Outdated Software: Can you afford to risk it?

Outdated software, commonly referred to as legacy software, is frequently underestimated within a business setting.

The task of replacing such software is often relegated to the lower tiers of the priority list, with some waiting until a critical issue arises before taking action. However, this approach carries risks that can prove detrimental to your business if you don’t transition to a more up-to-date system. Using outdated software not only hampers production but also poses a threat to your entire operational integrity.

As an illustration, contemporary finance teams frequently adhere to their outdated ERP software for rebate management due to concerns about the expenses associated with transitioning to a new system or simply being resistant to change. Nonetheless, what these businesses may overlook is that maintaining their legacy software is incurring higher costs. To effectively handle the intricacies of rebates, finance teams now necessitate automation to process rebate agreements more efficiently and provide comprehensive real-time business insights throughout the organisation.

Main reasons why you haven’t upgraded your outdated software

At CSG, we understand that you may not have time to worry about your outdated software and the responsibility to ensure that things are in working order can sometimes be too much for organisations, partnering with CSG means that we can take this worry and responsibility away from you. We often hear that the main reasons for not upgrading outdated software are:

1. The lack of knowledge on what is the right software to use and how to update it. It can take a lot of time to research and evaluate solutions that are offered to you, but how are you supposed to know what solution is best for your unique business needs? That’s why CSG is the preferred IT partner for hundreds of businesses as we only suggest solutions that are tailored to you.
2. The cost is always going to be something organisations try to cut down. Updating and making the move to new technology from outdated software can often seem like it’s too expensive, but finding the most cost-effective approach is something that CSG thrive at. Our dedicated team have been praised for going the extra mile to save costs for our clients by fixing their outdated software and our Account Managers never suggest solutions without putting the most cost-effective approach forward.
3. Haven’t needed to update it: this is something we hear a lot. If you feel that your system is working fine, then often or not it doesn’t get looked at. However, this won’t be the case if your business suffers a cyber attack that costs you millions. This is something CSG values and that our tailored services provide, to be proactive rather than reactive. 
4. Fear of breaking the system: for those who aren’t tech-savvy, updating something can be terrifying as you don’t want to crash it! However, it is more damaging to not update your old system so make sure you get the help you need when it comes to updating your outdated software. 

Many of you might be thinking that the above are valid reasons to keep using your outdated software, however, there are many risks involved with this approach. The 6 main risks include:

Risk 1: Legal and regulatory risks