Digital transformation has been at the forefront of discussion for years. As the pandemic started, people wondered whether an investment in tech would take a backseat as companies scrambled to find their footing.
But, we saw that enterprises continued to recognize the importance of having a robust and insightful tech suite to support their business and help them weather the storm.
Chances are your company is currently using some tools or forms of technology that are outdated, affectionately referred to as legacy systems. There may be parts of these systems that still operate as they should and support your business in the way it needs. Or, are your existing systems holding you back from capitalizing on new growth?
Understanding the current state of your tech suite and determining the right action plan can be tricky. That’s why we’re here to help guide you through it.
So the question begs to be asked, what’s better for your legacy technology systems?
There are some significant benefits to maintaining your existing legacy systems, one of which is cost savings. It’s not a secret that the cost of upgrading your technology suite can be expensive and time-consuming.
The initial investment is high, and the time it takes for your staff to get up and running on the new system means your production will take a slight hit. All of these are avoided when you opt to maintain your current system.
As long as the existing system is operating up to speed and offers the insights you need in a reliable manner, there’s no immediate need for investing in a whole new system. Having a process in place that your team is familiar with means that your business can continue to operate smoothly until you move to upgrade your system down the road.
Many businesses find that their legacy systems need to be updated to give them the better cost-saving measures and insights they need in today’s environment. Today, new technologies offer features like artificial intelligence and automation capabilities. Meaning organizations can get more in-depth data and save time on tasks by delegating work to automated systems.
Companies are often given a more reliable and collaborative look at their operations and business relationships with a modern legacy system. Data is consolidated into one centralized location, providing greater agility and flexibility when faced with disruptions.
As enterprises expand their operations globally, modernized tech suites also help to protect them from risk and fraud. Since each country has its own regulations and rules, staying updated on the latest news can be tricky.
Investing in a platform with built-in features to ensure you follow all necessary regulations can save your company time and money. Certain solutions like our Tradeshift Platform can even help you ensure compliance across borders.
Ultimately, you’ll need to look at your legacy systems to determine whether it’s time to upgrade your tech suite.
Take care to analyze and evaluate the effectiveness of the tools you’re already using. As we look toward the future, digital transformation is proving to be a key theme for manufacturers and global trade enterprises. Having a technology suite that supports your business processes and can support your growth in the future is key to continued success.
Want to learn more about what kinds of features and capabilities our Tradeshift Platform provides? Our team of experts is ready to take you on a demo of our network to show you how we can help you make shift happen in your own organization. To get started, reach out to our team today.