Technology has moved much of the workforce to want and expect more in their finance job. There is a growing need to shift towards the likes of your staff that embrace technology. Many people are accustomed to devices that help them organize their day, a phone that substitutes as a computer and a watch that alerts them of incoming messages and tells them when to get moving. To these tech-savvy employees, the prospect of learning to use an on-premises, legacy ERP software solution will slowly become a negative when it comes to both retaining and attracting new talent. Most of the financial workforce, whether Millennial’s, GenX or beyond, are demanding easy-to-navigate, easy-to-customize (with no IT intervention) and a modern user interface to complete their daily financial tasks. They want quick, responsive software solutions that are intuitive and accessed from anywhere and on any device.
An outdated technology stack can be a negative mark on your organization when you are trying to hire today’s finance professionals. Technology is such an integral part of life, and most want the opportunity to work with leading-edge technology. A legacy system may not lose you a great hire, but it will not help you win a candidate who has the chance to use a modern system at another organization.
If You Have Legacy Software, What Should You Do?
With this knowledge in mind, if your business is using an on-premises, legacy accounting software solution, should you invest in upgrading your existing legacy system or migrate to a new, more modern user-interface, cloud-based solution like Sage Intacct? While these older ERP solutions are very powerful and customizable, and still fit some industries quite well, their days are dwindling. There will not a be catastrophic tipping point signifying the reign of legacy software is done, but there will be a slow and steady decline of end users interested in learning how to use these solutions. Modern financial professionals are interested in learning the cutting-edge software that will grow with them as they continue on in their career.
When evaluating whether to ‘Upgrade’ or ‘Migrate’ your legacy accounting software system, keep this in mind. If you keep delaying the upgrade vs. migrate scenario you will be faced with a diminishing pool of qualified employees with the desire to work with legacy solutions. If you are considering the switch to a modern ERP solution, a best-in-breed cloud-based solution like Sage Intacct, you will have a larger chance to keep your employees (and future employees) happy with a more modern ERP solution in place.
To learn more about migrating your existing legacy accounting software to a cloud-based solution like Sage Intacct, contact The Resource Group or your VAR. We can help you make the right decision for your business needs now and in the future.
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