Deveng24,   The reason it is failing is due to you not having that Backplane installed. The 1.03 firmware is meant for the expander backplane, which isn't installed if you have only 8 drive bays (it's only available for a 16 bay chassis). If you look here the latest version for the non-expander is 1.0.Hope this helps.    
Trying to upgrade an r720 BP firmware from 1.00 to 1.03. Ive tried to update the firmware from the per720 bootable and live service Iso however, it either does not update or stated not avail for my system (something to that effect).  The driver and download page show as per my service tag that 1.03 should be the latest firmware. firmware inventory shows; BP12G+ 0:1 ........1.00 My question is ... is the downloads page incorrect or do i need to do something?? System info; R720 LFF 8 bay  
R720 BP12G update 1.00 to 1.03