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 important 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.
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 to provide fixes for reported problems. Microsoft updates continue to enhance Office features so you will need to update GP to take full advantage and maintain compatibility. Mainstream support for Microsoft Dynamics GP 2016 and 2016 R2 ended on July 13, 2021. If you are still on these systems, you will not receive updates until you upgrade.
Microsoft 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 Microsoft updates are critically important.
- New Features and Functionality
Every GP update also comes with new features. Microsoft updates look at the top requests submitted by customers regarding issues with new features. The latest version update 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 and Payroll transactions, and the ability to use the mass update to update descriptions for GL accounts.
- Easier to Integrate ISV Products
Routine GP updates 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.
Although Columbus will always support our clients on any version of GP, Microsoft no longer offers support to the older versions, as each version contains an end-of-support date. Without support, you increase the risk of data security issues, potential bugs and malware attacks, as well as 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 GP upgrades might seem like a hassle, completing them on time ensures that your upgraded Dynamics GP is running efficiently and that you’re benefiting from the latest features and functionality. When employees have to rely on outdated systems, they may create workarounds to complete their tasks, which may compromise your business’s data and security.
Routine GP updates maximize the benefits of your GP solution, and by keeping your system regularly updated, the GP 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. The current Dynamics GP Roadmap extends past 2028 so GP is NOT going away any time soon and it is well worth the investment to upgrade and stay up to date with the latest release.
Have you updated Microsoft Dynamics GP to the most recent version? If you're thinking about it or have already done so, sign up for our free webinar on November 9th. We'll look at the new features and improvements included in Dynamics GP 18.4, which was released in October.