Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals

5 Steps to Selecting the Right

Financial Management

Software Solution

• Understand the tangible, hard dollar, savings that can be

realized with a replacement solution

• Learn how to avoid common mistakes made in the

selection of financial and accounting software

• Understand how to conduct a thorough financial

management and accounting evaluation and make the

right decision for your company

Learning Objectives

After attending this event you will be able to:

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webinar.

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Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals

5 Steps to Selecting the Right Financial

Management Software SolutionTodd Perlman, President, BT Partners

Michael Silver, CPA, Channel Executive, Intacct

Today’s Agenda

• Ready to replace your financial

applications?

• Vendor selection best practices

1. Getting started

2. Define your requirements

3. Understand your options

4. Evaluation process

5. Calculating ROI and economic

return

• Summary and resources

Typical Reasons to Change

Struggling with reporting and can’t analyze operating data

Inefficient manual processes are draining productivity

Dependence on unwieldy spreadsheets to run our business

We have multiple locations or currencies

We need real-time access to financial data

Require financial consolidations across several business units

Inefficiency in the Accounting Function

Often Hinders Focus on Business Leadership

Source: Armanino McKenna, “The CFO EvolutionTM Benchmark Survey Results,” Dec 2010

Top Bottlenecks in Monthly Close ProcessTop Issues for CFO Organizations

Just Get Started

You may decide to stay with your current solution,

but you’ll still learn a lot from evaluating all your options:

1

Assemble a Project Team

Involve End Users

Set Clear Goals

Get Executive Buy In

Create a Project Schedule

Define Your Requirements

• Document the issues with your current system

• Prepare a top-down strategy

– What do you want to achieve with your new system?

– What type of information does management need to make better

business decisions?

– What is the business impact of that?

– Which processes do you want to automate?

• Tap in to outside experts and your peers

• Document expected improvements and ROI/TCO

• Use a 3rd party expert to help

2

4 Key Areas Every CFO Thinks About

Boost productivity of financial processes

– Where do you spend your time now?

– What is being done in Excel?

Supply insight for better and faster decisions

– How old is the information from which you are making decisions?

– What is the bottleneck in getting the data?

Focus resources on your core business

– What other financial or related systems are critical to your business?

– Where can you eliminate duplicate entry, entry errors etc?

Deliver scale for growth

– What are your business needs 3-4 years from now?

– Do you have a business systems map to meet those needs?

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Thank you for your interest in this presentation.

View the on-demand webinar or download the full

presentation at:

www.Proformative.com

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