21 trends driving the need for business transformation
Here are 21 trends that are driving the need for accounting firms to move beyond compliance and transactional services.
Before undertaking an ERP implementation, it's critical to understand what the needs (and pain points) of your business are, and how a proposed solution will help you address them.
Successfully integrating a new ERP plan is not an easy task. Many companies struggle to strike a balance between real-time and batch integration and between external and internal ERP systems. Enterprise resource planning is a complex challenge, with many points to be considered before launching a new strategy.
According to Panorama Consulting's independent ERP research over the past five years, the average cost of ERP implementation is approximately $6.1 million with an average duration of 15.7 months. Traditionally, ERP implementation fails because managers fail to consider :
Eric Kimberling of Panorama Consulting is an independent ERP systems expert with over 20 years' experience advising clients around the world. He feels that ERP solutions have become easier to implement over the years.
"You don't want to treat ERP as a small project. You want to make sure you have a dedicated focus on the people who are addressing organizational change management aspects," he says. "People always think end-user training when they think of organizational change, but there's so much more that needs to happen before end-user training in order for it to be successful."
As with most business pursuits, your success depends on the use of a systematic approach.
Make sure the entire ERP system implementation has been divided into steps, and each stage has a specific timeline for completion. To guarantee seamless application, assign a team member to ensure deadlines are being met.
The implementation process should be supported by documentation in order to minimize the chance of encountering delays. Such pre-worked documentation shared by the ERP provider ensures that, as a business, you can hit the ground running and hone in on new opportunities.
Here are 21 trends that are driving the need for accounting firms to move beyond compliance and transactional services.
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