Just like any long-term relationship, when you’ve had your accounting or ERP software for a while it’s natural to fall into a pattern that feels comfortable. You get to a point where you no longer question the status quo. This is understandable. No one likes to think about upgrading their accounting or ERP software.
Especially if you’re working with a legacy system, these upgrades can be time-consuming and disruptive. Making time for them when you only want to focus on your business is easier said than done. So, it probably comes as no surprise that half of all ERP software users are more than two versions behind the current one. However did you know, putting off upgrades leaves you vulnerable to a wide variety of hidden ERP costs which could be silently stealing money and customers away from your business?
Sure, on the surface, hanging onto your current system may seem like the least expensive and easiest option. But countless research studies have found this is actually not the case. To show the dangers these hidden ERP costs pose to your business, we collected key statistics and put them together in this 90 second eye-opening video.
Watch to learn how hidden ERP costs may hurt your business
Can’t play the video or prefer to read? No problem, here’s a written synopsis of the video’s most important points.
Only 4% of IT leaders feel their ERP system creates a competitive advantage for the business.
An overwhelming majority (90%) of people would rather take their business elsewhere than work with a company using outdated technology.
60% of consumers think a company is outdated if they use an operating system more than four years old.
60% of consumers say they are more likely to be a repeat customer of a business that uses modern technology.
Windows XP costs over $700 a year to maintain while Windows 8 costs only $168 a year to maintain.
Windows Server 2003 costs $200,000 a year to maintain.
40% of cyber-attacks target small business.
40% of consumers will not return to a business after hearing someone hacked it.
Experts expect the cost of cybercrime to top $2 trillion this year.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.