The most common and most likely answer to this crossword clue is the 8 letter word KEYPUNCH
I've seen this crossword clue in The Guardian
K
E
Y
P
U
N
C
H
Buddy explains!

The straight part
We know that "Old IT device" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case old it device = keypunch.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does KEYPUNCH mean?
KEYPUNCH noun- A mechanical device whose keys are pressed, individually or in combination, to punch holes in punched cards or paper tape that correspond to particular characters.
- An electric machine with a keyboard that has the same function.
- To use such a device or machine