Imagine for a moment you walked into a bank and saw the employees using computers you remembered from the 1980s.

Or, you went to make an appointment at your doctor’s office and the receptionist pulled out a giant scheduling book. Or, you tried to do some online shopping from a store and their website wouldn’t load on your mobile device.

Would you feel inclined to continue patronizing those businesses or feel safe giving them your personal or financial information?

Decreased consumer confidence is just one of the underlying costs of outdated technology. While some companies, especially small businesses or those with a tight IT budget, might be wary of large capital expenditures for technology updates, muddling through legacy IT systems will cost more money—and potentially more damage—in the long run.