The propensity to buy online is increasing year on year**, so the wise money is on improving your business's ability to transact online - Magento 2 provides a secure, scalable and flexible platform to do so.
The Coronavirus pandemic may lead merchants to focus on restricting their spending, but history shows us that investment in IT infrastructure equips a forward thinking business to take advantage of the upturn when it happens*.
Your current M1 site is working well for your business and your people understand Magento. Migrating to M2 means your ERP, warehouse systems, delivery etc will continue to function with minimal interruption, allowing your teams to concentrate on developing new products / markets and continue to grow turnover. With new Magento 2 sites starting at £20,000 why would you risk moving to a different platform?
Still unsure? Here are a few more compelling reasons to migrate to M2
PCI-DSS compliance - As a director / manager of an ecommerce business, if you use a third party payment gateway (e.g. Worldpay / SagePay), the likelihood is you’ll self-validate your PCI-DSS compliance via a Self-Assessment Questionnaire (SAQ). A requirement for compliance applicable to all merchants is that you need to install security patches within a month of their release. As of 1 July 2020, Magento will no longer supply security patches for its Magento 1 platform, which means you can’t comply with PCI-DSS and won’t be protected from any malware targeting your site. (Source: Adyen).
Lead times - With larger ecommerce sites taking 4 - 5 months to build, this means you are highly likely to be trading on your Magento 1 site post end of support. This means you are non compliant in terms of PCI-DSS and will incur substantial fines if your site is compromised by malicious code.
Increased site development costs - Accredited ecommerce agencies are busy and reaching capacity. This will mean longer lead times and possible higher costs. There are no commercial benefits in delaying migrating from M1. The price will only increase and you will be left trading on a non-compliant site for longer.
Disaster management - Industry experts and payment service providers believe internet criminals are likely to target Magento 1 users after June 30th 2020 to exploit any security weaknesses. Any incursion and data loss from this point is likely to result in substantial fines, since your M1 site will be non-compliant with PCI-DSS self validation. It’s also worth bearing in mind that merchants who do suffer cyberattacks have on-going costs in terms of PCI fines and damage to their brand reputation.
What will an M2 Site cost?
Theme based sites with simple integrations start at £20,000. Here are some examples of recent Absolute builds with ballpark budgets:
How can Absolute help?
- Established for over 25 years, Absolute are award-winning Ecommerce experts, Digital Marketing & Brand Consultants
- £85 per hour flat rate.
- Magento Certified, in-house development team - we never outsource development.
- Highly accurate estimates.
*Harvard Business Review
**Office of National Statistics