As part of strategising, financial leaders take the plunge to migrate finance systems to optimise operations and improve internal processes.
It is only important that CFOs ensure that the migration is smooth, including project management, testing, data transfer, integrations, and user adoption.
Undeniably, good project management plays a vital role to a successful migration project. To keep a finance leader's thoughts in order, one must take into consideration the following:
1. Build out a clear timeline
This will ensure finance chiefs to keep things realistic, and in turn, boosting transparency. This also gives finance leaders a strong baseline to fall back on when needed.
2. Get key stakeholders involved to increase buy in
It’s important to keep the conversation going, so bringing in senior leadership and have them promote the migration as hard as they can.
3. Evaluate old data
Can finance leaders close any ongoing transactions? Are there old accounts that can be removed? This is the time to do it. It is also important to consider historical data and how these can be migrated over safely.
4. Review your system architecture
The key to a smooth migration is ensuring there is a clear map of how everything is connected, and how things can be done efficiently.
5. Get your security credentials in order
The finance team handle some of the most sensitive data imaginable. Preparing a strong protocol system will keep things protected should the worst happen.
