If you do decide to take on new software, or enhance your existing system, you should be looking for a return on investment within 2 years or less – this should be demonstrable and quantifiable
Manchester (PRWEB UK) 24 April 2013
Refusing to upgrade systems and software could be the 'worst decision business owners ever make' a new article on Find the Edge has said.
Lisa Miles, owner of Amethyst Associates Ltd, uses an article on Find the Edge to explain why failing to move with the times can hit profits hard.
Titled, 'Why Failing to Upgrade Business Software Could Be the Worst Decision You Ever Make,' Miles highlights the dangers associated with using multiple systems that can't integrate or communicate.
She said: "As an example, software that lets you send out invoices or statements via email has been around for years. Despite this, many companies insist on doing it the ‘old fashioned’ way.
"You only have to miss one entry – so perhaps a customer’s address isn’t updated in a single crucial location – and you have a problem."
She also identifies other issues, such as a company relying on one individual's knowledge of how to operate a system. This is dangerous if that individual then leaves the organisation.
To combat problems like these, Miles suggests considering making changes to the core systems in the business.
She said: "You need to consider the long-term return on investment, rather than just the initial costs.
"If you do decide to take on new software, or enhance your existing system, you should be looking for a return on investment within 2 years or less – this should be demonstrable and quantifiable."
The full article can be viewed here: http://www.findtheedge.co.uk/technology/apps-software/why-failing-to-upgrade-business-software-could-be-the-worst-decision-you-ever-make.
Lisa Miles is a business consultant, and also acts as an expert witness. More about her can be read here: http://www.findtheedge.co.uk/expert-panelist/lisa-miles.
Kenny Goodman, founder of Find the Edge, said: "Taking the decision to make costly changes is rarely easy, but acting early can lead to huge savings and boosted efficiency.
"Lisa has a great deal of experience in this area, so it's well worth listening to what she has to say."
Find the Edge is a business website that gives leaders access to a free collection of articles, videos and interviews.