Every system is eventually retired either because the business shifted priorities or the system has simply grown out of date. Whatever the reason, upgrading to a new software system can bring a ton of advantages provided that you accurately evaluate the costs and benefits of the effort. Here are some tips to ensure your system replacement brings value:

• Be sure to revisit the system requirements. Determine if all the requirements still apply, and if any need to be added or updated.

• Look for needed improvements over the old system. Identify the challenges with the existing system that you need to address. Likewise, analyze the business processes associated with the old system and determine if any efficiencies can be made.

• Know what you need to do with your data. Will you be able to migrate the old data to the new system? Or to another location? Know ahead what capabilities you need.

• Ensure the selected replacement has more benefits than costs. When comparing various solutions, remember to balance the expected efficiencies and savings against all the costs (both one-time and recurring), including: maintenance/licensing cost increases, the cost to migrate the data and decommission the old system, and the cost to review and streamline the business processes .

Replacing an old system with something new and improved should be a project with clear advantages for both the business process and the bottom line. Take the time to really understand the costs and benefits of your replacement project so there is never a doubt about your choice and its positive impact.