Time to replace your finance or ERP system? Here are 5 good tips

Your company's current system no longer meets the requirements for efficiency and streamlined processes. It is time to consider whether you should replace your current finance or ERP system. This does not need to be the heavy and complicated process dreaded by many.

Here, we offer 5 concrete pieces of advice that will help you get through the replacement of your current system in one piece, while giving your employees and suppliers the best working conditions at the same time.

1. Choose a finance or ERP system that delivers what you need

When it comes to finance or ERP systems, the amount of different systems and options is a jungle, and an equally large number of sellers will want to sell you their particular product. Be honest, realistic and specific about what your business actually needs. Take into account the company's size, business area and internal processes. Think about which functionalities are important to you and which integrations and systems must be able to talk to each other. Make a "must have" list and a wish list, and stick to your priorities as best possible.

Many of today's systems are so flexible that they can be adapted to any business, so don't be afraid to make adjustments.

Remember that most systems are developed over time, based on experience from many companies. Even if a solution is unfamiliar to your business and requires a change, it may still be the most profitable and reasonable in the long run.

2. Those who run fast stumble

Good preparation in the project phase is the key to success. In collaboration with the project manager for the transition, a good and realistic plan must be drawn up. How long will the different phases take and what should be prioritised? What challenges will your company face and how long will it take to solve them? Which key people should be involved and at what point? When are extra efforts required for employees in the company in connection with mapping, testing and preparing a new system? How much training does the individual need, and does the physical working environment need to be changed to adapt to the new system?

3. Clean up, clean up, clean up

Changing the finance or ERP system is a golden opportunity to get rid of old skeletons and a guilty conscience. Review balances and ensure everything is recorded and that bank accounts have been checked and reconciled. You get the best possible start in a new system by not having old and unfinished cases lying around.

4. Training

When the systems have been fully tested and the date of launch approaches, it is important to prepare employees for the changes.

In order for the transition to a new solution to be experienced as hassle-free by employees, it is important that they receive appropriate training.

Many companies send their employees on necessary courses before the actual introduction ​of a new solution. However, it is equally important to preserve and maintain the level of knowledge gained after implementation. The challenges and questions arise after the implementation. Therefore, it might be a good idea to have a resource available that can assist employees during the first weeks. It is also advisable that this resource is available to suppliers, customers and partners, so that they are not adversely affected by the changes in your business.

5. Welcome the changes

Although the project phase is well planned and the process thoroughly carried out, it is during the actual transition to the new system that the real changes are felt. A new finance or ERP system will force new processes, routines will be changed and the functionality of the new system will be different from the old one. This can be experienced as challenging for many employees. They are forced to work in a different way and think in new ways. Many will have the feeling of not succeeding at the start, and for a period of time, tasks will not be carried out as efficiently as before. Such a transition phase is completely normal, but difficult. Prepare for the hardship phase and get external help that can assist in making the transition to the new system as easy as possible.