There is a constant stream of new features developed by Microsoft based on their research and customer feedback. You may think you are getting all you can out of your solution. But to leverage your investment and take advantage of updated features, functions, security, and support, you’ll want to consider upgrading to the latest version.
Microsoft’s Modern Lifecycle Policy provides ongoing support for certain Microsoft platform features such as bug fixes, advanced features, up-to-the-minute tax compliance, regulatory updates and more.
The latest version of Microsoft Dynamics GP (Version 18.4), also known as GP 2022, was released at the end of 2021, and Microsoft will continue to support and enhance it for many years to come.
To get the most out of your Dynamics GP solution, here are five reasons you should consider updating to the latest version:
1. Bug fixes and compliance updates
Microsoft continues to roll out the latest service packs of hotfixes and compliance updates. Microsoft generally releases these updated service packs twice a year to address any reported issues. They carefully examine the top customer-submitted requests regarding concerns about new features. Hotfixes are provided monthly and are quick solutions to more minor problems.
Also, updates will ensure your system complies with the latest tax laws and accounting best practices. Updated compliance features are critical if your company relies on Dynamics GP for payroll processing or completing official forms such as W2s or 1099s.
2. New features and functionality
Microsoft regularly presents new features as technology advances and business practices evolve. The latest GP version increases security by supporting multi-factor authentication and allowing users to mask social security numbers in human resource databases. You’ll also find essential functionality updates such as copying and pasting in Payables transactions.
3. Improved integration for ISV products
Routine GP upgrades maximize your system for coherent integration with the latest Independent Software Vendors (ISVs) or third-party products. Often newer third-party solutions require the latest version of your ERP software.
As time passes, Microsoft moves on from supporting older software versions. Depending on your version of Dynamics GP, your support may have run out already or may be scheduled to do so.
Without support, there is an increased risk of security issues, potential bugs, malware attacks, and compatibility problems. Up-to-date support also provides critical regulatory changes related to payroll and taxes.
5. Eliminate workarounds and reduce costs
Frequent upgrades may seem like a hassle. But keeping up with them will ensure that your Microsoft Dynamics GP continues to run efficiently and return the most value for your investment. The latest tools and functions will relieve your team from having to create workarounds, potentially compromising your organization’s data and security.
Regular updates are less time-consuming and interruptive than emergency support calls if something goes wrong or you run short of capabilities. And by staying current, you’ll be reducing upgrade costs; it gets more expensive to upgrade to the latest version the longer you wait.
Would you like to know more? If you have questions about extending your Microsoft Dynamics GP solution with the benefits of an upgrade,