4 Tell-Tale Signs Your Business’ Tech Stack Is In Need of an Upgrade, According to Stephen Kurtz

On average, large businesses use over 200 apps to help run their business. Your company’s tech stack can help streamline and simplify a wide range of tasks. However, finding a good set of tools to use doesn’t mean that you can take a set-it-and-forget-it approach to technology.

I recently had the opportunity to speak with Stephen Kurtz, president of Total IT, a managed IT services provider, about the importance of regularly upgrading a company’s tech stack. As he reveals, there are several tell-tale signs businesses can use to identify when their tech needs to be reevaluated or updated.

1. Performance Issues

“Performance issues are often the first thing people at a business notice when they need to upgrade their tech stack,” Kurtz says. “This could include things like systems that lag or take a long time to load, causing significant delays in what would otherwise be a fairly straightforward task. Or it could go so far as a software tool that frequently crashes, disrupting work and causing you to lose data while in the middle of a project. Basically, performance issues cover anything that makes using technology a burden.”

Performance challenges can result from a wide variety of issues, such as aging computers or apps that are no longer supported by the developer. Left unresolved, bugs and crashes can hurt your team’s productivity and ability to effectively serve clients, potentially damaging your reputation and reducing profits.

Preventing performance issues by upgrading your tech stack can also increase engagement and satisfaction among employees by removing a source of frustration from their work routine, resulting in further productivity gains.

2. Security Risks

While performance and productivity issues are certainly troublesome, Kurtz is quick to cite digital security risks as a top reason why tech stacks need to be kept up to date. “Malicious individuals are constantly developing new forms of malware to gain access to your business and its data,” he explains.

“When you use outdated technology, your information becomes more vulnerable because your software and apps are no longer getting updated to account for these new threats. Small businesses can become an easy target for hackers simply because they fail to implement needed updates for the latest threats. The fix is easy: use devices and software that are still getting supported with software updates so you can minimize your security risk.”

Many small business owners fail to make needed security upgrades to their tech stack due to a false sense of security — in fact, as a report from Verizon highlights, while 57% of small business owners don’t think they would be targeted by cyberattacks, small businesses are targeted in 43% of data breaches due to a lack of proper security.

3. Increasing Maintenance and Support Costs

“In some ways, your business tech stack is comparable to a car or appliance,” Kurtz relates.

“Depending on the age, cost and overall performance, there are times when it makes more financial sense to spend your money on repairs and maintenance rather than paying more for an upgrade. But with IT in particular, if you find yourself frequently paying for IT support and repairs, it’s time to evaluate the long-term costs of upgrading to a new, more reliable system.”

The direct costs associated with IT support calls aren’t the only expense that can result from an outdated tech stack. Depending on the nature of your business, tech-related downtime can result in lost productivity and sales, directly hurting your bottom line.

And outdated tech that succumbs to a security breach can result in significant losses — in fact, the average cost to recover from a ransomware attack reached $1.82 million in 2023. Long-term, the costs of replacing outdated tech hardware and software will be the more cost effective option.

4. Cannot Run New Applications

Continuing to rely on outdated hardware or software can make it more difficult to add new applications to your tech stack. “Outdated technology may not be compatible with new applications or software updates, making it harder to access the latest resources your company could otherwise use,” Kurtz notes.

“One of the biggest examples of this is how so many of today’s business apps offer integration with other apps, allowing you to put together an all in one solution that specifically caters to your business needs. If you’re still using outdated hardware and software, you’ll miss out on those integrations, which keeps you from being able to operate at maximum efficiency.”

This inability to support new applications can also make it harder to remain competitive in your niche. Notably, the U.S. Chamber of Commerce reports that since 2020, small business owners who were “power adopters” of new tech were far more likely to increase profits, sales and employment than those who were “low adopters” of similar tech resources.

Make the Most of Your Tech Stack

The way a business uses technology will either streamline and improve its operations, or become a stumbling block that hinders its progress. By regularly evaluating the apps and software that make up your tech stack and making changes as needed, you can ensure you’re making the most of available tech applications for your business.

Jordan French is the Founder and Executive Editor of Grit Daily Group, encompassing Financial Tech Times, Smartech Daily, Transit Tomorrow, BlockTelegraph, Meditech Today, and flagship outlet, Grit Daily. The champion of live journalism, Grit Daily’s team hails from ABC, CBS, CNN, Entrepreneur, Fast Company, Forbes, Fox, PopSugar, SF Chronicle, VentureBeat, Verge, Vice, and Vox. An award-winning journalist, he was on the editorial staff at TheStreet.com and a Fast 50 and Inc. 500-ranked entrepreneur with one sale. Formerly an engineer and intellectual-property attorney, his third company, BeeHex, rose to fame for its “3D printed pizza for astronauts” and is now a military contractor. A prolific investor, he’s invested in 50+ early stage startups with 10+ exits through 2023.

Credit: Source link

Comments are closed.