As a business owner, I’m constantly examining where best to cut costs when it comes to managing business expenses. I don’t take these decisions lightly and must be sure to look at the downstream effect of each choice. Recognizing the distinction between cost and value is a concept that can make or break a business, especially when it comes to maintaining software and technology infrastructure. It’s important to understand that while costs are expenditures, investments are strategic decisions that yield long-term benefits and growth.

Some people approach car ownership with a casual, borderline reckless, mentality of driving a car until it no longer runs. If it reliably gets them from point A to point B, they’re happy. Maintenance is often pushed off, and when the inevitable breakdown happens, there’s little frustration because the driver “got their money’s worth.” Why bother investing in a car that has given them its all and served its purpose? They might even quip, “My car didn’t owe me anything.”

Well, unless that car kicks the bucket in the middle of nowhere without cell service, maybe this mindset makes sense for a depreciating asset that has no long-term impact on anyone’s livelihood. Personal choice.

Now, compare this approach to running a business with outdated or incompatible software. Choosing not to maintain or update your firm’s software may feel like a reasonable business decision at first. It saves money in the short term, like skipping oil changes saves on maintenance costs. But when the “breakdown” inevitably occurs — when outdated systems fail, risk data loss, or cause major operational disruptions — those savings can quickly turn into serious expenses.

In the legal recoveries industry, there is no benefit that I can see in viewing VT software as a depreciating asset. For more than 40 years, Vertican’s collections technology has been the foundation of our clients’ businesses, positively impacting everything from compliance and growth to Sender satisfaction and profitability. It’s not just software; it’s an investment in the success, stability, and future of your firm – a trusted partner that continues to evolve with your needs, empowering you to scale forward.

Understanding Value … and Responsibility

Firm principals, in particular, should recognize the critical role they play in the upkeep of their systems. It’s no longer acceptable to say, “I didn’t know the repercussions of outdated software or the relevance of system requirements.” As your technology partner, the VT team is here to empower, support, and inform, but the ultimate responsibility lies with business owners and IT managers to understand and maintain their technology.

Here’s a recent example from our own client interactions that I want you to consider. A law firm running an outdated version of Collection-Master sought support for an issue which they misclassified as a bug. Our Client Success team quickly recognized that the client’s outdated system was the root culprit. It wasn’t a flaw or a bug in our software but rather a compatibility issue tied to their decision not to perform an update. This scenario isn’t unique. Time and again, we see that neglecting to stay current leads to inefficiencies and system issues that negatively impact everyone involved.

We’ve made our policy clear: we do not support outdated software that is more than six months old. This isn’t an arbitrary rule; this policy is critical to your success and our ability to deliver on our brand promise of data with integrity. Data with integrity fosters efficiency, compliance, and profitability. I encourage you to review our policy on outdated software and current system requirements to ensure your firm is in compliance. Ignoring these guidelines only increases your risk of disruption.

“Investing in up-to-date software is akin to having a good insurance plan. It minimizes disruption and ensures you’re well-positioned to address issues when they arise.”

Running old software isn’t just about the avoidance of compatibility issues. Often, an update to our systems, designed to improve performance or security, can negatively interact with an outdated application on your end. That presents potential problems, which become even more expensive and complicated to solve, including collateral damage to client relationships and exposure to regulatory or data security risks.

What are you willing to trade for system failures? How many miles are you willing to drive without oil until your car breaks down?

When you stop making investments in critical systems, you’re largely choosing to let failure become inevitable.

So, what are your options if you just don’t have the bandwidth or staff to take care of back-office IT updates?

Your Needs Matter: When Can You Jump the Line?

Think of being a patient in a busy emergency room. We can’t simply dictate the order in which we’re seen; medical staff prioritize cases based on severity. At Vertican, a Severity Level 1 incident (such as a critical system failure) requires immediate attention and takes precedence over less severe issues.

Keep in mind, if you’re running outdated software, it’s as if you’ve compromised your position in the triage queue. The good news is that Vertican does offer a “line jump” option for lower-severity support needs that are super important and impactful to you! Emergency assistance is available even for incidents that aren’t classified as critical. Naturally these services come at an additional cost.

“Investing in an emergency support ticket is akin to a Disney Lightening Pass. It allows you to skip the line and expedites a resolution to what you deem urgent to the flow of your business.”

Proactive Measures for Long-Term Value

Maintaining current software and systems isn’t just about preventing failures; it’s about unlocking the full value of your investment. Think about the cost versus value equation. The upfront expense of keeping software updated pales in comparison to the cost of lost productivity, client dissatisfaction, or potential legal exposure when things go wrong.

This is why we recommend regular reviews of your technology infrastructure. Take advantage of Professional Services to ensure your systems are optimized and compliant with our latest updates. Not only does this protect your firm from potential issues, but we can ensure your firm is able to use the enhancements that we continually introduce.

So, while you might choose to drive your vehicle into the ground, your firm’s technology infrastructure demands a different strategy. Treating your software with the care it deserves will pay dividends over time, delivering value that extends well beyond the cost of maintenance.

Consider taking proactive measures today. Review your current software version, check system requirements and capabilities, and truly evaluate your firm’s commitment to staying up to date. Let’s make decisions that maximize value, not just minimize cost. And as always, the VT team is here to support and guide you every step of the way.