The Danger and Hidden Costs of Outdated Technologies

Corporations historically have made decisions based on stability and functionality when considering new technologies, investing in solutions that increase productivity. Yet still, a survey of nearly 3,000 U.S. working adults found that U.S. businesses lose up to $1.8 billion each year in wasted productivity due to obsolete technology.

According to the survey, workers spend an average of 520 hours a year — more than one full day’s work each week — on repetitive services and tasks that could easily be automated.

The costs and waste resulting from outdated technology are staggering, and in most cases, the problem doesn’t lie with employees. Even highly functional and motivated teams who are results-driven and passionate about getting work done need proper tools to be more efficient and effective. So what should employers who want to avoid wasted productivity do?

Working Smarter, Not Harder

Modern business calls for systemization and efficiency. Systemization is the process of designing standard operating procedures and techniques to ensure the consistency and efficiency of an organization. Without them, a company is unlikely to scale in a predictable or repeatable way.

Savvy business leaders keenly understand how an imbalance in the ratio of “process” to “human” factors in a requirement or solution could put a company at a competitive disadvantage, while automating such processes can help it thrive.

One area where smart business leaders have turned their attention to is Human Resources. A study of HR leaders found that 1 in 10 HR managers spends at least 30 hours per week doing tasks manually that could be easily automated (e.g. running payroll, onboarding employees, etc.).

If you run a company with multiple employees, make sure to check out Fingercheck’s modern HR solution. The Fingercheck platform helps businesses run more efficiently by automating and speeding up daily tasks, reducing redundancies, preventing human error, and freeing up precious time so that teams can focus on high-level projects and being more productive.

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