The 6 Keys to Transforming Your Finance and Accounting Organization – Key #4

For Finance Professionals Who Are Looking to Add Strategic Value to Their Organization

This is the fourth 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 #3 with you. Today, let’s look at the 4th key in this important process:

Key #4 – Understand the economics of the decision

So many companies we talk to say, "We want a new accounting system, but aren't willing to spend more than $XXX on it." But when we ask how they arrived that number, they say, "That's how much we are spending today, and we certainly don't want to spend more." As if it were a garbage disposal service or electricity plan. Or something like, "Anything more than that is simply too much for a company our size."

THERE SHOULD BE A NET POSITIVE BENEFIT that is real and measurable.

This type of thought process ignores the whole reason you might consider changing software, or even using software in the first place! THERE SHOULD BE A NET POSITIVE BENEFIT that is real and measurable. Why even have software if that is not the case? If you said your budget could go no higher than $10,000, and I told you if you spent an extra $10,000 you could save $30,000 more, would you spend the $10,000? Successful business owners and managers understand this concept.

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...

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