The "Myths of Changing Accounting Software" is a four part blog series that looks at common myths when changing accounting and/or ERP systems. Each post will feature a discussion on a specific myth.
Deciding to migrate from an old or legacy accounting system can be difficult and sometimes nerve-wracking. However, the benefit of change can really free up staff and help the bottom line.
Myth 1: If It's Not Broken, Why Fix It?
If something isn't broken or has been "working for years", many companies will put off looking at an accounting system change. However, continuing to use a dated software comes with certain risks and frustrations, some which are not always considered. Waiting to replace older software can cost your company time and money.
Cons of Subscribing to Myth #1:
"It still works today and like it did 10 years ago, why change?" - Business Owner, subscribing to Myth #1
When a company continues to use a dated and/or antiquated software to manage the business financials and operations, there are several notable disadvantages.
- Lost Productivity: User frustration can lead to a productivity loss and noticeable increase in costs.
- Security Risks: Old or legacy code, lack of updates, or a poor password management policy can make your company's data more vulnerable.
- System Failures: Increased downtime for staff can cause missed deadlines and lost profits.
- Missing Features: Features that we often take for granted are typically missing. For example integrated document emailing, electronic payments, and cloud-based access.
Pros of Rejecting Myth #1:
"We thought our old system worked great until we moved forward with our new solution and realized that it was long overdue" - Controller, rejecting Myth #1
- Improved Workflow: New streamlined processes can increase productivity and help users work more efficiently.
- Increased Security: Having regular updates, support you can contact, modern password management, and the ability to use modern macOS and Windows operating systems (bye Windows 7), your business data security is increased.
- Flexibility: New software can allow for sizing operations to meet customer demands quickly.
- New Features: Direct emailing documents, creating EDI files, electronic document storage, bar code scanning, and cloud-based access can drastically improve the way your company works.
Using old software past its point of support and limits, comes with high costs and risks. Waiting to replace critical systems until they are almost broken or cannot be used anymore, can lead to unwanted downtime, loss productivity, security breaches, and overall frustration within your organization.
Is your company or your clients considering changing a dated or legacy accounting and/or ERP system?
Accountek can help...
Accountek has team of experts with 30 years experience in system onboarding, data migrations, and a wide variety of specific industry applications. Our flagship platform, Connected Accounting and ERP, may be just the right fit your team.
Complete a business software Needs Analysis today.
Our just call us! 1-888-678-5856
Check back soon for Part 2 of 4 in our "Myths of Changing Accounting Software" blog series. Upcoming Myth #2: "Migrations take months. We can't afford the downtime."
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