At present, players vote for their top performer of the campaign in late February and early March but Ferdinand feels it should be done later in order to gain a truer reflection.
Tottenham's Gareth Bale took out the Player of the Year and the Young Player of the Year on the PFA awards night and was later adjudged to be the Football Writers' Association top player as well but Ferdinand believes it could have been different if the voting system was not so flawed.
"The problem with the PFA awards is that the voting system is flawed," said Ferdinand.
"There's so much technology at hand that you could do it over an iPad and just say 'bang, bang, bang' at the end of the season.
"I am not just being biased but if it was voted for today Robin van Persie would win it by a country mile.
"But it was voted for by the players in late February or March.
"Gareth Bale is a worthy winner, but for me it isn't a true reflection of the season."