Is Your Outdated Technology Putting Your Firm at Risk

Posted by Deltek on February 28, 2020

 Is Outdated Technology Putting Your Firm at Risk?

Is your firm struggling to increase cash flow or are you starting to hear complaints from your teams about administrative tasks becoming a burden? Believe it or not, the software your firm uses day-to-day can affect your business in more ways than one.

Explore some of the ways that outdated software can create challenges in your firm.

Outdated Technology in Your A&E Firm

Businesses today rely on software for almost everything they do. From managing communication to tracking financials, software does it all. That’s why ensuring that the software you’re using is secure, reliable and supports how your business runs today is imperative to your architecture and engineering firm.

No one wants to continue using something labeled “outdated,” but the unknown of switching software can be overwhelming and appear time consuming. While it may seem easier to keep business as usual when it comes to the software you’re using, as industry needs change so will your software needs. What if by resisting updating your software and trying to maintain the status quo, your firm’s software is becoming a liability?

 

5 Ways Using Old Software Creates New Challenges


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It’s important to be aware if this is happening in your firm, so that you can mitigate the risk it’s imposing. There are five warning signs that your software is a liability and using even just one outdated technology tool can pose an array of issues from revenue loss and cash flow issues, to data storage problems, and more. This can result in an overall loss of trust in your data’s accuracy, which can cause your teams to be overworked yet underutilized.

If this is happening in your firm, it may be the perfect time for a change. Otherwise your firm could face far bigger issues with aging technology at the core.

Even though change can be intimidating and thinking about adjusting to a new software can seem like a big commitment, the health and future success of your firm is worth the time and effort needed to invest in the right solution to optimize your business.

The Bottom Line

At the end of the day, it all comes down to the long-term plan for your business. If your firm is experiencing challenges due to outdated software today, these will only continue to increase as time goes on.

With the right software, your firm can position itself to overcome the industry challenges it’s facing today, and stay competitive for the challenges of tomorrow.

Next steps

Ready to hear more about how outdated technology could be negatively affecting your A&E firm and how to transform your firm? Download the whitepaper, 5 Ways Using Old Software Creates New Challenges or register for the webinar, Pennoni’s Digital Transformation Journey, Improving Profit One Project at a Time.