IT Management Slideshow: 10 Reasons to Upgrade Financial Software Now

By Bob Violino  |  Posted 10-20-2009

10 Reasons to Upgrade Financial Software Now

By solving a high corporate priority, the project can help spark more commitment to (and spending on) IT.

10 Reasons to Upgrade Financial Software Now

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Financial apps can eliminate or reduce manual processes.

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Newer systems can enable greater compliance with Sarbanes-Oxley and other financial regulations.

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Web reporting, or pushing information out to customers instead of just responding to inquiries, can be appealing to clients.

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Newer financial applications can reduce labor costs --but be sure to monitor the payback.

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Upgrades that include portals and other knowledge-capture components can mitigate or minimize the loss of knowledge when workers leave, voluntarily or involuntarily.

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Better reports convert data-entry staff into knowledge managers. Rewarding employees with faster, more reliable tools can go far in reducing frustration.

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40% off list prices is not out of the question these days. Once the recession is over you can expect these prices to rise back to their previous levels, and then some.

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An upgrade prepares your back office by building capacity for the eventual economic upturn.

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Reduce business risk by retiring high-cost, antiquated technologies.

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