Rolling out new software and systems is exciting. They have new capabilities, faster workflows, and other important improvements. But the challenge with technology is, it moves very fast. And if you don’t actually keep up with upgrades, those shiny new systems become out of date quickly and it’s possible to miss out on capabilities that could transform your business and lower your costs.
The moment new technology hits the market – and truth be told, well before it hits the market – developers are already thinking about the next upgrade and collecting critical data, such as:
What do users like?
What don’t they like?
What features do they want to see in future versions?
How can we make integrations smoother?
After all, it’s an iterative process, technology, with continuous improvement at its core.
Putting off upgrades means you won’t have access to the latest features and you may even lose functionality, such as integration capabilities, by not keeping current. On the other hand, embracing that continuous improvement spirit and regularly upgrading your organization’s solution ensures all your programs keep running smoothly while allowing you to take advantage of cost-saving features like automation to streamline workflows.
An upgrade that saved upwards of $60K
When considering upgrades, organizations carefully look at the costs. What they don’t always also consider is how upgrading could improve productivity and save their organization thousands of dollars by identifying new opportunities.
I’ll give you an example. We worked with a company that was able to access an entirely new feature by upgrading. Access to this new feature allowed the company to break free from a very large and expensive scanning solution.
By using existing modules within their current licensing structure, the organization moved all scanning to OnBase, using the new capabilities available to them with their upgraded solution. This transition saved them upwards of $60,000 annually on licensing fees.
So yes, upgrading gives you access to new capabilities, but it also provides an opportunity to look at your tech stack, find redundancies and ways to eliminate them and potentially save a large amount of money.
Tapping into new data sources and leveraging insights
Saying that the customer experience is important is an understatement. For 73% of consumers, it’s a deciding factor when making purchase decisions, which is probably why 89% of companies say they compete primarily on experience.
Upgrading is a powerful way that you can further improve that experience.
How does an upgrade impact service levels, you ask?
Well, when you upgrade, you enhance your ability to view important data, but also to use it to better understand your customers, make more informed decisions faster and deliver better experiences, regardless of any headwinds you face during economic uncertainty – I’m looking at you 2023.
Capturing a competitive edge
Prices are increasing, the cost of labor is increasing, and, in many cases, competition is increasing. The market is a moving target, and keeping up isn’t always easy.
Your technology is a critical piece of keeping up and staying ahead – but it can also be a competitive advantage.
User feedback drives many software enhancements that appear in upgrades. Efficiency and improved productivity regularly appear on a developer’s “to-do” list when upgrade planning. As a result, many of the capabilities made available through upgrades make your business more efficient. Access to these productivity-enhancing features, like automation, help you reduce costs, giving you an edge in the market when the price of practically everything is going up.
What to do next
We’ve all heard stories of upgrades that didn’t go as planned, and the key to a successful upgrade is investing in the prework. Assemble a strong internal team that is engaged in and committed to the upgrade process. Then, identify a partner who understands your business, is an expert at successful upgrades, and can help you navigate the process easier.
When you build a strong foundation, you can spot problems before they happen, troubleshoot any potential issues, and get your upgrade done more easily, so you can begin to capture all the cost savings potential and the agility required for the future.
