Sticking with a software solution in the long term is common enough. We get used to a certain way of doing things, and while adopting newer technologies can benefit us, many of us just stick with what we know. This may leave us in familiar territory, but it can also create several pain points, including slowdowns and support failures. With a solution as comprehensive as ERP, these pain points can then touch every aspect of your business. The next time you wonder if it’s time to upgrade your ERP, keep these five points in mind.
It’s as simple as this—newer solutions have better features. You know this. Software solutions improve over the years because of leaps in tech, for one. They also improve based on user experience and feedback. The ERP of today far outperforms the ERP of even a few years ago. If you are putting off an upgrade to your outdated ERP, you are missing out on some seriously enhanced functionality.
Another extremely important reason for updating your ERP is that it updates with every new IRS update. Tax laws change over time, and no business wants to be behind the times with this issue. Sticking with your tried-and-true ERP may let you sit in your comfort zone. But in the long run, it may complicate your relationship with the IRS. Without tax table and year-end updates, you will be out of step with tax regulations and a prime target for an audit. Which, if you’re in an ownership, accounting or finance role, I’m sure that’s a possibility that keeps you up at night. Why would you want to put yourself at risk?
Obsolescence is a real thing with software. Consider your beloved, older ERP may eventually be too old to get support from the manufacturer. Software companies retire solutions all the time, leaving users with very limited options for support. Even if you are lucky enough to find support from someone, say your ERP partner or value-added reseller, the fix may require some less than convenient workarounds and come at a substantial cost which you could avoided if your software was up-to-date.
Older systems have another major ‘con’… they don’t work with the newer stuff. If you are sticking with a legacy ERP system, you can take any new solutions out there off your holiday wish list. Those newer solutions likely won’t work with your older system. That may well go, too, for any of the newer servers or hardware out there. Putting off an ERP upgrade can seriously limit the other technology options available to your company.
Finally, did you know studies show that upgrading ERP results in increased productivity, lower operational costs, and enhanced control of inventory? And that’s just a few of the benefits of upgrading ERP software. So it’s just good business.
Yes, your outdated ERP has been the beating heart of your business all these years. Though, it’s likely time for a change. To learn more about the latest and greatest in ERP solutions, reach out to our expert team today to see what an innovative ERP can do for your business.