Many businesses hold off on much-needed software upgrades because they think it will be damaging for their business. But delaying essential upgrades of outdated software is actually riskier for your business. Here’s why you should consider upgrading your software now rather than waiting.
- Decreased Reliability
Being able to provide your customers with a reliable service is crucial to your business’ performance. The software you use to carry out sales, record customer data, and submit orders to the warehouse can be the maker or breaker of your business. If this software becomes outdated, mistakes and failures can damage your reputation.These mistakes and failures can lead your customers to more tech-savvy competitors who are using the latest cloud-based technology. As a result, this can lead to extra costs in lost sales, lack of employee productivity, and time trying to repair old or broken software.
- Increased Costs
While upgrading your software may come with initial outgoings, it will save you in the long-haul. Outdated sales and supply chain software can rack up expensive maintenance costs. Upgrading your supply chain and sales software can help to reduce costs in time and can help establish a more efficient way of working.Upgrading your business software can help automate what were once manual processes. This saves time in labour and reduces the risk of human error. Newer software can present you with more efficient methods and solutions to problems.
- No Flexibility
Often, old technology doesn’t integrate well with new technology which makes opportunities for growth very limited. Being unable to integrate new software with your old system could mean that you miss out on functionality that could improve the operational efficiency of your business.If you’ve used the same old software since the business began, there’s also a risk that the software is now no longer fit for purpose. You may have changed your processes over the years and, if your old software doesn’t offer you the flexibility to adapt accordingly, it can pose a risk to your business.
- Security Risks
Not having up-to-date software can leave your business exposed to security threats and hackers. Protecting your data, especially your customer’s billing information, is crucial in this day and age. Many hackers will try to exploit any cracks in your software and, if it’s old software, it will be much easier for them to access. There are many reasons that software updates are put in place, such as making it work faster or incorporating more user-friendly features, but their primary purpose is to keep your data safe and secure.
- Lack of Reporting, Forecasting, and Automation Capabilities
Most cloud-based software solutions offer real-time reporting and forecasting capabilities. While older systems may still provide reporting capabilities, they can become inaccurate over time. This is especially true if your system is unable to integrate with any other software to produce accurate reports.Many out-of-date business systems don’t have workflow automation capabilities. Upgrading your business software will help you automate many internal work processes such as marketing outreach, reminders, and customer follow-ups.
Why You Should Upgrade Your Business Software Now Rather Than Wait
Upgrading your business software offers faster solutions and a more efficient way of working. Cloud software is often cheaper to maintain than older software that keeps breaking. What’s more, older software can become unreliable over time which can negatively impact your production flow and your customer orders. Keeping your data safe and secure is another reason to think about upgrading your old software. It’s difficult to keep old software safe from hackers, but, newer software will have the latest security features.
Many businesses often old off from upgrading their business software as they think it will be risky for their business to take the leap and upgrade. However, not updating your software can result in negative impacts across your business’ security, efficiency, and business growth. Upgrading your business software can seem intimidating at first, but many solutions can be swiftly implemented and explicitly tailored to your business needs.
At Cofficient, we understand that upgrading your business software can be daunting – whether you need a faster CRM solution, or your ERP system is error prone and labour intensive – we’re here to help. Discover more about our Cloud Software Solutions for businesses.