Guide To A Successful System Implementation
What is A System Implementation?
A new system implementation is a step that businesses can take to ensure that their system supports the growth and well-being of their company. It is common for businesses to outgrow QuickBooks, for example, as they expand.
Unlike other emergencies that businesses face, a system implementation is usually a proactive measure to prevent problems down the road. If a business is growing, or if their system does not meet their needs, they can implement a better system to gradually improve their business. It is worth it to invest significant time and resources on the appropriate accounting system and how to properly use it. An outsourced accounting firm can do this work for you and knows which system will be the best fit depending on the company’s goal and size.
Who Needs This Service?
Any company who has grown beyond their means in their current accounting system, such as QuickBooks. This is almost always bound to happen, and it is not a bad thing. A business who needs to streamline processes and run their business and financials more efficiently is a good fit for system implementation, or if you simply do not have the staff to manage your books for you.
What Kind of Systems Do We Implement–ERP stands for Enterprise Resource Planning. Examples include Sage products, SYSPRO, Microsoft Dynamics, and NetSuite, among others.
What does an ERP Do?
Unlike QuickBooks, which is strictly an accounting software, and ERP plans and manages all of the core supply chain, manufacturing, services, finances, and other processes of an organization.
Why Is This Necessary?
The more a company grows, the more difficult it is to keep track of internal processes. An ERP can automate and simplify activities across a business, like accounting, project management, customer relationship management, etc.
How long does it take and what is the cost?
A full system implementation can take three to six months depending on the size of the client’s company. It can cost upwards of $50,000—but most likely well into the 6-figure range.
How many consultants does system implantation take?
Usually, a system implementation is a multi-consultant project. You can also expect that the consultants will work full-time.
Why does it take so long?
A system implementation requires that you transfer absolutely everything from the old system. If a company has 10,000 products in their inventory, they will need to input every product, number, description, etc. If the old system and new system do not talk well with each other, this would need to be done manually. No matter who does it, changing systems is an extremely tedious process.
What Can NOW CFO Do with a System Implementation?
- We can run the old system in parallel
If the system change requires both the old and new system to be run in parallel, this creates a huge time commitment for the accounting department to input everything into two systems. If the client wants its employees to learn the new system, NOW CFO consultants can be in charge of running the old system to save the client time.
- We can set up the new system
If the idea of running the new system is overwhelming to the client, NOW CFO consultants can do this for them. We can input all data from the old system into the new system. Then, when both systems do not need to be run in parallel anymore, we can train the staff to use the new system (once it’s already up and running).
The Steps to A System Implementation:
- Analyzing the business’ needs and find a system that will best support them.
- Transferring all data (accounting, inventory, etc.) from the old system to the new system
- Running both systems, new and old, in parallel
– If a client is currently running in QuickBooks online and wants to upgrade to NetSuite, you have to run both systems concurrently for a couple of months. It will guarantee that nothing slips through the cracks when switching systems.
NOW CFO does not sell software, and we don’t promote any one specific software. Our consultants are essentially “system agnostic”, meaning we can always work to find the best fit for the client. NOW CFO can work in conjunction with the client’s accounting department to get everything up and running.
Get Your Free Consultation
Gain Financial Visibility Into Your Business
We provide outsourced, fractional, and temporary CFO, Controller, and operational Accounting services that suit the needs of your business.
- Hourly Rates
- No Hidden Fees
- No Long Term Requirements
NOW CFO provides the highest level of expertise in finance and operational accounting to accelerate results and achieve strategic objectives for sustainable growth and success.
After completing the form, a NOW CFO Account Executive will reach out and learn more about your needs so that we can pair you with the right Partner.