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Reduce your risk: 5 reasons your software needs to stay updated

From reducing risk to identifying new initiatives that will save you time and money, your business is constantly moving forwards – but are you taking the right steps to ensure your ERP solution keeps pace? Look after your system, and it will look after your business. Here are our 5 reasons why you simply can’t afford to run an outdated software solution.

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1. Is it wise to slow the pace of digitalising your business?

Digital solutions are becoming more ingrained into our everyday lives and are positively impacting business - delivering greater efficiency, improved accuracy, all while enhancing your customer service! Sounds good, right? You’re missing out on the benefits of digitalisation if you’re not keeping your software up to date. From digital proof of delivery to digital receipt management and to remote order entry for your sales team, can you really afford to miss out on these benefits?

2. Restricting your online options may ultimately restrict your business!

We all know that the Covid-19 pandemic accelerated the rise of digital trading, and there’s been a noticeable rise in ecommerce’s share of global retail trade. Without an up-to-date business management software system, you may be missing out on ecommerce solutions that integrate into your business, and let you run it your way. Are you taking advantage of products that enable your business to get online quickly and to service your customer needs, whether that be trade, consumer or both?

3. Outdated IT infrastructure creates unnecessary security and operational risk

If you are running your business solution on-premise, it is likely that your hardware and the operating systems used to run it are becoming outdated and could be at risk of failure especially if you have not upgraded in the last few years. This could leave your business vulnerable to complete loss of systems and data, hackers and poor performance. If you are not already using cloud software, then perhaps now is the time to consider this option and mitigate these risks to your business.

4. Innovative features to improve your business go unused – can you afford this?

Your ERP provider will, and should, be significantly investing in developing new features to keep pace with the changes that we are all experiencing economically. From your ERP to your web solutions, to finance and accounting – your systems should be constantly developed with innovations to ensure your business stays ahead of the competition, and has the tools to deliver excellent customer service. Without keeping your business software up to date, your employees can't make the most of new features and improved functionality. These are benefits that many of your competitors will already offer, and as a result, your business could be falling behind.

5. Using outdated systems really creates a false economy and ultimately adds cost and risk– can you afford it?

Holding off on upgrades can be a false economy, having to do two or more upgrades all at once pushes a larger cost into one period, as your teams have more to incorporate simultaneously. Regular upgrades spread the cost of the service over time, ensuring that you can not only keep up to date but do so with minimal disruption to your business.

Find out more about our market-leading ERP solution, K8, today, or get in touch with us to ensure you are on the right version of our software today.


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