We’re all familiar with the major retail security breaches from major retailers like Target and Best Buy, where a lack of updated software systems put millions of customers, and their sensitive personal data, at risk. Just this month, Kiddicare, a children’s wear retailer, encountered a breach that leaked personal details of its customers including names, e-mail and home addresses and phone numbers. About 794,000 people may have been affected in just one example of many newsworthy security breaches in the last few years.

Inadequate security patches and outdated legacy systems allow hackers to infiltrate private networks and steal personal information such as credit card numbers, home addresses, and even social security numbers, increasing the overall risk for identity theft. The task of updating legacy software systems can seem daunting and expensive, but is far less detrimental to a company than an actual data breach, which may result in restitution, brand damage, and lawsuits. Even after all of the major breaches that have taken place in recent years, there are still a large number of corporations that still need to update their systems….and fast.

According to Information Age, “legacy systems are slowing retailers down, preventing them from delivering innovation. Retailers need to act now to meet the demands of their customers with the speed and efficiency that they expect.” This is yet another reason for companies to take the leap and update their software systems ASAP. The Millennial generation demands innovation, and companies that lag behind will suffer. Doing nothing is no longer an option and threatens your market position and ability to gain new customers.

As evidence, a recent SafeNet survey of 4,500 adults in the US, UK, Germany, Japan and Australia highlighted the impact of data breaches on their likelihood to do business with that retailer again.

Cloud-enabling software solutions such as Morphis can help retailers get a better grasp of their software and figure out what needs to be eliminated, duplicated, or updated for optimal performance, security, and innovation. Legacy-to-cloud modernization provides customers with the solutions they demand for availability on any device, as well as from an aesthetic user-interface standpoint.

Get ahead of the game by downloading our white paper and reviewing our step-by-step guide to identifying which applications to modernize and how to get started.