maintain and attempt to keep up. Cloud software, on the other hand, is hosted on a web-based server (rather than a physical server which costs to maintain and store). It enables individuals to access all the data and information that they hold easily, add administrative controls, and better organize for use.

Cloud software can benefit your business in a plethora of ways, including saving on costs, increasing security, flexibility, insight, collaboration, quality control, loss prevention, sustainability, and much more. Cloud software is also helpful as it supports businesses that decide to grow globally by streamlining processes, or moving to remote working or hybrid working methods, as employees are still able to access all the business information and work collaboratively on data. It also hosts a backup service, which means your data is safe, in the unfortunate event of a breach or data loss incident. 

Upgrade your website and/or sales platform

Upgrading the technology and platforms that you use for your website and/or online sales platforms is vital for business growth. As technology gets more innovative, so do search engines and their algorithms. If your website or sales platforms are running on old or outdated technology, then your results are going to suffer. It’s not enough to just have a platform. It needs to be working efficiently, and use up-to-date technology to ensure it has a chance at being visible to your ideal audience. If your website is not mobile or user friendly and is riddled with old technology and issues, then search engines will not see the value in ranking your website in a good position, no matter how good your services or products are.

The digital world is constantly evolving, and while you might think old school themes and technology is serving you well, it can actually be harmful, and drive customers away, even if they do find your website. It is important to look out for old and outdated themes, codes, and plugins, as this can affect functionality for users by slowing it down or warping its responses, as well as leaving you open for cyber attacks. The old software may also mean your website is no longer compatible with the new, and growing technology used in modern web browsers and devices. If you do not have the expertise, you can outsource this work to a technical specialist or a website developer.

You will also need to consider upgrading your website to be mobile-friendly. This is the most popular way customers are searching, and mobile-friendly sites will be favored by search engines. This means you must consider the technology, design, and functionality of your website, and ensure it is both responsive and adaptive. Lastly, you will need to look over the technical health of your website and ensure it is all up-to-date. This includes checking the files that are corrupted or loading slowly, images that are not optimized, poorly performing themes, even underpowered hosting, and insufficient bandwidth. 

Upgrade your internet package

If you are running a business, even a brick-and-mortar store that is solely in person, a fast, reliable, and secure internet package is important to the running, and efficiency of your business as it is likely that you hold sensitive business, employee, and customer information. Make sure you upgrade your internet package to a trusted provider with a good record and reviews, who can offer advanced security features. If you have a large team, or at least a growing team of employees, upgrading your internet can take away the pain of using an unreliable and slow connection, which will stop them from working efficiently and hold them back, as well as your business back. A better, faster internet connection will mean employees can meet and excel the demands of the business, work with better practices, uplift morale, and allow many users to stay connected all at once, without straining the network. Ensuring that you have enough speed and bandwidth, will leave you with less downtime and disruptions. It will also help you scale your business, and stay competitive. 

Internet packages are always evolving, and some now even come with online phone packages too, which is a great way to support your employees, and your customers by streamlining processes, and saving you money at the same time. 

It is important to assess the requirements of your business, to uncover what kind of technological upgrades you should make that will help your business grow, and to ensure you upgrade only where necessary. Don’t just leave it there though, make sure you conduct regular technology assessments to see where you are vulnerable or what is impacting your business growth.