For finance and accounting professionals in midmarket companies, implementing an enterprise resource planning (ERP) system can feel like embarking on a major transformation. The potential for improved efficiency, streamlined operations, and data-driven decision making is significant, but the process can be complex and demanding. For smooth sailing, it’s crucial to identify and execute leading success factors for ERP implementation. Review these six elements when you’re ready to chart your course to a data-driven future.
Setting Clear Objectives & Scope: A Road Map to Success
The first step is establishing a clear understanding of your goals and scope. This serves as the road map guiding your ERP journey. What are your overarching objectives in implementing the system? Is it streamlining operations, gaining tighter financial control, enhancing workforce management, or fostering better integration with other systems? Clearly defining your objectives can help align your business teams and get everyone on board.
Remember, the scope of your implementation should be inclusive yet adaptable. It should accommodate the inevitable changes and needs that arise without derailing your progress. Be cautious of “scope creep,” where project requirements balloon or shift midstream. While some flexibility is necessary, uncontrolled scope creep can significantly impact your project timeline and budget. Establish a rigorous change control process that mandates approval for any modifications to the project scope.
Executive Leadership: The Driving Force
Executive sponsorship isn’t merely an added benefit; it’s a critical success factor for ERP implementation. Having a dedicated leader who understands the strategic significance of the ERP system and actively champions its adoption across the organization is essential. This person can serve as the driving force, motivating and securing buy-in from all levels across your organization. Remember, an ERP implementation is a team effort, not a solo project.
Steering the Course With Effective Project Management
A skilled project manager is like the captain of your ERP implementation ship. The project manager is responsible for coordinating diverse teams, managing resources, and vigilantly monitoring progress against the project timeline and budget. Just like a seasoned leader anticipates and mitigates risks, the project manager should possess a keen eye for detail and be able to proactively address any potential challenges.
Additional Factors to Consider
Change Management: Implementing a new ERP system can, and should, disrupt existing workflows. To help ease the transition, prioritize change management strategies that effectively communicate the benefits of the new system, address employee concerns, and provide adequate training.
Data Quality: The quality of your data is the foundation of your ERP system. Cleaning and standardizing your data upfront can help mitigate downstream issues and help the system run efficiently, so you can generate accurate, reliable insights.
User Adoption: Encouraging user adoption is imperative. Set attainable, measurable goals for your ERP users. Check in regularly with them. Schedule short meetings biweekly or monthly to discuss the ERP system. Address any issues or concerns and provide tips on how to use the system more efficiently. Another tactic to get users more involved is to have one person provide a tip each week. Ongoing support is essential for driving user engagement and making sure the system is fully utilized.
By understanding and harnessing these key success factors for ERP implementation, finance and accounting professionals in midmarket companies can help steer the ERP journey with confidence, charting a course toward a more efficient and data-driven future.
How FORVIS Can Help
Business Technology Solutions at FORVIS can assist you with your ERP implementation. From system deployment and project management to post-go-live support and user training, our technology consultants can help you adapt to new updates, tackle emerging challenges, and leverage the ERP system for continuous improvement and growth. FORVIS has ERP technology provider partnerships with Microsoft Dynamics, NetSuite, and Sage.
Throughout your digital transformation journey, we listen to understand and consult with purpose. When you’re ready to embark on ERP implementation, we’ll be ready to assist. Connect with us to learn more or request a personalized demo.