Accounting Firm EMU's Blog

The Strategic Advantage of Involving Financial Partner in ERP Project

A few weeks ago, we attended Severa’s exciting event and had a discussion on why it is beneficial to involve your financial partner at an early stage of your PSA/ERP implementation, and I thought I should share some ideas on that. With the constant advancement in business technology, it is wise to leverage an Enterprise Resource Planning or Professional Services Automation system to achieve that operational edge and strategic agility. Although the implementation of such systems is characterized by elongated discussions on technical details, it strikes me that an equally important part of the equation critically affects success: the early involvement of your financial partner. The reasons behind involving them from the start are clear.

erp implementation

ERP and PSA systems merge finance and operations to get a more consolidated picture of what makes your business tick. However, implementing the system without the input of your financial partner is much like setting off on a grand adventure without a map. While they are responsible for accountancy and payroll, they know enough to ensure that the financial features of the ERP/PSA match your bookkeeping practices, legal requirements, and financial objectives.

Bridging the Gap between Finance and Operations

Financial partners are fonts of wisdom in financial systems and processes. Because of these early contributions, the system will be configured to deliver error-free accounting, legal reporting, and insight from day one.

Financial risks can be discovered and no business operations affected. It can offer a clear business process that fits the new system installation and modified ones, or help to discover several other financial processes that can fit in place to boost the main business objective. No features that are too expensive will be considered. It will be tailored to represent your financial goals, meaning you can avoid a system with features you will never use.

Why Early Involvement Matters

While your financial partner plays a crucial role, it is also essential to recognize the broad value of an ERP and PSA system. These system platforms offer a comprehensive suite of solutions designed to enhance operations, financial management, and customer satisfaction. It is intentionally accurate in implementing a system to help identify a new way of running a business: no more activities will take up most of your time. With information all across the company developed on a single platform, decision-makers have annual access to crucial metrics, including the level of contributing to performance, project responsiveness, and process-based metrics. These systems offer grip resettlement as they are growing bigger and not an obstacle because they can support more procedures, ‘unplug’ and data users, although with the right bases for extensibility. They offer the perfect way to manage a job centered with the sedate ability to share information across departments, data visibility, and improved communication and project performance.

The Broader Value of ERP/PSA Systems

In summary, I would say that including your financial partner from the project’s outset is no longer a best practice. For any ERP or PSA implementation, it is a smart move that guarantees the technologies we use are well aligned with our financial strategy, risk factors and compliance requirements – as well as all the other benefits of ERP and PSA solutions. This collaboration is the foundation of true integration, operational excellence, and long-lasting business success. Let’s try to keep this one in mind as we navigate our increasingly complicated world of business technologies— the tools that matter less than the hands that wield them.

 

Best regards,

Fredrik Widenäs
the CSO at EMU

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