IMPLEMENTING THE RIGHT INFORMATION BUSINESS SYSTEM In today’s global economy you need to integrate multiple remote resources, fast and accurately. The challenges to successfully choosing, installing, and implementing a business system are many. Plus, there are significant time and resource issues, including the cost to change and the time needed to learn the new system. But so are the opportunities to gain greater control of your organization’s financial affairs, to make better decisions, to improve cash flow, and gain client satisfaction, among others. Selecting the right business information software for your organization is one of the most critical business decisions. You want software that is simple, intuitive, flexible and closely matched to how you do business. The system must provide you with integrated, in-time, essential information you need to make the best decision possible to do the right thing at the right time. Be sure the system can: - Customize easily to fit the special needs of your business. - Scale to the changing size of your business. - Capability to upgrade and accept other system applications Properly installed and implemented business information software can contribute many benefits to your organization, including:
Better decision-making capabilities Can provide both a snapshot-in-time look at your organization, as well as the detailed
reports and other
data customized at different levels of the organization.
Improved cash flow Cash
management is essential for all businesses. Integrated billing, inventory, accounts receivable, accounts payable and cash deposits allow you to manage that valuable cash more easily and efficiently. Better cash management provides your organization with more options for revenue-generating actions, reduced financial risk and long-term growth.
More accurate information With fully integrated information, you will not only have more information at your fingertips, you will have more accurate information. Unlike a manual accounting and reports system, where a great deal of time is spent cross-checking figures recorded in different ledgers (and where the potential for errors dramatically increases) in a good computerized system, information is entered only once and is used throughout the system.
More control Integrated information provides real-time access to your organization’s critical information from and to multiple remote locations such as stores, travel agents, regional distribution centers, overseas production facilities, suppliers. This provides you with greater control and the ability to more efficiently manage the components of your business. Intelligence gathering The right system allows you to identify customer profiles and behavior; competitors actions; economic, legal, social and political factors and create data bases.
A foundation for growth The right software can help you as your organization grows: expanding as your business expands, allowing for additional users, integrating new technology and offering the kinds of reports and other business intelligence data required.
Involve the right people Your accounting software generates information used throughout most of your organization. Participation across functional groups will help you select, implement, and use the best possible solution. There are, in general, five groups of people who should be involved in the selection process:
System Users System Managers System Customers System Sign Offs Information System Staff Define the objective This includes a review of your current system’s capabilities, strengths, and weaknesses, as well as the initial list of what you want to do with your new system but were unable to do with your old system. Questions you might consider include: • Which manual tasks would benefit the organization by becomingautomated? • Where are you experiencing the highest productivity loss and the highest number of errors? • How are inaccuracies negatively impacting your organization? • What information/reports are being requested that currently cannot be created or delivered? • How could your accounting solution integrate with other business management solutions ? Make a list of the challenges you are currently experiencing. Then create a second list of what you would like to do but are unable to do now. This information should become your core list of requirements when evaluating new software.
What should I automate to grow? Most organizations automate the following business actions: 1. Word Processing and Spreadsheets 2. General Ledger 3. Billing / Accounts Receivable 4. Accounts Payable 5. Inventory 6. Sales Order 7. Purchase Order 8. Payroll / Human Resources 9. Job Cost / Manufacturing 10. Shipping and delivery 11. Buyer generating intelligence 12. Custom Management Reports: Information for management decision-making, cash flow planning/forecasting .
What data do I need to make strategic decisions? Information is critical to sound decision-making. The more in-depth information you can obtain now, will help you in the long run.
What do I need to forecast and control ? How flexible can we be? What types of resources (internal and external) do I need for a successful implementation? It includes but is not limited to money, human resources, hardware & equipment, know-how, space.
Obtain expert assistance It is possible that your organization has the internal staff to successfully implement your new business information system. It is more likely, however, that you do not have the people, time resources, or expertise to devote to analyzing, purchasing, installing, and maintaining a system.
Evaluate solutions An upgrade path Speed of installation Ease of use What is included? Frequent updates A good technical support team Pricing Capacity
Reporting capabilities Ease of input Data validation Error handling
Security
Database intelligence
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