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Navigating Accounting System Change: Essential Tips for Success

27th Feb 2024
Brought to you by
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Award-winning cloud accounting software for multi-company businesses.

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Deciding to transition your accounting system is a monumental move for any organization, requiring meticulous planning and execution to ensure a flawless shift. In this concise guide, you’ll gain access to essential insights to confidently navigate this journey and lay the groundwork for a successful business transition.  

What can Finance Leaders expect when changing their accounting system? 

Running a modern finance function involves much more than ensuring smooth month-end processes. CFOs are increasingly fulfilling a crucial strategic role across the business. To do that, you need reliable, timely data to support the key decision makers that move your business forward and you can’t scale your business sustainably without a properly implemented and integrated finance system.  

Here at AccountsIQ, our onboarding team has extensive experience migrating customers from legacy on-premise systems to our Cloud accounting platform. Here’s why we have put together this list of key points to consider when switching accounting systems to ensure a successful transition. 

1. Thoroughly Assess Your Current System

Conduct a comprehensive evaluation of your existing accounting system, pinpointing its strengths, weaknesses, and areas in need of enhancement. Consider factors such as functionality, user experience, and scalability to lay a solid groundwork for your decision-making process when contemplating new accounting system options. 

2. Define Clear Objectives

Articulate specific objectives and goals for the transition phase, whether it's enhancing financial reporting accuracy, improving data visibility, or streamlining operational processes. Precisely outlining these desired outcomes will serve as guiding lights in selecting a new accounting system and evaluating its success. 

3. Conduct In-Depth Research

Invest ample time in researching and evaluating potential accounting systems that align closely with your defined objectives and organizational requirements. Scrutinize features, integration capabilities, vendor reputation, and cost to ensure an informed decision-making process. When selecting a software partner, prioritize those who offer dedicated support throughout the implementation process and beyond. A reliable partner will ensure a smooth transition, providing guidance, troubleshooting, and ongoing assistance to optimize system performance and address any challenges that may arise. 

4. Choose a system that will support your growing business 

Opt for a system that not only meets your current needs but also has the flexibility to scale alongside your business as it grows. This adaptability ensures that your investment in a new accounting system remains viable in the long term, accommodating evolving requirements and expanding operations without hindrance. 

5. Engage Key Stakeholders from the Outset 

Involve stakeholders across different levels of the organization - including finance team members, IT professionals, department heads, and senior management - right from the start. Solicit their input, address concerns, and garner their support to pave the way for a smooth transition and successful adoption of the new system. 

6. Craft a detailed implementation plan

Develop a comprehensive implementation plan delineating specific steps, timelines, responsibilities, and resource allocations essential for the transition. Incorporate provisions for data migration, system configuration, user training, testing, and contingency planning to mitigate risks and minimize disruptions. 

7. Prioritize Training and Ongoing Support

Trying to use a new finance system without proper training and support is frustrating and stressful for your team. Different users will need different levels of training, so talk to your software provider about their training methods and resources.  

Some lite users may simply need to train on how to perform a specific task. Others will need a more in-depth training program that’s specific to their role. Everyone will benefit from training that is engaging, flexible and easy to access, so check if your software partner offers: 

  • An online, on-demand training programme                                                                                                             
  • Training videos                                                                                                                                                             
  • Training documentation, such as in-depth articles                                                                                                       
  • Webinars 

Summary

Successfully navigating the complexities of accounting system change demands more than just a checklist approach; it requires a strategic and collaborative mindset. While Finance leaders indeed play a crucial role in guiding their organizations through this journey, it's important to recognize that change affects everyone within the organization. Hence, effective communication fosters alignment, engagement, and ownership among employees, ensuring greater commitment to the success of the new software implementation. It’s crucial to partner with a software vendor that can offer expert assistance and can help you implement a well-planned software solution that delivers the results you are looking for.

About AccountsIQ and further resources  

"The best thing about AccountsIQ is the successful and collaborative relationship we have with the support team. We have completed a number of projects with them and they never seem to tire of listening to us and working with us to adapt the software for our own and for every other user’s benefit.  It almost feels like we are all part of the same development team.” 

Emma Whelan, Financial Controller, Asavie. 

Free Webinar: Implementing a New Finance System 

Watch our Implementing a New Finance System webinar recording where we share our advice on making your transition to a new finance system. 

Discover what's different about AccountsIQ cloud financial management software and our Implementation and Support.

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