You're responsible for Corporate Accounting. How do you ensure you're using the right technology?

Compatibility: choosing technology that integrates well with your existing accounting systems and software. Scalability: selecting technology that can grow with your business and handle increased volumes of transactions. Security: ensuring that the technology is secure and complies with data protection regulations to prevent any breaches or data loss. Automation: Opting for technology that automates repetitive tasks to increase efficiency and reduce errors in accounting processes. User-Friendly Interface: Selecting technology that is user-friendly and easy to navigate will facilitate quicker adoption by users. Cost-Effectiveness: Assessing the cost of the technology and ensuring that it provides value for money in terms of features

One of the key factors in determining before a corporation invests in a viable Business application platform is to assess and determine the following: - Human component(look with-in); Are the organizational personnel receptive to move to another or a newer business application platform. Personnel might be hesitant as they may have been on the current existing Technology(e.g. Excel, QuickBooks etc) and have been using it for years & have grown accustomed to it and may even think that the new business application would be too costly and is unjustifiable. Therefore, assessing internally is quite significant before moving to the next step as to the business application justification and assessment.

The right technology would not be using current tier 1 ERP designed 10 or 15 years ago. The right technology would be seamless not full of bottlenecks or requiring millions in dollars for bespoke processes unique to your organisation.

Assessing your current situation is important as it informs the budget, direction, challenges, opportunities, and past successes and failures. The present time is always important as it Carrie’s lessons from the past, the resources, and as well as opportunities for the future. You take a look at the challenges you’ve had in the past which need to be addressed. The nature of challenges will inform options you have in terms of addressing them. The resources include things like your budget, staff, knowledge, and expertise. You would something that you and people in the organization will be able to use and obtain value from use. Lastly the opportunities. You would want options that allows or have room for improvement or flexibility.

Antes de adotar qualquer tecnologia, é essencial entender as necessidades específicas da empresa. Isso envolve analisar os processos contábeis existentes e identificar áreas que podem se beneficiar da automa??o ou da digitaliza??o. Pergunte-se: Quais tarefas s?o repetitivas? Onde há margem para erros? Quais informa??es s?o cruciais para a gest?o financeira?

Prior to comparing different ERP business application options, the organization would need to determine; - Budget and ROI. Once the change management component has been assessed & addressed(yellow or green light), objectively corporation needs to have an aligned budget, acceptable ROI & positive NPV when selecting & investing in appropriate ERP business application. Having a high ROI and a +ve NPV may not be the only objective factor(apart from the viability of the ERP Business application) as part of this strategic decision-making process. Other factors like; the organization’s internal Team availability, role & participation of business and IT personnel and if the implementation partner’s team is on-shore, off-shore or near-shore etc.

When comparing different options, it is important to consider your needs at the present but also consider probable future ones as the organization grows. You would want to avoid investing today for something that would not benefit you tomorrow as your company develops. The implementation phase is also very crucial to consider when assessing different options. This needs to be as smooth as possible to avoid impacting considerably the operations. A system that is too complicated to implement or needs operations to stop or significantly slow down has risks that need to be assessed and addressed.

The important step is to evaluate the actual situation for the company and choose the best option for technology ways to increase the profitability for the company.

Involving the team in the decision-making and selection process is vital. I did a Harvard University actual case-study long back in which the ROI was quite high and NPV was very favorable, but the organization's personnel were unwilling to move and would have costed the organization significantly more(at least in the short-medium term) if they had gone with the decision. From an ROI & NPV perspective, it would be beneficial to involve accounting-finance personnel to assist in the calculation of ROI and NPV as well. Based on IFRS, GAAP & other accounting principles, a corporation’s Investment in ERP solution maybe be allowed to depreciate or amortize and consider investment as Intangible(software component) & Tangible(Hardware) Assets.

comparing options consider changing in technology, let it be easily upgradable to avoid being phased out and incur cost to acquire another.

Investir em treinamento para os profissionais de contabilidade é essencial. Eles precisam estar atualizados sobre as ferramentas e saber como usá-las corretamente. Promova uma cultura de aprendizado contínuo para que os responsáveis pela contabilidade estejam preparados para lidar com as mudan?as tecnológicas.

Once a Technology solution is selected and firmed-up based on various criterion(e.g. demos, vendor and/or implementation partner assessment, risks etc), and comes time for implementation, then methodologies like Waterfall, Agile-Scrum, ASAP etc can be utilized to implement along with project management of it. These would include but not limited to Analysis, Design, Develop, Test, Implement and sustain. Please note retrofits may be needed and there could be gaps identified or scope creeps which may need to be fulfilled and or addressed.

Testing and validating because this enables the user to assess the technology's suitability as well as reporting capabilities that enables management to make informed decisions towards the continuous growth of an entity.

Post go-live, sustainability and scalability would be important factors and should also be included as part of initial selection of the ERP business application, Vendor and implementation partner(s). There should also be an internal process and use of Technology applications(like HPQC, Cherwell, Jira, Excel etc) for Application Life Cycle management, to mange project implementation and post go-live sustainability and scalability.

A tecnologia está em constante evolu??o. Portanto, é importante revisar periodicamente as solu??es adotadas. Esteja aberto a ajustes e melhorias conforme novas tecnologias surgem no mercado.

Le choix de la technologie intègre également l'aspect financier. Est ce que le co?t d'acquisition et de maintenance peut être supporter par l'entreprise? Et sur le long terme, l'entreprise pourra-t- elle suivre l'évolution technologique? Est ce que la technologie est adaptée à mon environnement et à mon activité? La technologie doit permettre de gagner en temps dans l'exécution des travaux. Elle est un outil de communication et non un frein à la communication de l'information comptable et financière.

As business grows or contracts, we need to be adaptable and be resilient. As business evolves so does Corporate Finance and Accounting of it. Continuous improvement (including learning, human component) and scalability of business, its functional processes, reporting and analytics(strategic and operational) are vital. Having the appropriate fit and scalable Business application will provide the platform for it and foster human and business growth.

To ensure you're using the right technology in corporate accounting, you must consider industry practices accross the world, relating to technology.

Garanta que a tecnologia escolhida ofere?a seguran?a robusta para os dados contábeis. Isso é fundamental para proteger informa??es sensíveis e evitar fraudes. Utilize sistemas de backup e criptografia para proteger os dados contra perdas acidentais ou ataques cibernéticos.

Para acrescentar o uso da tecnologia antes de tudo, avalio se o processo está adequado e funcionando, após o teste e a prova social, verificamos se temos as pessoas adequadas, na sequência escolhemos a melhor ferramenta tecnológica afim de aperfei?oar e economizar trabalhamos manuais e focar o ser humano no que importa, análise e pensamento consultivo. Acredito que por mais tecnologia que tenhamos jamais será a mesma coisa que o pensamento resolutivo e sensibilidade das pessoas.