7 steps to implementing new finance software 

Step 1:  Building an impact case for new finance software 

As a successful organisation, you want to make sure that every investment you make will have a tangible positive impact on your end goal. Not only that – you need to be able to prove to your team that what you are suggesting is a good idea, and will make their own individual objectives easier. 

A strong business case is the why, what, how and who of your project – in this instance, the need to move your financial management from disparate and primitive systems to a modern solution. 

Step 5:  Define your change management process

According to research from consulting firm Gartner, approximately 50 percent of all organisational change initiatives are unsuccessful. This suggests that defining and then planning your change management process in detail is a crucial step to mission success. 

When embarking on any type of implementation, it is important to consider the impacts, who needs to know about what and when, and who will be responsible for communicating. 

Your team members will look to senior management to offer reassurance and guidance that the change will be beneficial to them.

Once these lines of communication are established, they should be included in the Project Plan, so that they can become a task that can be monitored. It is very easy to get lost in the day-to-day delivery while neglecting communication, but it is effective communication that will decide whether your change management process is successful or not. 

To understand the complexity of change management in more detail, please refer to the diagram below. The Change Curve shows that how people feel about change does not remain static, and that effective communication is key in keeping people positive and accepting of the new solution.

Change curve 

How people feel about change and implementing a new system, does not stay static. People’s emotions will change over time and if they are effectively communicated to, then they will become positive and accept change. 

As well as setting a communication strategy, it is good practice to establish the roles and responsibilities of important stakeholders in advance. For example: 

Project Manager – will spearhead the day-to-day progression of the software implementation. Ideally, will have the authority to make decisions as and when needed, and will have the confidence of the leadership team to respond to challenges as they arise. 

Leadership Sponsor – will act as an escalation point throughout the project. Regularly touching base with the Project Manager and other stakeholders in the background, they will ensure the work is proceeding smoothly and with minimal disruptions from a top-level perspective. 

Testers – some people testing the system may have never been involved in anything like this before. Making sure they know when they will be needed and what is expected of them is key to ensuring a smooth user acceptance testing (UAT) process. 

Finance Team – will have a key role in the adoption and success of the system. They must be aware of how your business processes relate to the system and what they will be required to do in the system. 

Business Users – Heads of Department, budget owners, PO raisers and approvers and senior management will all have requirements for the system. 

 With processes identified and key stakeholders involved, it is time to look at what you can expect from the implementation.