01.Legal Requirements
Certain industries and countries have regulations that require the retention of business data for a specific period.
02.Historical Analysis
Data from legacy ERP systems can be valuable for historical analysis and trends.
03.Evidence in Legal Disputes
In legal disputes or audits, old data can serve as evidence.
04.Compliance Requirements
Certain industries and organizations must adhere to compliance regulations that necessitate data retention.
05.Contract Fulfillment
Information about past transactions and contracts may be needed to fulfill obligations.
06.Taxation Reasons
Financial data may need to be retained for a longer period to comply with tax regulations.
07.Audits
Internal and external audits require access to historical data.
08.Knowledge Preservation
Experience and knowledge from the past may be stored in old ERP data.
09.Research and Development
Historical data can be useful for future development projects.
10.Historical Transactions
Customer inquiries about previous transactions require access to legacy data.
11.Sales Analysis
Legacy sales data can provide insights into sales trends and customer behavior.
12.Product Lifecycle
Information about old products and their performance is crucial for strategic decisions.
13.Benchmarking
Comparisons with past business performance can help evaluate current performance.
14.Customer Relationships
Information about past interactions with customers can be helpful in maintaining customer relationships.
15.Training and Development
Historical data can be used for training new employees.
16.Compliance Audits
Regulatory authorities may require access to old data.
17.Troubleshooting
Legacy data can be useful in troubleshooting and assessing problems.
18.Business History
Business continuity requires the retention of business history and processes.
19.Decision-Making
Historical data can support strategic decision-making and planning.
20.Competitive Advantage
Comprehensive knowledge of your own history and business processes can provide a competitive advantage.
Reference link: https://avendata.com/blog/20-reasons-why-legacy-erp-systems-must-be-archived-and-data-should-not-be-deleted
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