April 23, 2020
Our knowledgeable Sage Intacct Consultant, Tim Venables, gives an insight into the important elements that need to be considered when researching your next business management system, and the importance of choosing to work with a strong and insightful implementation partner.
What are your Business requirements?
Before you are able to find the right BMS it’s important to map the landscape of your current software, taking note of the flow of information between systems and departments. In terms of Finance and Accounting (F&A), you should focus on processes such as Procure to Pay (P2P), Order to Cash (O2C) and Record to Report (R2R). With your current business management system there may be manual process such as data input between systems which causes inefficiencies.
The engagement of all stakeholders is key. It’s important to ensure that everyone is on board and understands the importance of a new system, and the capabilities it will bring to your business. It is essential that everyone from board level to the employees using the new system are involved in the process so they can help identify key areas of importance.
Understanding your current system(s) is important and visualising how your incumbent solutions will integrate will be a huge benefit. An open API as an integration would be much easier and more flexible, however this will be dependent on your circumstances.
You need to establish support from your senior leadership team. Help them to realise the potential savings, gains, and return on investment achieved through the efficiencies of a new system i.e greater reporting capabilities for the C-Suite. Without the support from the board the project will not gain the traction required.
Budget and resources
It is important that you understand the tiers of Enterprise Resource Planning (ERP), Business Management Systems (BMS) and Financial Management Systems (FMS) as they are based on an order of complexity and cost.
At Solutions for Accounting and CRM, we will help guide you through your procurement process and will propose the best solution for your business processes. We are a company with integrity and ensure we do the right thing for our clients. We have grown a fantastic portfolio of leading systems ensuring we have a solution for all SMEs, helping to automate and streamline their processes. We also have a great relationship with our vendor partners, working collaboratively to ensure our clients receive the greatest service possible.
‘Future proofing’ your business is more important now than ever before. Technology and scalability are fundamental to any organisation that is focused on growth. It’s imperative that your system consultant dedicates time to understanding your business, your strategic approach and your future goals, ensuring the proposed system can not only meet, but surpass your expectations.
Return on Investment
We will work with you to understand your existing processes and how your new system can help to automate and reduce the manual elements of your daily tasks. In the click of a button you can report on aspects of the business that would have previously taken hours. Automation reduced many human errors giving you back time that could be spent elsewhere on more productive and profitable tasks!
At Solutions we will provide you with visibility into the value of any proposed solution, so you are provided with an indication of the indicative investment at an early stage of the process. We will work with you to develop and calculate your return on investment to ensure migration is worthwhile.
The most important take away from this article is to identify a forthcoming and trustworthy implementation partner who can help you identify the right solution and guide you through the process. Your chosen provider can provide suggestions, identify pitfalls, and offer advice.
Please contact our experts for more information by emailing email@example.com
Written By Tim Venables
Sage Intacct Consultant
Share this post
News Contact Form