If there is something keeping you up at night, it is the idea that the applications critical to running your business will fail.
The average lifetime of custom business software is about 7 years. Within that time, a lot can happen. The amount of data can become too much for your software to handle. Bad data can enter data storage, producing errors and slowness issues with software performance. Data, and parts of the application can disappear. The addition of new features can introduce new bugs in your software. Disgruntled employees might intentionally sabotage your software. Older software is more likely to be filled with security holes, which will be exploited by hackers.
The software may have been crafted before modern concepts designed to minimize issues have emerged. A lot of software still don't have correct data validations, still have obsolete architecture, and are still using deprecated software packages.
Your bad software is bleeding your company dry. Software is designed to greatly increase productivity. When certain features do not work as expected, your productivity takes a heavy hit. Customers (and revenue) are lost because of bad data or mismanagement caused by broken software. Customers are complaining of bad service and it is caused by software errors.
Bad software impacts employee morale. Broken software makes for a distressing workplace. Employees want to feel that they are providing satisfaction to customers, and errors that make simple tasks difficult or impossible deny your employees that satisfaction. Worker productivity plummets, and your best employees leave for greener pastures.
In an increasingly digital world, hackers will exploit bad software and cause massive (and often critical) damage to your company and to your brand. Using old software is risky because they are more buggy. Remember the WannaCry ransomware attack, which targeted outdated computers, or the Equifax hack which was caused by an obsolete software package. Older software is typically unpatched and use obsolete engineering practices, meaning that not keeping your software systems up to date is a catastrophic risk.
When you are in this situation, it is time to consider modernizing your software.
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