In 2023, millions of businesses from all sectors of industry rely on technology to drive change and improvements that can lead to increased profitability and efficiency. The pace of technological advancements is such that some applications or hardware can become redundant in a relatively short period. This can often require the need for businesses to commit to ongoing expenditure in tech and IT systems to ensure that they remain fit for purpose. The average total spending on IT and tech in business is approximately 8.2% of total revenue from a company. This can represent an immense sum of money and may lead to questions being asked by those within the industry as to whether this ongoing financial outlay is worth it. The short answer is a resounding “yes” for many different reasons. In this article, three key reasons why it is vital to upgrade IT systems and keep abreast of the latest tech developments will be explored in detail.
When a company invests in the latest technology, it will be able to benefit from the most advanced technological innovations. These will often include improved security features that reduce the risk of successful cyber-attacks taking place. For example, many modern businesses now use application programming interfaces (APIs) to allow multiple applications to communicate with each other. This infrastructure is vital in any business that uses a range of applications and programs that need to operate together. However, the latest developments in this field have led to the realization that a secure api gateway is also needed for this IT. API gateways allow a single point of access to a system and are protected with encryption and authentication software that minimizes the risk of malicious traffic entering the system. In short, API architecture hugely benefits from the latest technology such as API gateways to protect a business from cyber-attacks.
Unlock Hybrid Working
Hybrid models of work are becoming extremely popular in a wide range of industries. Many people experienced hybrid models of work during the first stages of the Covid-19 pandemic and found that this model of working allowed them greater control over their working day with the ability to balance other home-based tasks throughout the day. Today, many workers seek employment that offers hybrid or even fully remote forms of working. As such, a business must invest in the latest cloud-based tech and remote applications to allow hybrid working to remain effective. Investing in video conferencing software can help teams stay connected when they are remote working and using the latest task management apps, such as Trello and Monday, ensures that all staff are aware of progress and responsibilities for shared projects.
As a final point, it is important to consider that investing in the latest business tech is a way to improve productivity. Newer IT hardware features faster processors and memory, which can allow more efficient multitasking and the use of complex applications that have higher system requirements. The latest software can be used to streamline workflows (such as the previously mentioned tasks and project management apps) and many of the latest applications require modern IT hardware to run effectively. Video conferencing software may also have high system and bandwidth requirements to host larger-scale meetings and collaborative sessions. Put simply, by investing in the latest hardware, multiple programs can run more quickly, and the most modern applications can be used to boost productivity.