Within the nonprofit sector, each greenback issues. So, when your group is contemplating the acquisition of latest accounting-related software program know-how, it’s essential to hold out a radical overview of your necessities earlier than you signal that settlement.
Key software program purchases usually require a major funding, so that you wish to do what you possibly can to keep away from as a lot post-decision dissonance as attainable. Along with the monetary funding, there are a lot of folks, processes, and programs that that you must account for with this choice.
Earlier than you determine so as to add one other layer of duct tape to your present system, listed below are a number of tricks to be sure to ask the appropriate questions and determine your present and future wants so that you get the accounting software program that may assist your group develop.
Prioritize Planning
If you wish to mitigate any post-purchase remorse, spend plenty of time planning. This section may be essentially the most complicated and time-consuming half—and some of the efficient methods to get a robust ROI.
Assess your group’s needs and desires earlier than you even begin speaking to potential distributors. Don’t do that in a vacuum. Contain your workers by growing a steering committee comprised of various members of the workforce who work together along with your system, together with your accounting, know-how, and program groups. This provides folks possession and allows them to take initiative within the course of. By getting the appropriate folks in your steering committee, you possibly can prioritize the end-user’s needs and desires and preserve their expertise top-of-mind when making these choices.
One essential aim of your steering committee is to doc your group’s requirement checklist for know-how options. This could embody the workers assets and capability for this mission—from vendor choice by way of implementation. Establish the particular performance wants of your group, akin to a segmented chart of accounts for correct fund accounting and whether or not the software program was constructed for organizations like yours.
As soon as finalized by the committee, have the requirement checklist accredited by your management. This doc will make it easier to be higher ready when evaluating the potential distributors, simply eliminating people who don’t meet the necessities.
You may additionally spend money on an exterior subject material professional to assist ensure all voices are included as you suppose by way of your group’s wants and the wants of the mission. These people may also make it easier to develop mission administration milestones and timeline administration processes. They will take a number of the course of work, like prioritization and follow-ups, off your plate so you are able to do your full-time job. Having an unbiased third-party concerned can be sure to are asking the appropriate questions, akin to, “How do I arrange my initiatives? Is my fund construction appropriate? What modules can I make the most of?”
Set Expectations for Implementation
Implementation is one other giant a part of the system choice course of, however the work you probably did on outlining your necessities ought to make this section a lot simpler. You might be much less more likely to be swayed by a vendor’s shiny new function if it’s not in your checklist.
As you slim the checklist of attainable software program choices, know what to anticipate by way of vendor functionality and timeline for implementation. That is your likelihood to guarantee that the seller has the instruments and help they should arrange your system accurately and effectively, based mostly in your necessities doc.
Search for distributors which have ongoing system testing and help earlier than, throughout, and after implementation. This would possibly embody a reside help choice, a consumer neighborhood, and weekly standing name cadence with a devoted implementation specialist. Be certain that they work repeatedly with organizations like yours, so they’re accustomed to your particular wants.
That is additionally the purpose the place your group might have to wash up different auxiliary programs linked to the one being applied. You don’t wish to deliver previous issues into your new resolution, so do a overview of your chart of accounts, normal ledger programs, payroll, and accounts payable to ensure what strikes into your new system is appropriate.
Set up Submit-Implementation Monitoring
Even after implementation, periodically assess your ongoing wants. Monitor your new system’s efficiency and ensure it nonetheless adheres to your necessities doc. It will let you understand rapidly if any adjustments are wanted, and it may possibly additionally present the seller with perception into their product’s efficiency. Maintain common workplace hour periods along with your implementation workforce to debate points that come up when utilizing the software program after the go-live date.
Additionally do not forget that this course of requires flexibility and managing expectations. Even with ample planning preparatory work, there’s nonetheless a chance that there will likely be a steep studying curve to regulate processes and folks to the brand new system. It’s essential to take as a lot time as wanted to put aside assets and time to organize your workers and processes.
An exterior subject-matter professional may also help with the change administration facet. These people can facilitate a smoother transition to the group’s “new regular” method of working, growing the possibilities for achievement.
Heart Your Mission
Each software program choice and implementation is completely different, however all of them require cautious planning and energy. Preserve your group’s long-term mission in thoughts as you create your necessities documentation, overview distributors, and alter your processes. With that as your guiding middle, you improve the probability of choosing and implementing applied sciences that may make it easier to meet your wants long-term, whereas minimizing the potential danger of purchaser’s regret.
If you wish to be taught extra about how mitigate post-purchase remorse, take a look at the webinar, Avoiding Purchaser’s Regret with Fund Accounting Software program: Good Methods for Confidence Throughout Choice and Implementation.
Christina Alfaro Lopez of Forvis Mazars additionally helped write this submit.
