What version of Timeslips? Frankly, no one should be running Windows XP any more but let's but that aside.
The first thing I usually check with slowness is exclusion from anti-virus both on the server and the workstation for all Timeslips folders.

When you look at how much memory an application requires you cannot look in a vacuum. The memory is cumulative. If Windows requires 1 GB and Abacus requires 1 GB and Timeslips requires 1 GB and you have all three running, plus maybe outlook and word, 2 GB is probably not sufficient.

If we want to assume that memory is not the issue and anti-virus exclusions are in place then we need more information.
Are you on a network or is Timeslips only installed on one workstation?
If a network what is the speed of the network cards at both ends?
What is the speed of the switch?
What else is running on the server and how much memory does the server have?
Is it slow on all workstations?
If you bring the database local is it faster?
Are Timeslips and Abacus connected?
Are certain functions slow?
Is the slowness new or existing for a long time?
Have you tried running database verification, look for errors to see if there are database problems.

More information is really needed to give guidance.

Thanks Caren for the prompt reply! I knew those questions would come up and I am certainly going to forward that information to the tech this morning. I am by no means a computer genius, I just stick to the billing. I will post a reply as soon as I find out. Thank you so very much!