Just like neglecting your health can lead to a bad bill of health, overlooking outdated software can spell disaster for your business. Many companies cling to obsolete technology, thinking that if it still works, there’s no need to fix it.
However, this mindset can be dangerous, as businesses need to adapt and evolve to survive in a changing environment. To ensure continued success, it’s crucial to assess whether your current software is still the right fit for serving customers, outperforming competitors, and maximizing return on investment.
While business leaders face numerous challenges like the COVID-19 pandemic, inflation, job vacancies, and supply chain issues, reviewing their existing tech stack might seem like an overwhelming task. Evaluating technology can be confusing, expensive, and outside the realm of expertise for many corporate leaders. Consequently, they often delay updating their software, even when aware of its importance.
The dangers of doing nothing can be catastrophic. Take the case of Equifax, where a failure to patch a known security vulnerability led to a massive data breach. Similarly, Target suffered a significant breach resulting in financial losses. Outdated software also plagues the airline industry, causing flight cancellations, delays, and revenue losses for major carriers.
How can you protect your business?
Conducting a tech stack audit every three to five years is a crucial first step. Just as a trucking company inspects its fleet or a TV network cancels poorly performing shows, businesses must reassess their technology periodically to keep up with changing times. An audit acts as a medical checkup, identifying areas for improvement, outdated components, and necessary changes.
To ensure an impartial evaluation, it’s advisable to engage an external company for the audit. This allows for a fresh perspective and expertise in identifying the most promising improvements. After receiving the audit results, corporate executives can make informed decisions regarding software upgrades, replacements, or maintenance.
While off-the-shelf software can be a suitable option for many organizations, customized solutions offer unique advantages. Though they may require higher upfront costs and longer development timelines, custom software provides tailored functionality and potential cost savings in the long run. Moreover, it can give companies a competitive edge by offering proprietary tools and features.
Remember, all software eventually needs updating or replacing. Regular audits of your tech stack, coupled with proactive measures to update or replace outdated software, are essential for staying ahead of the competition, reducing costs, safeguarding against cyberattacks, and delivering optimal experiences to your staff and customers. By neglecting these actions, you put the health and survival of your company at risk.
If this blog got you thinking about when your last software checkup was… you can contact our team.
Deployflow, has the expertise and experience to help you choose the best for the future of your organisation!