How to be Stress Free When Choosing Your ERP
By Martin “Marty” McGann III, CEO, Premier Consulting & Integration, LLC (PCI)
It seems there is a great deal of fear around outgrowing your accounting system, and identifying when it’s the right time to consider moving to a new system. Now is the time to eliminate the fear of change and provide detail on important factors to consider when choosing your next enterprise resource planning (ERP) system.
1. Identifying the Right Time
Timing is key to most important decisions in life, choosing ERP software is no different. It’s imperative to prepare for the future of your business in advance, especially in the government contracting industry. One of the worst things that could happen to a contractor would be to win a contract and fail an audit a few months in because the current accounting system is not Defense Contract Audit Agency (DCAA) compliant.
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2. Finding Comfort in Change
It is normal for people to fear change, but for any growing business, change is so critical to the future growth of the company. Changing your ERP is an infrastructure change. You want to build a business process that’s going to stand and grow with you. It’s important to map out your business plans and identify the pain points that will now be eliminated by your back-office system. This will help you better understand the financial gain of your new ERP.
Three ways to find comfort in change:
Make time – Set aside time. If you don’t take the time to look at your organization and identify areas of weakness to gain a better understanding and prepare for new ventures, you will never feel ready for change.
Imagine growth – Think about where the business will be by the end of the year. Start mapping out new processes. This will only help your organization with change management when the time comes!
Don’t be behind the curve – Don’t wait until you have a new system in place to solve your problems. Identifying new structure before it is set will help you to better run your business. Don’t wait until you win your big contract to then implement your ERP system. Have everything set in place so you are set up for success.
3. Eliminating Stress When Choosing Your ERP
Find a system that works best for your business. Once you’ve identified your pain points and found peace with the idea of change. You’ll want to purchase an ERP, such as Deltek Costpoint, that will grow with your business. Find software that makes your internal team comfortable, yet also offers a robust training program. Identify if your team will need to reassign internal tasks to ensure the ERP system is properly run. Choose a software provider that can easily migrate your historical data into the new system, and finally, chose a provider that will be a true partner to support your business journey.
This post was informed by the webinar 5 Early Indicators It’s Time to Think Outside of Your Box Solution, available on demand. During this session, I touched on additional warning lights to look out for as a government business grows and matures. Make the time to review the download for yourself.
About the Author
As a former CFO and Controller for growing government contractors, Marty has had vast experience in Government Contract accounting. In 2009, Marty started his own business (PCI), in an effort to provide best-in-class implementation, training and accounting support for small to mid-sized government contractors.
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