Due to many factors out of our control, prices are rising at a rate not seen for a generation. Spiralling costs of energy and fuel can affect both businesses and employees. Many businesses have seen the benefits and cost-savings that can be had by offering a work from home option.
Energy bills have increased dramatically and are affecting the general cost of living. As rates and raw materials remain high, wage increases may not be an option as margins are squeezed. But you can help your staff and keep your own energy bills low by investing in more efficient tech which uses less power, to minimise energy bills.
Modern technology is integral to delivering a satisfying employee experience, ensuring customer data remains secure, and making sure your IT estate is an asset, not a burden. Let’s look at some key costs.
UK energy prices have ballooned in the last year, and are set to rise another 20% in April 23, that’s around £418 more in Q1 for a typical household. Older tech is significantly less energy efficient than the most recent models. For example, devices with Apple’s M2 chip match the peak performance of PC chips. Not only that but Apple M2 chips are 1.4x faster than the M1 and offer improved power-efficiency. That’s a huge reduction in your energy overheads, without compromising on performance.
The rise in inflation has had a knock-on effect on property and rental costs. Global conflicts and the cost of oil and gas have meant that businesses have had to consider different ways of working, to remain profitable. Hybrid working reduces cost of renting commercial premises as hot desking allows you to effectively have twice the number of staff without paying more for extra space. This will also affect heating and lighting costs.
The direct benefits to your staff are the savings they will make on commuting to work in fuel and transport costs. While repairing machines would seem the more economical option, a new machine will be far more efficient in power usage and as a tool to aid productivity.
Investing in additional screens and wireless mouse and keyboard can make the transition from work to home and vice versa seamless and can improve productivity.
Older machines are more vulnerable to cyber attacks than newer ones. This isn’t surprising: their flaws are well known; they run older software and operating systems with more vulnerabilities; they’re not compatible with upgrades that fix those vulnerabilities.
Many companies seem to think this is a risk worth taking, but with malicious attacks jumping by 450% in 2020 (including huge rises in retail and healthcare), it’s more important than ever that you secure your IT estate.
The financial impact of these attacks can range from funds being stolen outright to extortion via ransomware to a drastic drop in business once your customer base realises you can’t keep their data safe. In fact, one estimate places the average cost of recovery as high as £7.20 million. Does your business really have that kind of money to spare? And do you really want to bankroll an IT upgrade after an attack, when you can’t be sure customers will return?
Online spending surged during the pandemic, and many consumers seem content to continue their shopping online. However, research by Microsoft shows that consumers have been worrying about the security of eCommerce systems for years, and more than 90% said they would take their business elsewhere if they discovered a company was using outdated technology.
The Great Reshuffle, following the pandemic has meant that staff are now more choosy about where they work and the conditions they work in. This has directly affected staff attrition levels in the UK and globally. The pandemic gave work forces an opportunity to re evaluate their life and career choices and many came out feeling they needed to ensure a greater emphasis on work life balance. Applicants and employees started to demand more flexibility in their roles. Consequently, a mass exodus has taken place in office-based jobs. Labelled ‘The Great Resignation’, this has heralded a sea change for businesses and the way they manage their office space and staff schedules.
With more options to choose from (and more advertising to be influenced by) than at any other time in history, delivering an intuitive, responsive experience that’s optimised to work with modern devices is key to reducing customer attrition. And remember: every 5% reduction in customer attrition delivers a 25 - 95% increase in profits – more than enough to cover the cost of an upgraded device for a hybrid staff member.
According to research by Adobe Workfront, 49% of workers are likely to leave their job if they are frustrated by the technology on offer; G2’s State of Software Happiness report tells us that 1 in 8 workers has already made the move. It also revealed that 62% feel they’re not reaching their potential because they’re being held back by obsolete technology.
Lower productivity, higher turnover, and the constant costs of hiring and training new staff rather than being able to depend on established talent are all going to wear on your business’s bottom line – so what can you do?
As a trusted IT partner with over 30 years’ experience and over 25,000 clients, we can help you adapt your technology stack to overcome any challenge. If you’re struggling to upgrade in a market with squeezed profit margins, there are several ways we can help.
Financing First, decide what kind of financing model suits your business. Do you want a long-term leasing agreement that gets cheaper as your headcount rises? Are you looking for a flexible arrangement that will let you add and remove devices as demand fluctuates? Is your main concern being able to offset the cost of an upgrade by unlocking the residual value of your devices? We can help in all these scenarios, delivering flexible device services that will help you free up capital and reduce IT costs to a single, predictable cost per user.
Another important consideration is how often you want to refresh your technology and how old devices should be handled. Do you need to adapt your existing refresh plans, or are you starting from scratch? How will you ensure old devices are wiped before being sold on? What guarantee will you get that devices are being recycled or disposed of responsibly?
Our experts will work with you to develop a solution that takes care of your new and existing devices, honours your environmental commitments, and helps you unlock the residual value of your devices every time you refresh your estate.
We offer three levels of ongoing support: a managed Device as a Service (DaaS) offering, which includes device deployment, management, support and maintenance; a technical support and repairs service, and a maintenance-only service. Which is right for you will depend on the level of technical resource you have in-house, and how closely you want to monitor the technology your end users are using. Our team can work with you to design and build a technology stack and support programme that will deliver security, control and flexibility for your staff.
Find out more about DaaS and our Device Refresh and how to avoid the hidden costs of obsolete tech. Get in touch with the team by calling 03332 400 888 or emailing solutions@Jigsaw24.com. For the latest news, follow us on LinkedIn and Twitter. Alternatively, drop your details into the form below and one of the team will be in touch.
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Here we present our updated guide to all things Wacom, including the Cintiq and Cintiq Pro ranges, as well as Intuos Pro.
Spiralling costs affect businesses and employees. See the benefits and cost-savings of offering better tech to hybrid staff.