Understanding when to upgrade your Markit EDM installation

Does your firm avoid software upgrades whenever possible? You’re not alone. Many businesses have experienced a difficult software upgrade (or two). The most common reasons for painful software upgrades are a lack of information prior to starting the upgrade and delaying the upgrade process until absolutely necessary.

At Continuus, we believe that a proactive upgrade process can transform your company’s perception of software upgrades. We always recommend running one version behind the latest Markit EDM version. Running one version behind the current version will allow you to be confident in the stability of the release you are implementing, but still allows your company to maintain a version that is supported. Markit EDM numbers releases using the M.m.D.C system. M is the major version number indicating significant new functionality and features of EDM. This is typically an annual process. The lower-case m indicates that smaller features have been added to the major version. D shows the database version number that is incremented every time a change is required to the core structure of stored procedures of the EDM database. C is the code version number which indicated that a change has been made to the .NET code.

The chart below indicates the versions of EDM that are supported and unsupported as of today. Markit provides full support until 2 years after the date of release, then limited support for another year. 

markit supported upgrade table.png

Waiting too long to upgrade Markit EDM means that it is possible to run an unsupported version. In addition, completing an upgrade of more than one version at the same time is more complex than upgrading as new versions are released.

Fortunately, Markit provides webinars and release notes that can help you understand what to expect with each upgrade. By researching each upgrade, you will be able to understand when each release is stable and how it will impact your internal processes. Prior to upgrading, we recommend conducting a process state check. Conducing a process state check will ensure your installation is working properly and that all components are repaired and ready to be upgraded. If you are not able to conduct a process check internally, the professionals at Continuus are here to help. Our Markit EDM specialists can also help engineer you user interface (UI) to work more effectively with your specific internal processes and needs, improving efficiency at your firm. Seconds matter at an investment advisory firm. Ensuring your UI is intuitive and that employees are proficient with the new installation can help you meet your business goals.

Don’t be afraid of the upgrade process. Understanding the changes that are coming and taking a proactive approach can completely change your perception of the results of an upgrade, as it did for one of our clients.