As a controller you’re on the front lines of the accounting department, dealing with your software on a daily basis. If that software is data-driven and cloud-based it's probably an asset. But if it's an outdated or an under-powered tool, you understand the frustrations that come along with it.
As your organization begins to grow it is imperative to have the proper accounting software that can handle faster speeds, more data and provide your organization with the information it needs. Making the case to upgrade your accounting software can be a tough sell, but with the right explanations and reasoning, you can show management that making the move to a new software makes sense.
Controllers have a valid and even vital case to make when it comes to upgrading accounting software. By focusing on how a new software supports the company's bottom line and long-term objectives, management will be able to see the benefits associated with a new software system. When it comes to discussing reasons for upgrading, here are a couple that we recommend focusing on:
Emphasize the ROI
Seeing the cost of the new software is easy. Seeing the value associated with this new system can be difficult and tougher to understand. It may not be possible to provide an exact number, but it's important to stress the widespread benefits of better accounting. Companies can abandon older technologies and avoid hiring new accounting and IT experts, which helps to cut costs dramatically. Conversely, better software transforms financial data into actionable insights, which makes planning more confident and constructive. With the new types of accounting software available, your employees will be able to reduce their time spent on manual, time-consuming processes and take that time to focus on analyzing and developing a financial strategy. By focusing on the potential return, executive level management will see that purchasing a new accounting software is an investment in the organization’s future, not a cost.
Prioritize the Cloud
When executives hear about new tech investments, they tend to think about huge licensing costs and major capital expenditures on hardware and data centers. However, when it comes to working with cloud-based technology, these cost concerns become irrelevant. With cloud-based technology, world-class software is available for a low monthly subscription fee. Even better, managing, updating, and optimizing that technology is handled by an off-site team, resulting in no additional costs to your organization. Stress to executives that the cloud is both the easiest and most cost-effective way to introduce new technology. As a result, it delivers a reliable upgrade rather than an unpredictable disruption.
Making the dollars and cents case for software like Sage Intacct is the surest way to get the C-Suite's attention. After that you can focus on all the advantages of an accounting department that is efficient, insightful, and accurate. Finally, conclude your case by emphasizing the link between keen financial insights and a continued competitive advantage. If executives see this upgrade as both an accessible opportunity and an urgent obligation they are much more likely to offer approval.
BlumShapiro is here to put controllers and companies on the path to success. Contact us for more information about accounting technologies and solutions.
This content was originally posted here.