Office equipment has a limited lifespan. How limited? The average computer maxes out after just over four years. For other machines, it’s even shorter.
Some businesses incorrectly assume it’s smarter to save up and wait until there’s a problem to replace important equipment. In reality, dated devices cost more than just capital and can actually make your organization vulnerable to serious security threats.
Investing in quality equipment now is the best course of action for companies who want to future proof. Here’s what that ROI looks like in reality.
Buying better saves you money
Anyone who’s ever replaced a laptop’s motherboard knows: Aging equipment requires significant, costly upkeep. Over time, outdated products can end up costing far more than their market value in maintenance fees alone.
By contrast, newer, top-rated office equipment acts as more of a one-time purchase, giving you peace of mind in your investment.
That assurance extends to security, too.
Newer machines and equipment provide a critical layer of protection between your company’s sensitive data and disastrous cyber events. If your company can’t afford to pay $4.7 million CAD – the average cost of a data breach in 2020 – then it’s time to make the switch.
Quality equipment increases efficiency
While the price tag of a mid-level machine may seem appealing at first, it’s important to look beyond the numbers. The efficiency and reliability of your office equipment is a far better indicator of its lifetime value.
Upmarket products typically experience far less downtime and have the processing power to handle your most data-intensive tasks. When your company equipment is running optimally, employee productivity is likely to rise, increasing your profit margins as a result.
Though actual costs depend on how much you charge per hour and the number of employees you have, in one Small Business UK example, a one-minute computer delay can cost upwards of $3,300 CAD worth of business hours over the year. These are funds that could easily be spent on newer, more effective machinery.
Higher safety ratings lead to lower health risks
You can’t put a dollar amount on the health of your employees. If you want to improve their well-being, start by assessing the equipment they use each day.
Ergonomically speaking, that might call for increased investment in inexpensive equipment like adjustable screens, proper seating, elevated keyboards or even standing desks.
When shopping for updated equipment, consider making purchases that align with health and safety standards like those outlined in this computer workstation checklist.
You can enhance employee morale
Office equipment directly impacts the employee experience. The more a machine crashes or a piece of legacy equipment delays their deadline, the more frustration that builds. Is it any wonder that “93% of millennials cite modern and up-to-date technology as one of the most important aspects of a workplace”?
Instead of testing an employee’s patience, try providing reliable office equipment. Not only will it help them take pride in their work, but it’s also a tangible way to show you’re invested in their overall experience.
This cycle of positive reinforcement is one that leads to a solid company culture built on mutual respect.
It gives you a competitive edge
Better equipment often signals a better product, at least in the minds of your customers. Meaning, updated technology can actually give your business a more competitive edge.
However, the inverse is also true. Cheap equipment can subtly communicate subpar services.
Play it smart and take advantage of any opportunity that sets your brand apart and sends a message of quality. Top-of-the-line tech does just that.
There are no two ways about it. Premium businesses invest in premium equipment – and for good reason. Not only is it better for their bottom line, but it’s also a direct investment in their most important asset of all: their employees.