How the freelance CFO can help ERP vendors
ERP systems need implementation but new customers don’t always have their financial and accounting systems in sufficiently good shape.
Referral to ceefo for a freelance CFO can help ERP customers to prepare and transition through system implementation more successfully.
Most ERP systems have an integrated accounting module for handling financials, and most ERP vendors have implementation consultants to assist with the migration of existing business processes and historical data into the ERP.
When a new ERP customer is a large business, there will be a CFO to assist with system transition from the customer’s side. It would be expected that the company’s financial records and accounting systems would be coherent, current, and compliant. In these situations, the software company’s implementation plan should be executed on-time and within budget. Everybody’s happy. And the software company looks good!
When smaller companies have grown large enough to need an ERP, it can be more of a challenge for software implementation teams. Often the CoA (Chart of Accounts) isn’t well-organised and needs a major overhaul. Sometimes the timing of bookkeeping transactions can make it impossible to produce reports with the quality of insights or level of detail now available to the customer by investing in the ERP. Customers can become dissatisfied with their new system and not realise the disappointment is caused by their own accounting processes, not the system.