Definitely. But it’s much easier to defer maintenance until absolutely necessary 
(The one I have now has two anodes, so it might still be a viable option…)
Is it purely electrical or does it have an evacuated or plate heating system attached?
Looking at some plumbing work to be done. Plumber sees the Kwikot B+ rated geyser mounted vertical outside at a “need no ladder” height for plumbers convenience.
He thanks me for the consideration of plumber convenience and comment about the vertical mounting being the most effective way for a hot water cylinder.
All my geysers are going vertical as they pop.
I think that is only true if the thermostat/element arrangement is designed for vertical, otherwise there will be no or negative impact.
These days quite a few of them are designed like that. There is a hot water fitting in the middle (for vertical mounting) which also doubles as a good place to feed in the heat pump output when mounting it horizontally.
I agree with @TheTerribleTriplet about outside mounting (if supported, and if you have the space). Even in my own house it is in a store room in the roof space, where it is really conveniently accessible. I’m uncertain if the orientation matters at all, that’s probably more of a preference. I’ve seen plenty of horizontal outside mounts in Karoo towns over the years (slapped right on the roof, quite often).
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It’s a regular Kwikot 150l geyser…
Then make sure all the lagging is correct. You need R1 lagging for all the pipes to the geyser for a certain distance. I cannot remember the number, but it’s something like 5m from the geyser.
The element is at the bottom, temp sensor on the outflow, taped to the outside of the pipe.
When the temp sensor hits 50deg on the outlet, the geyser goes off.
When it drops to <35deg, element goes on.
Rest of the time the geyser element hits 75 deg or whatnot, the stock standard protection, at the bottom.
What I found was one can shower much quicker, heat only the water needed, based on the outlet temp.
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