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As technology advances, companies are operating on increasingly outdated platforms. In the era of cloud computing, companies leave themselves exposed to numerous risks by continuing to operate on these old systems. In addition, many organizations are not leveraging the power of new technology, costing them greatly.
A system migration is moving from an old platform to a more powerful, more secure, modern solution. These systems may include a full ERP, an accounting system, an inventory management system, and more.
Whether your company is operating on a legacy system or you have quickly outgrown your previous system's capabilities, understanding when to make the jump can save your company from impending challenges and allow you to capture value that only modern systems provide access to.
Continuing to operate on legacy systems can present many recurring challenges for your business. For one, legacy systems require a skillset that is becoming more rare by the day. These systems are no longer receiving the research and development investment from their providers like they once were, making them a poor choice for tackling modern challenges.
At some point your business will reach a complexity threshold that is not tenable in one or more of the systems you're currently running. If you are outgrowing your current systems, understanding the appropriate time to start migrating is an important component of a successful IT strategy.
Modern cloud solutions have many benefits, one of which is cost reduction. Your outdated systems present operating costs that create challenges for any growing business. If you are anticipating growth, your systems may not be able to support the rapid changes your business can expect. Migrating systems prior to any endeavor to scale the company can spare your operations from facing unwanted challenges at critical times.
Leveraging the security infrastructure of major cloud-based platforms is not only a cost-effective choice, it is also a more secure choice. Managing an on-premise solution does not provide the enterprise level security that the major cloud platforms offer. You will also have access to backups, failovers, and other data loss and operational securities.
Understanding the benefits of moving to a new solution can provide guidance on strategic decisions when evaluating timing, level of investment, and resources needed.
Modern solutions will continue to outpace their predecessors. Integrating an agile mindset will foster an IT strategy that propels the business, avoids roadblocks, and outperforms competitors.
Outdated and legacy systems present a number of costs that can be reduced or eliminated by migrating to a modern solution. Migrating to a new system can improve data management, making it easier to store, access, and analyze data. This can lead to better decision-making, improved accuracy, and reduced costs. Legacy systems can be costly to maintain, as they may require specialized skills and hardware that is difficult to replace. Modern systems reduce maintenance costs by providing a more reliable platform that is easier to maintain and upgrade.
Modern systems offer functionality that is not available with outdated solutions. Your company will have access to new tools for collaboration, data analysis, customer relationship management, and more. This can expand the company's capabilities and provide new opportunities for growth and innovation. New systems can also provide a faster time to market, allowing you to stay ahead of the competition and expand capabilities in new markets and industries.
Modern solutions will allow your company to consolidate and centralize multiple applications into a single, integrated solution. Properly structuring a data layer to support your application environment will enhance the productivity and work quality of your team. Moving to a new platform will allow for standardization for all users, which can help to simplify training, support, and maintenance. This can also help to ensure consistency in processes and data across the organization, reducing errors and improving efficiency.
A new system will help streamline and optimize processes, eliminating redundant or time-consuming tasks, reducing errors, and allowing people to focus on value-driving activities. Modern tools also provide access to automation for certain tasks, such as data entry or invoicing, eliminating human error in highly manual activities and improving efficiency. Modern systems bring these capabilities and more which can, in the hands of the right leadership, reveal new opportunities to create value.
Migrating systems starts with understanding the business and its needs moving forward. Any migration project should first begin with assessing the current systems environment and the corporate strategy it supports. Suppose the company is complex and the anticipated project is large; another assessment phase may be needed to dive deeper into the business and initiate a systems selection process. For example, a small migration project that includes just an accounting system may only take 4 to 12 weeks. More extensive, complex projects that may involve the restructuring of a company's data environment and the integration of new systems can take a year or more to complete, subject to the level of investment in the project.
This answer depends on the needs and stage of your business. For a small, growing company, you may need to migrate your HR and Accounting needs to a new platform, but you may not be ready for a full ERP solution. For larger companies managing many disparate platforms and applications while operating on a legacy ERP system, a more comprehensive migration should be considered to consolidate and centralize your systems environment.
When migrating from an old system, it's important to have financial talent with migration experience that understands your financial data. In conjunction with our sister advisory firm, Cogiliti, we can manage the entire process for you. Or, if you just need one or more financial experts to assist your existing team, we can provide the necessary support.
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