Merchants are great at stretching a buck. That effort normally includes making all kinds of equipment last as long as possible including service vehicles, tools and business computers. While it may be a good idea to squeeze a few extra miles out of a delivery van, doing that to a business computer that holds all the company’s valuable data isn’t very wise. According to a study by J. Gold Associates, if PCs are 5 years old or more:

  • Employees using them are 29% less productive.
  • Those PCs are costing up to $17,000 a year each in lost productivity.
  • And each one wastes an average of 11 hours a year because of slow start up.

“Best practices dictate that you should look at replacing your computers every three years,” says Mike Horn, Paladin Data Corp senior operations manager. “Your business relies on this equipment, so if you have your customer’s interests at heart, it’s important to run on new equipment.” That means keeping hardware up to date is a good idea and here are just a few reasons to upgrade.

Outdated security is probably at the top of the list. In an age when 55% of small businesses report a cyberattack each year, network security is crucial. According to a PwC report, data loss can cost small businesses up to $148,000 per incident.

Slow performance is an obvious and key reason to upgrade. If your computers are more than 3 years old, chances are you’re running newer and more taxing software than when you purchased the system. Old hardware also slows customer checkout.

System requirements needed to run a digital business platform can be more demanding on older PCs. It can also lead to data loss, which can cost a business time, money and customer loyalty. If any of this sounds familiar, it may be time to consider upgrading your hardware.