For Finance Professionals Who Are Looking to Add Strategic Value to Their Organization
Well, this is it: the sixth post in our series, Implementing Change – The 6 Keys to Transforming Your Finance and Accounting Function.
We’re excited that you’ve decided to take the first step on your journey towards transforming your finance and accounting organization – either through implementing new software, engaging consultants to streamline processes and systems, or outsourcing certain functions. AcctTwo is here to help you evaluate your options and make the best decisions that will propel your business forward.
Last time we shared Key #5 with you. Today, let’s look at the 6th and last key in this important process:
Key #6 – Don’t just focus on the software
I say this for two reasons:
First, with Software-as-a-Service, the whole software business has changed. You don’t just buy the software one time as it exists at the time you buy it and then worry about upgrades later. In the SaaS world, you’re also buying a long-term relationship with the SaaS vendor and their product roadmap and vision for the future. Many SaaS vendors do major release upgrades 2-4 times a year. With that pace of change, who knows what the software will look like and how it will function 2-3 years from now? So understanding the vendor and where they are headed is equally, if not more important than what the software can or can’t do today.
Understanding the vendor and where they are headed is equally, if not more important than what the software can or can’t do today.
Secondly, anybody who has bought and implemented enterprise software can point to stories of both unbridled success and miserable failure, even with the same software package. So if two different companies can implement the same system and have such different outcomes, what is the difference? Certainly the capabilities and availability of the customer’s internal team are an important factor. But a huge factor in the success of a software implementation (or an outsourcing arrangement for that matter) are the project management and technical capabilities of the services team doing the implementation, whether that’s the software vendor’s professional services team or a third-party integrator.
If you’re worried about taking as much risk off the table as possible associated with such an important project, you’d better really spend some time digging into the implementation team’s methodology, their capabilities, and what their customers are saying about them. This can make all the difference, and may be more important than which software you choose.
You’ve embarked on an important journey to transform your finance and accounting function, through a combination of software, process redesign, outsourcing services, or all of the above. The bottom line is that your success, and maybe even your career, depend on getting this right. If you follow the 6 key steps we outline, you’ll have a better chance of success, probably make a greater positive impact on your business, and eliminate as much of the risk in the process. The AcctTwo methodology is based on these fundamental ideas, which is why we’ve been successful and have so many happy customers. We hope you will be one, too!
Whether your organization needs better tools and technology to manage its finances, or if you’re interested in having AcctTwo manage some or all of those finance functions for you, we’ll provide you with a complimentary assessment of your finance and accounting function – just follow the link below.
What are the 6 keys to success in such an important decision?
Download our free eBook, Implementing Change: The 6 Keys to Transforming Your Finance and Accounting Organization, and learn what these 6 critical success factors are.
Marcus is the founder and CEO of AcctTwo, a services and technology company delivering the Future of Finance and Accounting to nearly 1,000 organizations throughout the country. Marcus and his team have firsthand experience implementing the processes, controls, and technology needed to optimize financial resources, no...
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