In order to remain competitive and to ensure that you have the proper tools to run your business, systems need to be reviewed on a regular basis to asses if they still meet the needs of your organization or if they are outdated. If many of your day to day tasks and reports are done manually or require much manipulation, it is probably time to consider either upgrading your system to a more recent version or even changing the system entirely.
The tools that you have in place will determine the effectiveness of providing accurate information in a timely fashion in the format that is relevant to your audience (banks, management, auditors, Board of Directors, etc.). For example, an improved system could result in closing your month end periods in a 5 day cycle rather than a 10 to 15 day cycle. The changes can be that dramatic.
Streamline will help to determine the following:
- Selecting a vendor if you chose to implement a system with a new provider
- Defining / designing the new system (white boarding the processes and procedures to determine the desired outcomes)
- Designing the customizations
- Implementing the solution (including the testing phase)
- Defining the reports (immediate requirements versus the “nice to haves”)
Streamline can help by acting as the liaison between the Accounting/Finance team and the IT/Development team. This allows your existing team to remain focused on running the day to day operations of the business and reduces or prevents the undue additional stress as a result of an additional project that can be extremely time-consuming.
Requirements to change systems often result from acquisitions of other entities or the merging of two or more entities that are not aligned. Streamline can facilitate these changes by making the transition as smooth and timely as possible.