After the ups and downs of the last year and a half, the business world is making its way into 2022 with renewed optimism. Business executives are contemplating strategies to start the year with a strong quarter by adapting to the new normal. Do you have the best technology infrastructure to help you kick off the new year with a bang? If not, it’s time to consider a technology refresh.
Every company wants to grow, but if you treat your technological infrastructure as an afterthought, you may be severely limiting your company’s potential.
Remember that your IT infrastructure is a critical component of your business. An up-to-date and high-quality IT infrastructure is an asset that enables you to do business without falling prey to cyber threats and helps you achieve your goals.
A technology refresh enables a company to analyze the current state of its IT infrastructure and weigh the merits of trying something better. For a company’s long-term success, it’s best to review the present IT infrastructure — hardware, software, and other technology solutions — and determine what additional solutions are available that would better suit its needs.
Reasons Worth Considering Before Refreshing Your IT Infrastructure
The threat landscape is constantly evolving. We know this because of the projected increase in the cybersecurity market size from around $217 billion in 2021 to about $240 billion in 2022 If you want to keep cybercriminals out of your business, you must understand where your technology and security measures fall short, leaving you vulnerable.
Some of the threats that small and midsized business (SMBs) IT infrastructure must defend against are:
- Targeted ransomware attacks
- Phishing attacks
- Insider threats
- DDoS attacks
Assurance That You’re Meeting Compliance Requirements
Regardless of your industry, you’re probably subject to compliance regulations that your company must follow. If you use outdated technology that no longer receives software patches and is no longer supported, you may jeopardize your compliance status. Finding these gaps in your infrastructure as early as possible allows you to close them, thereby avoiding reputational damage and getting into hot water with regulators.
Never take compliance lightly since failure to comply can result in:
- Hefty penalties
- Uninvited audits
- Criminal charges
- Denial of insurance claims
- Forced closure or even imprisonment
If you don’t have a backup solution, you should find one that will work for your business because you could lose all your critical data in the blink of an eye. If you currently have a backup solution, you should check on it regularly to ensure that it is still functional. If it isn’t working and your organization wants to access your backups, you’ll be in a tough spot.
In addition, some cyberattacks specifically target backups. As a result, it is critical to regularly review and refresh your backup solution.
Stay Competitive Using Artificial Intelligence (AI) and Other Emerging Technologies
According to Gartner, 33% of technology and service provider organizations intend to invest $1 million or more in AI over the next two years. AI and other emerging technologies are rapidly altering the landscape of every industry. If you want to stay ahead of your competitors, you must use the most up-to-date technology appropriate for your industry and goals. This could explain why around 60% of SMBs have invested in emerging technologies.