Companies that continue to live in an environment of complicated, error-prone spreadsheets, and limited financial and operational visibility find themselves at a competitive disadvantage in an increasingly dynamic business environment. The good news is that there are many modern, cost-effective, financial management systems that can support, and not hinder, your company’s growth. The time to upgrade your financial management system is here, but how do you choose the right solution for your company?

1. Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals
5 Steps to Selecting the Right
Financial Management
Software Solution

2. • Understand the tangible, hard dollar, savings that can be
realized with a replacement solution
• Learn how to avoid common mistakes made in the
selection of financial and accounting software
• Understand how to conduct a thorough financial
management and accounting evaluation and make the
right decision for your company
Learning Objectives
After attending this event you will be able to:

3. Proformative Event Notes
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remain for the duration of the event. Email
cpe@proformative.com for questions about CPE.
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event.
• Please take the short survey at the end of today’s
webinar.

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Check it out at www.proformative.com/courses

5. Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals
5 Steps to Selecting the Right Financial
Management Software Solution
Todd Perlman, President, BT Partners
Michael Silver, CPA, Channel Executive, Intacct

6. Today’s Agenda
• Ready to replace your financial
applications?
• Vendor selection best practices
1. Getting started
2. Define your requirements
3. Understand your options
4. Evaluation process
5. Calculating ROI and economic
return
• Summary and resources

7. Typical Reasons to Change
Struggling with reporting and can’t analyze operating data
Inefficient manual processes are draining productivity
Dependence on unwieldy spreadsheets to run our business
We have multiple locations or currencies
We need real-time access to financial data
Require financial consolidations across several business
units

8. Inefficiency in the Accounting Function
Often Hinders Focus on Business Leadership
Source: Armanino McKenna, “The CFO EvolutionTM Benchmark Survey Results,” Dec 2010
Top Bottlenecks in Monthly Close ProcessTop Issues for CFO Organizations

9. Just Get Started
You may decide to stay with your current solution,
but you’ll still learn a lot from evaluating all your options:
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Assemble a Project Team
Involve End Users
Set Clear Goals
Get Executive Buy In
Create a Project Schedule

10. Define Your Requirements
• Document the issues with your current system
• Prepare a top-down strategy
– What do you want to achieve with your new system?
– What type of information does management need to make better
business decisions?
– What is the business impact of that?
– Which processes do you want to automate?
• Tap in to outside experts and your peers
• Document expected improvements and ROI/TCO
• Use a 3rd party expert to help
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11. 4 Key Areas Every CFO Thinks About
Boost productivity of financial processes
– Where do you spend your time now?
– What is being done in Excel?
Supply insight for better and faster decisions
– How old is the information from which you are making decisions?
– What is the bottleneck in getting the data?
Focus resources on your core business
– What other financial or related systems are critical to your business?
– Where can you eliminate duplicate entry, entry errors etc?
Deliver scale for growth
– What are your business needs 3-4 years from now?
– Do you have a business systems map to meet those needs?
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12. Thank you for your interest in this presentation.
View the on-demand webinar or download the full
presentation at:
www.Proformative.com
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