Bridging the gap with financial software projects

Waylett: Proactive system deployment requires a pro-active approach to the stakeholders

The integration of financial software with other systems, automation, proactive report generation and alerts can transform a business.

However, the result of deployment is often a system that is only a bit quicker than the last one. There may be no changes to working practices, automation, or return on investment (RoI).

Some think there is a gulf developing between the financial director (FD) who chooses the system and the accountants who oversee the actual implementation ­ particularly in larger organisations. The FD may have the vision, but the accountants are often left in the dark.

The accountants will understandably focus on operational deliverables, improvements to existing processes and working practices, rather than a strategic shift towards business improvement.

They may also be shielded from parts of the IT system not associated with their job, and only trained on specific bits of the system. The result may be better security but accountants may only consider ‘their’ individual parts of the system.

The bigger picture and strategic goals cannot be achieved this way. And without a clear understanding of what new financial software can achieve, it is easy to simply replicate existing processes.

It can be argued that this contributes to the ridiculously long hours worked by accountants at month and quarter-end. How much time do accountants spend rekeying and reconciling data? The use of automation reduces manual tasks and helps them focus on business led-issues.

Tight integration between systems can remove the need for data rekeying, while alerts and proactive reporting mean that accountants only need to focus on highlighted mistakes when they arise.

Yet the benefits are not being achieved because customers do not even know the technology is there.

Today’s approach to technology deployments is like buying a Ferrari and telling the driver it has only one gear. How can users exploit the power of a technology if they do not even know it exists?

Why spend £50,000 on advanced software if the business does not use it? In many cases, UK organisations could spend a tenth of that and replicate manual processes just as effectively.

In a worst-case scenario, the system may be replaced for not meeting objectives, and yet the technology is not to blame. The company does not know how to use the technology to achieve the benefits. Those that have to use the technology have not been involved in discussions about strategic imperatives and objectives.

Furthermore, the current approach undermines accountant career paths. Not only is their business perspective restricted, but so is their development of broader IT skills.
While those in senior posts might learn about technology’s potential, those lower down the food chain are getting stuck.

Accountants with a good technical understanding can add plenty of value to an implementation if a new software system’s full capabilities and strategic imperative are shared.

In addition, the adoption of proactive systems that replace manual processes with alerts, for example, means that accountants do not also have to function as data-entry operators.

Strategic expectations cannot be achieved if they are not communicated to those who implement the underlying tools. Resellers can help to bridge the gap.

Gary Waylett is chief executive officer at Eclipse Computing