The traditional systems implementation model is broken. 70% of ERP transformations, for instance, fail to stay on schedule or budget. 2 out of 3 generate negative ROI. Companies aiming to avoid the transformation pitfalls of the past and embark on a more effective, efficient, and positive journey must take a new perspective.
That’s where a dedicated implementation advisor comes in.
Proactively Avoid Transformation Challenges
Most companies vastly underestimate the level of effort required in the implementation of common finance and accounting (F&A) systems. What was planned to be a 12-month timeline quickly stretches into 18-24 months for a variety of reasons, such as:
- Underestimating historical M&A systems sprawl that created a web of legacy tools that must be sunset.
- Manual processes that need to be redesigned to capitalize on the shift into a new automated system.
- Lack of focus on compliance issues ranging from data access and privacy, internal controls, and more.
- Missing implementation KPIs that either never existed or haven’t been agreed upon at the start of the implementation, meaning it’s difficult to track ROI.
- System designs that replicate the current state and aren’t optimized for growth, especially rapid inorganic growth.
- Lack of business-IT alignment.
- Poor project management and lack of change management investment. Double-jobbing (stakeholders wearing multiple hats or treating the implementation as their side job on top of their normal responsibilities).
Ultimately, leaders intuitively grasp the demand for new systems but fall short in key parts of the implementation roadmap. They’re unsure where to start, how to execute and govern transformation effectively, and how to maximize ROI as quickly as possible. Fortunately, an implementation advisor steps in to relieve pressure on internal staff and the system implementer, fill skills and resource gaps, and lead the full implementation lifecycle methodically.
Benefit From Expert Implementation Support
Companies navigating a complicated F&A systems implementation must still juggle all their other competing transformation priorities. That means a slow rollout or ineffective deployment can impede various kinds of key objectives, such as:
- IPO-, ESG-, and audit-readiness journeys.
- Enterprise artificial intelligence (AI) adoption.
- New product, market, or service development, and more.
The optimal way to address all these concurrent projects is to ensure they’re approached efficiently. Keeping a systems implementation on track, then, is one of the best value-creation levers leaders can pull due to the ripple effects throughout the enterprise.
Working with a strategic implementation advisor can deliver key transformation advantages, such as:
- A holistic view of transformation that considers all elements of people, process, technology, and data.
- Human-centered design workshops and “best for you” methodologies that ensure the implementation meets all technical, financial, and cultural criteria
- Building the critical business case and gaining budget approvals from functional leaders and senior management
- Discussing and mapping out ROI estimates and how to actually realize material benefits.
- Overcoming inertia with a 100-day sprint plan to jump-start the implementation.
- Bridging the gap between the company and system implementer. Often, system implementers are industry-agnostic and don’t have the specialized functional or industry expertise to effectively navigate an F&A system implementation alone.
- Full-lifecycle support and advisory, including pre-implementation technology architecture design and strategy development, building a data Center of Excellence (CoE), and enabling process improvement.
- The ability to jump in at any stage of the lifecycle and make an immediate, lasting impact.
As an implementation is underway, internal teams will be stretched incredibly thin, meaning routine F&A activities may suffer. An implementation advisor can not only shepherd the implementation project to completion but also backfill Finance/Accounting with business-as-usual (BAU) support on critical tasks like monthly close, reporting, and more. This frees up core stakeholders and subject matter experts to be laser-focused on making the implementation a success.
Accelerate Your Next Implementation
Looking to transition over to a new system that better supports key finance and accounting activities and the demands of today’s Office of the CFO (OCFO)? CrossCountry Consulting’s expert transformation management and implementation support methodology enables Finance, IT, and third-party vendors to see through the fog of transformation and generate the best result – on time and on budget.
Contact CrossCountry Consulting for end-to-end implementation expertise in your next transformation journey.