Avoid These Accounting Platform Implementation Mistakes
March 15, 2020 / Haroon Juma / Accounting Blogs
Implementing an accounting platform is the most effective way to simplify your accounting efforts considerably. A well designed and functional tool allows you to streamline your processes, moving from a manual system to one that enables you to configure and migrate data and reporting in one system. Cloud systems are also the future and you should consider this as your first choice for many reasons shared in our Cloud Vs On Premise blog. Centralised dashboards allow for greater collaboration between teams, while added security and controls ensure total peace of mind.
There a few things to keep in mind when making the transition to a new system. Keep reading to find out what mistakes to avoid when implementing your accounting platform.
Mistakes to Avoid When Implementing Your Accounting Platform
Some of the biggest mistakes to avoid during your accounting platform implementation include the following:
Failing to do an assessment.
Implementing your platform without a complete business and management reporting requirement assessments will limit your business. In order to ensure a successful implementation, you will first need to know exactly what your business needs from the platform. This will ensure that your specific requirements are aligned, which will give you the full benefit of the platform.
Failing to evaluate the product.
There are many product options available, once your business requirements are understood you should assess options that will serve you for the long term. Test and evaluate the software thoroughly for features, ease of use and how it can grow with your business. Making short term decisions on a product lead to many issues when you outgrow its capabilities. These can include costly data migrations, new project costs and training your business to operate the system.
Failing to use product functionality
Many platforms have features that can simplify the accounting processes and reduce errors. These require a good understanding and experience of implementing the product which may you to bring in external expertise to support your implementation. Ensure your partner is qualified and experienced in advising and implementing the product to its full potential. Some tips are discussed in our Implementing Accounting Software whitepaper.
Failing to have a launch plan.
You will also need a comprehensive launch plan in place. Launching without careful planning will make it far harder to implement any new system. Regardless of the size of your company, you will need a best practice framework as well as documentation that will reduce potential issues during the implementation.
Failing to involve your teams.
Finally, it is also essential that your teams are involved during each step of the way. Trying to migrate to a brand new accounting system without any type of training or preparation can be disastrous. This will increase frustration and make it far harder to see any benefits from the platform. Make sure that your teams are fully prepared before your launch.
At Simply Solved, we aim to make the transition to a new system as simple as possible. We provide a comprehensive solution aimed at helping you make the move to a cloud-based system. Contact us today to learn more about implementing an accounting platform in the UAE.
Partner With SimplySolved
Serving over 200+ clients we know the challenges your business faces operating cost effective, compliant and efficient back office operations in Finance, Tax, Human Resources Management, IT and Marketing.
As an FTA Accredited Tax Agency with ISO 9001 Quality & 27001 Information Management Certification, we offer a quality-based approach to our services supported by dedicated team of certified professionals.
We support our clients with defined processes, platforms and expertise to deliver advisory, project and outsourced services in Accounting, Tax, Auditing, HRM, IT & Marketing. Our offerings are specially designed to meet the UAE Regulations to put you in control of your information, comply to the regulations and help you make better business decisions.