Software systems are the backbone of many modern businesses – they are more vital each day for production, transportation, and distribution of products and services, and outside of a very select few niches, your company will be impacted if you’re using bad software programs. The damage bad software can do to you isn’t abstract, but rather, it has the ability to completely force you out of the market. This article hopes to communicate the importance of a professional software system by showing you the extreme tail-end risks involved. They might not be likely, but they’ll kill your company.
Security failures are perhaps the most common and the most damaging thing a bad software system can do to you. A bad, and most often deprecated and old, software system exposes your company, your employees, your clients, and your contractors to security risks. These software systems often have a lot of security issues, and it is rather trivial for someone with a modicum knowledge of hacking to be able to access data without permission. Here are ways security failures can end your business:
Opens you up to lawsuits: if sensitive client information were to leak, and it was obvious you were negligent, this could open you up to liability lawsuits to the tune of millions of dollars. There have been numerous companies that had to file for bankruptcy due to this.
Your clients won’t trust you anymore: most businesses are built on trust – if your clients learn their personal information isn’t safe with you, if your employees realize they are putting themselves at risk by working for you, this will make you suffer huge loses. You’ll have to deal with a lot of blowback from your clients and employees, and you’ll potentially lose most of them. This could spell the end of your company.
Potentially millions of losses: trade secrets are how you stay competitive and rake in revenues in the business world. If your competitors learn how you conduct your business, they’ll be able to undercut you immediately. A security leak could potentially reveal your hand and make you lose any competitiveness you might have in the market.
Communication and data are the backbones of most companies nowadays. Without extensive recorded data on transactions and without immediate and fast communication and responsibility-allocating software, most businesses will stop working. Sadly, as your company evolves and gets larger, the previous software system becomes ill-equipped to fulfill all your communication, data storage, and data processing needs. You’ll find yourself in increasingly precarious positions as you try to appropriate the tasks and processes to accommodate the software system you’re using.
If you don’t solve it by replacing or upgrading it, you’ll start seeing breakdowns in communication, inconsistencies in the data, and a lack of accountability as your business start becoming more chaotic. This will make you less productive, less competitive, and less profitable. A trifecta that could make you lose your business. Thankfully, you can hire a professional and inexpensive software house like cshark.com to help you create the perfect bespoke software system that will equip you to compete in the modern market.