Many companies work to ensure their business system is up-to-date with the most current software release to take advantage of new functionality in the software, protect themselves from application issues, and leverage the most currently supported platform technology. But, let’s face it, it’s easy to fall behind – Your company becomes too busy, there are projects with a higher priority, or there are not enough resources and budget available for upgrades.
Is your company using outdated software in its daily operations? If so, you’re probably losing more money than you realize. Legacy systems are a major hidden cost—something you aren’t writing checks to cover but is nonetheless costing your company money. Hidden costs are typically identified as activities that cause waste or a delay in the business process. When it comes to running a smooth business, it is critical to ensure that your technology is up to date. Otherwise, you won’t be able to accomplish specific goals or acquire skills that will prove to be valuable assets in the future.

As older products and technologies near their End of Life (EOL), developers are eventually forced to discontinue support in favor of new and/or upgraded software. You may be thinking that since you already know how these platforms work, you are in the clear. However, if you or your business are currently relying on a platform that has lost its developer’s support, you are not only vulnerable to ransomware, but it could also end up costing your business valuable time and money.