Implementing an accounting system can transform your organisation’s accounting operations and finance functions. For one, an accounting system will help to streamline and automate processes, plus your finance department can save a lot of time on manual, mundane routines and readily access up-to-date financial information.
Also, a new accounting system can have robust features to meet the differing needs of your organisation. For example, an accounting system can integrate with other business management systems for a comprehensive view of various operational departments and provide a platform for collaboration within your organisation.
However, there are some common mistakes that could hinder the success of your implementation. Being aware of these mistakes ahead of time will help you to avert them during the implementation process.
1. Not investing in change management
Change management is a critical part of the implementation process. But some organisations often underestimate the change management required to implement a new accounting system.
The result? Unsatisfied users, or worse, resistance to the new system.
Before you make any changes to your business, from anything from accounting software to your existing processes, you need to talk with employees about what’s changing and why it’s changing.
By doing this, employees will be more accepting of the changes to come and will be more open to embracing new processes.
2. Giving zero or little attention to defining requirements
Requirements include all of the details about what you want the software to do for your organisation, including types of reports and data that need to be included or excluded.
One reason companies can run into problems when implementing an accounting system is that they don’t spend enough time defining requirements.
Defining requirements ahead of time results in less wasted time during the implementation process. Plus, it’s also more likely you’ll be satisfied with the end result.
3. Failing to get buy-in from users and stakeholders
Employees aren’t always going to embrace change willingly, so get buy-in from employees by explaining how the change will benefit them.
In addition to getting buy-in from those who will be using the system, make sure to invest in buy-in from key stakeholders, executives and managers as well. These are the people who approve budgets and decide if a software investment is worthwhile.
Getting their buy-in will help the implementation process move along much more smoothly.
4. Miscalculating the duration of the implementation
Your company needs to take into account all aspects of implementing a new accounting system when determining how long it will take to complete the implementation.
For example, new software needs to be installed on your servers, old data needs to be migrated into the new system and then tested for errors, users need to be trained on the new system, and so on.
Adding up all of these tasks means it can take time for an implementation to be completed.
You should work with a vendor from the beginning when estimating how long it will take your company to implement a new accounting system. Doing so ensures you’ll have realistic expectations about how long implementation will take and that there won’t be any surprises.
5. Spending insufficient time on testing and training
Testing the system and training users are essential parts of an effective implementation process.
Testing ensures your new system won’t have any errors. The last thing you want is for the new system to malfunction and cause problems within your organisation.
Training users ensures they understand how to use your new system. These sessions can be conducted by the vendor providing the software.
In all, conducting thorough testing and training ensures that the new system is working as intended and that employees are comfortable with the changes.
Work with an Experienced Implementation Partner
By avoiding these five mistakes when implementing a new accounting system, you should have a much smoother process and be satisfied with your results.
One of the most effective ways to implement your new accounting system is by working with a professional implementation partner. An experienced implementation partner can provide assistance in all five areas of potential pitfalls, including training and consulting services.
Working with an experienced implementation partner ensures that you’ll have access to people who are knowledgeable about current best practices for implementing new accounting systems.
Get in touch with us today as your implementation consultant and partner to start improving your company’s bottom line.