For Finance Professionals Who Are Looking to Add Strategic Value to Their Organization
This is the second 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 #1 with you. Today, let's look at the 2nd key in this important process:
Key #2 - Develop a plan!
Don't embark on a software selection or outsourcing process and make it up as you go along! Have a clearly defined process and plan for identifying your objectives and requirements, developing an economic model, identifying your decision criteria, evaluating your options, doing your due diligence, and making a decision. Understand who needs to be involved in the process, who the ultimate decision-makers are in your organization, and what the milestones are between now and the time you will make a final decision.
To whom will you have to present your recommendation? Who will sign legal contracts with software vendors and other third-party providers, and will they be on vacation during a critical time? Does legal need to review the contracts? Will you want to do customer reference calls? You'll need to allow time for all of this in the process.
If you don't have a plan, you are bound to fail.
If you don’t have a plan, you are bound to fail. And make sure you know from the very beginning whether the end goal of the process is to make a decision and move forward, or just gather some information and do some research. You don't want to waste your time, the time of your colleagues and company management, and the time of potential vendors and service providers by spending a bunch of time doing a detailed solution evaluation or contract negotiation, only to "see what's out there" or "gauge the market". There are better, more efficient ways to do that without going through a full-blown software or service provider evaluation.
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.
Or stay tuned to this blog series and we'll share each key one at a time...
You can also subscribe to our blog. Just click the button below.
