It can be difficult to keep up with the constant stream of new features and release updates from Microsoft for your Dynamics GP solution. But it’s critical to upgrade to the latest version to better leverage your investment, take advantage of new features and functionality, and benefit from better security and support.
In December of 2016, Microsoft introduced the Modern Lifecycle Policy meant to provide continuing support for certain platforms, including bug fixes, new features, latest tax updates, regulatory updates, and more.
Microsoft Dynamics GP had an update released in November 2021 to their newest version: 18.4.
To get the most out of your GP solution, upgrade to the latest version.
Here are five reasons why it’s beneficial to update your Dynamics GP:
Bug Fixes and Compliance Updates
At the heart of the system updates that Microsoft rolls out are service pack, hotfix and compliance updates. Service packs are typically released every six months and provide fixes to reported problems. Microsoft looks at the top requests submitted by customers regarding issues with new features. Hotfixes are provided monthly and are quick solutions to smaller problems.
Lastly, updates ensure you remain compliant with tax laws and accounting best practices. For example, if your company relies on Dynamics GP for running payroll or completing certain forms (such as W2s or 1099s), these updates are critically important.
New Features and Functionality
Every GP update also comes with new features. The latest version of GP includes increased security measures by supporting multi-factor authentication and enabling users to mask social security numbers on human resource reports. It also includes helpful functionality updates such as copy and paste with Payables transactions.
Easier to Integrate ISV Products
Routine GP upgrades allow for a more seamless connection to Independent Software Vendors (ISVs), also called third-party products. If there’s an ISV product that you’re interested in using, will your current version of GP support it? Oftentimes, leveraging a third-party product as well as your GP solution requires using the newest versions of both.
Support
The older your Dynamics GP version, the greater chance there is that Microsoft no longer offers support, as each version contains an end-of-support date. Without support, you increase the risk of data security issues, potential bugs and malware attacks, and compatibility problems. Older versions are also no longer on mainstream support, which are the automatic updates that provide critical regulatory changes regarding payroll and taxes.
Prevent Workarounds and Reduce Costs
Although frequent upgrades might seem like a hassle, completing them on time ensures that your Dynamics GP is running efficiently and that you’re benefiting from the latest features and functionality. When employees must rely on outdated systems, they may create workarounds to complete their tasks, which may compromise your business’s data and security.
Routine updates maximize the benefits of your GP solution, and by keeping your system regularly updated, the upgrades themselves aren’t as time-consuming or taxing on productivity. And by staying current, you’ll be reducing upgrade costs; it gets more expensive to upgrade to the latest version the longer you wait.
If you have questions about extending your GP with the benefits of an upgrade, reach out to one of our experts https://www.enavate.com/talk-to-an-expert.
