Software upgrades include changing the version of an current ERP or CRM system, or installing a newer software system. Whatever the reason, upgrading should translate into a favorable ROI (return on investment), that can be supported by projected growth in revenues, or a decrease in costs.
Most base mid-market accounting software solutions conform to industry standards, however, almost all businesses have some uniqueness about their business compared to industry standards. There are also many 3rd party add-ons that have already been developed to cater for specific variations of standard type industry setups. See some of our popular custom add-ons.
It is good to keep up-to-date with the latest enhancements and features so that you can remain competitive with regard to your business software technology needs. Falling too far behind in version upgrades can be more costly in the long run, as it becomes more difficult to get back onto the latest software version. Upgrades are usually done annually, while smaller patches can be installed as needed. Most software companies usually only support their last 3 versions, so if you fall too far behind you run the risk of using software that is unsupported.
What is the difference between software updates and software upgrades?
The difference between and upgrade and an update, is that an upgrade will be a new version of the software, whereas an update usually refers to a patch or fix to the software.