If you read our recent blog ‘Why Outdated Software is Risky for Business‘, you’ll already be aware of some of the risks that old software can pose. When it comes to ERP software, most businesses stick with it longer than recommended because it feels familiar. Additionally, many companies think that sticking with their current ERP system is less risky than moving onto something new. Actually, this isn’t the case; let’s find out why.
Doing Nothing is Riskier Than Doing Something
Most managers may feel like they are doing the best thing by staying with their current ERP provider, even if it’s out of date. These managers have a mentality of ‘it worked 5 years ago – why wouldn’t it continue to work?’. The simple answer is that software develops and it’s something that should be updated every few years or so. Without doing this, you run the risk of data breaches, broken software, maintenance costs, and a less efficient way of working. Gradually small software blips can become monstrous problems if the issue isn’t tackled head-on.
4 Risks of Old ERP Systems
- Lack of Compliance: Outdated ERP systems risk being out of compliance with new tax laws, GDPR, and data security. What’s more, older software is more vulnerable to security breaches such as cyber-attacks. Security breaches like these can happen because the software doesn’t have the most up-to-date security features installed.
- ERP Vendor No Longer Supports Old Versions: ERP companies are continually developing and improving their software, striving to help increase safety and usability. Over time, ERP vendors will stop supporting old versions of their software simply because they aren’t fit for purpose anymore. What’s more, there is a high risk that, if your software were to crash, the vendor wouldn’t have a solution to get it back up and running again.
- More Difficult to Maintain: Maintaining outdated ERP software is difficult, especially if your ERP vendor doesn’t support the version you use anymore. As a result, maintaining older ERP software is often much more expensive than newer software.
- The Software is Slow: Anyone who has used slow-running software – whether it’s ERP or simply your internet – will know how infuriating it can be. Sadly, the older you ERP software, the slower it will operate, making you less efficient on the whole.
Old ERP System? Take Action Now!
As we’ve discussed, not taking action is often riskier than upgrading your ERP software. With new ERP software, you can accelerate your business performance. NetSuite ERP is engineered to scale with your business as it grows, streamlining the most mission-critical processes. From advanced financials to supply chain management to billing and more, NetSuite ERP give you the tools you need to accelerate growth, drive, and innovation.
We know that choosing a new ERP system is a big step which is why our experts are on hand to give you a completely free consultation. Get in touch today.