As your business matures, you’ll reach an age where you’ve outgrown the software for accounting that came with the box that started you off and you’re ready for a solution with all the capabilities your expanding company requires. Making the switch to a more powerful accounting software is essential for those who are looking to get a loan from a bank or are looking to get series A or seed round investors.
It is vital to select the right accounting* software, but that’s just the beginning. It’s time to make sure that you implement the right way. These 9 tips can aid your company in achieving the best results from the implementation of your accounting software.
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1. Set Clear Expectations
You’re more likely accountingsoftware that has enhanced or additional features when you’re making your selection. In most cases, you overlook the features your current system can perform well, and what you think that your new one can perform, too. It could cause you to be less than thrilled by the new system you just invested in.
Although your new and older systems might not work in the same manner, you should inform your supplier know what important features or functions you’re searching for within your accounting software.
2. It’s written
Certain specifications will be required by your company to use the accounting software of the future. What kind of reports and other outputs of data do often employ in your organization? Are you able to present investors and other stakeholders with data visualizations that are able to be utilized in a way that is more practical than endless rows of numbers?
If you created an RFP as part of the software selection process which makes you ahead of the game in documenting your requirements. If you did not, it is important to state your requirements clearly in writing before the implementation process can begin. This will help ensure that you and your supplier are in agreement on the services you’re getting.
(But do not make excessive customizations as they increase the cost of your system and make system maintenance tougher. It may be necessary reconsider your choice of a solution if you require a lot of customizations.
3. Choose a project champion or Working Group
Implementing new software is an initiative that involves everyone in the business. It will require a small group or individual to serve as the project’s champion. As the project’s leader, you ensure that everyone is on the same page and the project progresses.
If your project’s champion is an individual or a working group, you must choose team members who have an established ability to collaborate across functions as well as the authority to make decisions regarding the software’s implementation and also the capacity for tracking of the project’s progress against the plans, and the capacity to engage in continuous communication regarding the project both with colleagues and the vendor of software.
4. Create a common project plan
For a successful implementation of accounting software, a well-thought-out project plan is crucial. The plan will assist you through the process of implementing the solution correctly, on-time, and within budget.
While the vendor can be the primary person in developing the plan but your team must have input into the strategy to ensure that you’re all on the same page regarding what’s “success.” For example If you’re in need of certain dashboards but your plan doesn’t include it as a project stage–you’ll be following a strategy that leads you down the wrong path.
Even if the final product is just a spreadsheet, the project plan should include timelines, deliverables, and milestones. The plan should also allocate specific tasks to the people. All participants must be informed about their roles and responsibilities once the plan is agreed on. The vendor and you must update the plan regularly and monitor improvement.
5. Set up a System for Keeping the Everyday Work in Progress
It’s not uncommon for companies to assign the task of managing an accounting* system to those who handle the day-to-day accountingtasks. They’re the top experts on this job. Implementing a system can be time-consuming and can make it difficult for staff to perform their accounting* duties.
It’s the reason why some companies outsource their accounting* work to a trusted third-party while their internal team concentrates on managing the implementation and getting educated on new features and functions. This approach ensures the daily accounting* tasks continue to get done accurately and punctually. It also takes some of the pressure off your staff.
6. How to Prepare Your Books to prepare for the transition
When a new accounting software implementation is looming in the near future, it’s tempting to not be focused on keeping your work being done accurately while you transfer your time and attention to the new system. Don’t wish to move bad data into an accounting software that is new.
You’re looking for clean sheets of data that you can begin with, but trying to achieve that while you are trying to keep up with the accounting work that you do daily as well as oversee the software’s implementation could be overwhelming.
Make it a point to keep all your data current in your current accountingsystem. Also, ensure that you reconcile it thoroughly prior to the transition. It will be easier to begin your transition to a new system with clean data if your accounts are in a clean state.
7. Allow yourself plenty of time to check
It’s tempting to rush through the rest of the steps quicker in the event of delays or everyone wants to adopt the latest accounting* software. If you rush through the process, you’ll regret it later.
It is important to ensure that all end users are actively involved in testing the new accounting software thoroughly, checking the features and functions that you are planning to use today (and some you might use in the future) and making sure that all information is correct. It’s a lengthy process, but one you don’t want to rush through.
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8. Don’t cut corners on the training
It’s not enough simply to explain accounting software. You need to be able use it in a way that your company utilizes it. It’s not very helpful in the event that your team is instructed only in one method to create an order for purchase (PO) however you have customers with distinct PO requirements.
Before the training gets underway Make sure to consider the many scenarios and possible scenarios your team will need training on. You should include a mix of interactive, live training and data that users are able to use at their own leisure. Video tutorials are particularly effective as they allow you to connect to the new system visually and emotionally. It’s also recommended that the instruction is given by someone with an accountingor accounting background not an engineer who designed the software.
Just as your accounting* software training should be user-friendly Make sure that the system’s documentation is easy for your staff to understand. Documents that are lengthy and written are not the same as materials that are broken into smaller chunks and includes visuals.
9. Plan for Post-Implementation
As important as initial preparations for the implementation, a solid post-go live plan is just as crucial. It is the place to address all issues that are unsolved or didn’t get discussed during the initial plan. It’s also an opportunity to evaluate your current processes and determine if they should redesign them in order that you’re using the software according to the intended use and make the most of its features and functionality (as instead of creating software workarounds).
The preparation for post-implementation is essential. This should be coordinated in conjunction with your internal team as well as your accounting software vendor. This will ensure that all parties are on the same team. They’re all agreeing that the transition will be difficult but they also have a solution-focused group available to resolve any issues. The stress of your staff can be lessened and anxiety eased knowing there’s an action plan to support post-implementation.
Scrubbed can assist you in making the move to an accounting system that is more robust for your company. We’ve assisted countless companies to identify their needs for their accounting systems, evaluate software solutions, and ensure that the software will work in tandem with existing processes and other systems.
We can also offer software implementation support, take off your accounting work while your team is focused on the implementation, and then prepare your accounting books for the transition.
Contact the accounting* and finance specialists at Scrubbed to learn how we can support your switch to more reliable accounting software! *
