Summary: Have you outgrown your existing accounting software? Before you make the switch to a new, more sophisticated accounting software system, be sure to follow these five important steps.

Simplify and Accelerate the Change to New Accounting Software

For many businesses, the time eventually comes when expansion and growth far outpace the features and capabilities of their current accounting software.

When support for a broader user base and more complex financial transactions becomes critical, these organizations must replace their existing accounting software applications with more sophisticated and robust solutions. 

By following these five tips, you can simplify and accelerate the process of changing accounting software.  

Are you Really Ready to Switch?
What is prompting your organization to make the move to another accounting software package? Are the limitations of your current system forcing your users to use manual tasks and activities, or turn to other tools in order to process and track vital financial transactions? Or, do you simply feel that there are other, more advanced accounting software features that would be nice to have? 

Remember that changing to a new accounting software system is a huge undertaking for any business, and requires a tremendous amount of time and money. So, be sure it is really necessary, and that your organization is truly ready, before you make the switch.   

What do you Need?
You already know that your existing accounting software is no longer satisfying your requirements, and that you need something more. But, before you begin looking for a replacement, you need to outline exactly what’s missing, and what the “ideal” accounting software tool will provide. Work with all affected users – not just those in the finance department, but in other divisions and business units as well – to put together a list of the features and capabilities you need. 

Choose Your Vendor Wisely
Smaller organizations typically use price as their primary decision criteria when choosing an accounting software system. But, now that you’ve seen how quickly you can outgrow your accounting software, you probably realize that functionality and scalability may be far more important than affordability. An accounting software solution that can not only satisfy all of your current requirements, but provide plenty of room for future growth in terms of both user capacity and feature sophistication, is the best way to go.   

Prepare your Users for the Transition
A move to a new accounting software application is likely to cause some disruptions in core operations. 

The more you prepare in advance, the easier the transition will be. Avoid making a switch during critical or particularly busy periods, such as quarterly or year-end closings, and train all end users before you deploy your new accounting software. This will minimize the impact on your business activities.   

Get Customers and Partners Ready
Many businesses seek to improve collaboration and communication by sharing financial information with customers, vendors, and other business partners.

If you plan to make your new accounting software accessible to outside constituents (for example, to allow vendors to update the status of open purchase orders, or to allow clients to check invoices or pay bills), then be sure to bring them on board before you roll out the application – perhaps even as early as during the evaluation process. Their feedback may be quite valuable, and help you make the best possible selection.