impact of changing /updating the Organisation Version Hierarchy number to the next version up

We need to change  the org hierarchy version number to the next version in line with a restructure .

Before this is done we need to understand what the impact is.

would we need to any other changes in any other areas of HR or AP or PO in line with the new version number or do ther areas that reference the new version of the hierarchy automatically get updated. 

Could anyone with knowledge of this please let us us know.

many thanks