By Sandy LeDuc
LeDuc and Sikowitz
Does your accounting system provide the timely, comprehensive information your managers need to make decisions? If the answer to this questions is “no” it may be time to assess the existing accounting and information systems. Current, accurate information is one of the must-have tools for managers in today’s competitive business environment.
Consider your needs
Take time to work through the strengths and weaknesses of your systems. What
information do you wish you had that just never seems to emerge from any of the
reports? Is information stale by the time you get it? Are you overburdened with
detail when exception or summary reporting is what you really need?
Assess your current system
If your existing accounting system was installed within the last few years,
revisit your original goals and determine whether they’ve been met. If they
haven’t been, ascertain whether the system is fully implemented and utilized.
If it is fully implemented, verify that you’re using the most recent version. If there are no upgrades to solve your problems, it’s possible that utilizing other systems that will integrate with the current systems may work for you. It is also possible that the reporting function is not understood and requires training.
You’ve outgrown the current system
If you know you’ve outgrown the current system and you’ve been putting
off the selection and installation of a new system, it’s time to roll up your
collective sleeves and get to work. The competition has never been as informed
and connected as it is today.
Use your earlier determination of critical information to write your specifications. Imagine the accounting system sharing information with other systems such as production, project management or a contact management system. Be expansive in defining your expectations.
Your accounting professionals should be able to identify commonly used packages in your price range as well as customizations of those packages for your industry or your specific needs.
Don’t overlook e-solutions in the form of Internet application service providers renting access to software packages that you might consider outside your price range. They could offer other advantages as well
Be certain that your team is accountable for meeting the goals. Regular review following completion will also be necessary to keep accounting advised of changing needs and expectations.
Summer 2000 - Volume 10, Number 3