Old Software is bad software

Applications now play a vital role in several key business operations. To get the desired results you need to ensure that all the software and applications in use are of the latest and the most stable versions. Several vital financial and administrative organizations currently rely on older software and this can have a huge impact on the whole economy. In this article we will discuss possible risks that are present when systems rely on older, unstable versions of software.

Risk Management is of great significance in IT sector. It involves risk identification, risk assessment and developing and managing appropriate response. Top management needs to step up and assure the stake holders that everything will remain in control and there will be sustainable progress regardless of the risks involved.

Every application, platform and software is a single building block of the whole business computation structure. We need to ensure that each component is compatible with the whole system and doesn’t affect or cause any hindrances to business activities. Hardware and the software are going through a rapid evolution process and they need to be constantly updated to match the pace of fast moving world.

There are many reasons why you need a software or infrastructure upgrade:

• Facing incompatibilities when you don’t find parts for older hardware.
• Having software and operating systems that are no longer supported or are unstable.
• While employing new technologies like cloud or taking environment friendly initiatives.
• Realizing need of upgrading the features of database or other supporting software.

Upgrading the software, operating systems and databases have tremendous benefits. It results in enhanced performance and also improves system’s integrity and security. Usually infrastructure upgrades require you to update your software to keep it supported. If you don’t for the upgraded versions of software you may face the following risks.

• It may result in application becoming unpredictable or even completely useless.
• Replacing an older component may become an issue.
• No warranties or service agreement are present for older software.
• Old software makes production processes slower and may even result in complete failure.

Every application or software is a part of a much larger computational system. It is important that your software is able to interact with the whole system and can match the pace of the rest of the world. Every other day a newer version of software comes in the market to take full advantage of the modern technologies and high tech hardware.

Reducing risks, better risk management and reduced costs are the reason why you need to upgrade your software to newer versions. An efficient risk response is offered by newer, more stable version which helps you in responding to all the business opportunities in a more efficient and cost effective manner. So we can conclude that old software is the source of many business problems and if you want to minimize various risks you need to have a newer, stable version of software.