When considering moving to new finance software, the number of options can be mind-boggling.
After some initial research, businesses sometimes put moving software on the backburner. Why? Well, it's not for lack of want or need, or the cost. It's often due to the overwhelming number of solutions on offer. Financial leaders are busy people! Finding time to evaluate software seems impossible, and the thought of making the wrong choice becomes overwhelming.
However, by taking the right approach and setting realistic expectations from the outset, financial software migration is far from mind-boggling.
You first step is creating a business case. Our recent blog, Building a business case for the implementation of new finance software, covered the basics of creating an impactful business case. Once that is in place and you have gained buy in from your colleagues, you can begin to shortlist products.
The number of financial software applications on the market today is vast. Depending on the size of your business and complexity of your requirements, it is advisable to create a longlist of 6-8 products, narrowed down to a shortlist of 3.
6-step guide to software selection
At CPiO, we have a concise 6-step plan for evaluating software. The steps, in brief are:
- Clarify motivation and opportunities
- Refine objectives
- Set the budget and consider total cost of ownership (TCO)
- Understand your requirements
- Assess software solutions
- Re-evaluate and improve data management
Download the complete six step plan
For greater detail and help evaluating software, our 6 step plan is available in full in our eBook; 7 Steps to Implementing a New Finance System, available to read here.
Each easy to follow step adds focus to your decision-making process and will help you make the right choice when you decide to change software.
CPiO's software portfolio
CPiO is a Strategic Partner of Sage UK, highly experienced in delivering financial software solutions. Sage applications often make the shortlist of businesses looking for new or replacement accounting software. And with Sage Software used by over 6.1 million users across 600,000 UK organisations, it's clear that many businesses go on to select Sage.
The Sage solutions we offer include Sage Intacct, Sage 200 and Sage X3. Should you be considering new software and have long or shortlisted Sage, we would love to help you evaluate your options.
Contact us today to discuss your requirements.
Katie Mansell
