Friendly reminder - Deltek Costpoint 7.1 will be entering sustaining support beginning on March 1, 2022!
What does The Great Pyramid of Giza and the Great Wall of China have in common? They were both built to last forever! Your Enterprise Resource Planning (ERP) Accounting software? Not so much. Technology today seems to come with an ever-increasingly shorter lifespan, most accounting and finance departments replace their systems, servers, and mobile devices regularly when they begin to slow over time, stop receiving operating system updates, and/or fall out of warranty.
In other cases, end users may be forced to move on due to liabilities caused by product end-of-life (EOL). Deltek Costpoint 7.01 and Time and Expense 9.0 are both good examples. When Deltek stopped issuing updates and patches, those systems effectively became obsolete and more vulnerable to security threats. Additionally, software vendors stopped guaranteeing that new applications would be compatible with these outdated and unsupported systems. Still, even after EOL, some individuals and companies have a hard time letting them go, and they keep using their EOL software at their own peril (we get it, sometimes breaking up is hard.)
On average, about one in every four or 25% of organizations do not plan to migrate from their current ERP system until after its EOL date. Do you know what risks are involved if your organization decides to hold out? Does it really matter if you continue running unsupported software that is beyond its end-of-life date?!
Continue reading as we cover the 5 most common dangers you need to be aware of if you decide to continue running software, like Costpoint 7.1 after its EOL date.
5 Most Common Dangers of ignoring EOL timelines… (Warning! Warning! Danger Costpoint 7.1 User!)
End-of-life software dangers:
- Security vulnerabilities: No more security fixes being issued by Deltek means that Costpoint 7.1 is soon to be a minefield of security hazards. For this reason alone, you should update ASAP. A VPN and anti-virus are not sufficient protection against un-patchable vulnerabilities, which ransomware hackers are quick to exploit.
- Software incompatibility: New applications like Costpoint 8 are optimized for the most recent versions of other software like Cognos 11. That means when using EOL systems, you can’t upgrade to the latest and greatest, so you’ll have to hold onto legacy applications (which are likely also EOL or soon to be).
- Compliance issues: Government contractors who operate in regulated industries like aerospace and defense deal with lots of sensitive government and customer data. Entrusting your critical information to a decade-old system or an out-of-date unsecured application? STOP NOW! In addition to security lapses, it could result in drawn-out audits, hefty fines, and even possible company shutdowns.
- High operating costs: The costs of maintaining and bug-fixing any post-EOL software can be steep. The expense of paying outside consultants to patch an EOL operating system like Costpoint 7.1 can greatly exceed the price of simply replacing it with the current system (Costpoint 8). What about the high cost of a mission-critical application failing? These are all things to consider.
- Poor performance and reliability: Chances are, if you’re still running legacy applications or old versions of Costpoint, then you’ve got some aging servers and workstations hanging around the office too… adding to your risk because these are likely out-of-warranty devices that are prone to breaking down. Consider that downtime alone could be more costly than an overdue upgrade.
Simply put, there’s no bulletproof way to run EOL software. The potential risks typically outweigh the rewards, even if you’re budget is constrained. Security, compatibility, and compliance are all big problems for Government Contractors contending with EOL software. So, what’s the solution?
Solution – Say Goodbye Costpoint 7.1 – It’s time for your Costpoint 8 Upgrade
Upgrading to Costpoint 8!
Kinetek can help with your upgrade plans including:
• Implementation, technical and system upgrades
• Data conversion and reconciliation services
• Review current Costpoint usage and health
• Best practices for system setup and new features
• SME training for system administrators and end-users
• Provide testing, guidance, and support
• Go-live and post-upgrade support
Don't risk going unsupported; customers should plan to upgrade to Costpoint 8 before the March 1, 2022, Costpoint 7.1 EOL date, to receive critical fixes and security updates. For more information on how we can help transition your company from an end-of-life solution to a current supported and secure product contact us.
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