The Spending Gap: Is Your Business Facing This Common Challenge?

On the other side of the covid-19 pandemic, a wave of ‘baby boomers’ deciding to retire has begun to swell; over 10,000 baby boomers retiring daily, the workforce is undergoing a significant shift​. That means that, for many, small to medium enterprises (SMEs) face a unique and unprecedented set of challenges.

Many boomer-owned businesses have not kept pace with modern IT infrastructure, their focus has often been on preserving wealth and ensuring financial stability rather than making substantial new investments in technology. This conservative approach can result in underinvestment in tech, particularly in areas like cybersecurity, where the immediate benefits might not be as visible​​.

This approach has left many businesses with outdated systems that struggle to run modern software. For example, legacy hardware such as laptops and PCs may not be compatible with new operating systems (OS) like Windows 11. Whilst the legacy devices will continue to run Windows 10, every day that businesses rely on old operating systems past their ‘end of support’ is a massive security and operational risk.

All this leaves new owners facing significant costs bring technology investments up to scratch. Understanding this transition and planning accordingly can help smooth the handover and ensure business continuity.

Steps to Facilitate the Transition

Conduct an IT Audit: Assess the current state of your IT infrastructure. Identify outdated hardware and software that needs replacement or upgrading. If you don’t have reliable IT support, Clearsky IT offers comprehensive IT audits to help businesses understand their current technology landscape.

Plan for Upgrades: Develop a phased plan to replace or upgrade hardware and software. Prioritise critical systems that are most at risk. For example, replacing PCs running out-of-support OS with models that support Windows 11 should be a top priority. For advice on prioritising, your IT support team should be able to help.

Budget Accordingly: IT upgrades can be costly, but they are a necessary investment if you want to minimise the risk of losing data and disaster downtime. Allocate a portion of your budget to cover these expenses and depreciation as new devices will be needed again in future, don’t fall into the same trap as your predecessors!

Leverage Cloud Solutions: Cloud services offer scalability, security, and cost-efficiency. Transitioning to cloud-based or hybrid solutions can reduce the need for physical hardware and provide robust backup and disaster recovery options. Learn more about cloud services provided by Clearsky IT.

Employee Training: Ensure your team is trained on new systems and software. This will help them adapt quickly and maintain productivity during the transition.

Consult with IT Experts: Engage with IT professionals who can provide guidance and support throughout the upgrade process. Clearsky IT provides IT consulting services to help SMEs navigate these changes.

As technology continues to evolve, staying ahead of the curve is essential for maintaining competitiveness. Regularly updating your IT infrastructure and staying informed about emerging technologies will position your business for long-term success.

You might also find this helpful: Upgrading to Windows 11: what you need to know

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