Winning CFOs: Implementing and Applying Better Practices, with Website

CHAPTER 21

Implementing a New Accounting System

If you have read Chapter 20 and still are convinced that you really have to upgrade your general ledger (G/L), then there are a number of better practices worth implementing:

• Do not underestimate the communication commitment—have a page on the intranet and talk about the successes in the project to date.
• Get the CEO to send out the memo telling people that they must attend the training session (see Appendix J).
• Celebrate every small success—the celebration alone is a great communication tool.
• Get a day or so of public relations (PR) support—ensuring that all presentations and key memos are bounced off the PR expert. You will be surprised how they can improve the sell component.
• Sell the changes to the budget holders—remember, you sell by the emotional drivers, not by logic.
• Ensure that the next chart of accounts is set up by someone who has the authority and persuasive communication skills to get management and budget holders to agree that there should be fewer than 100 account codes covering the profit and loss statement. See Chapter 13 for the rules for limiting account codes.
• Run a focus group workshop (see Exhibit 21.1) to ascertain the key issues, the problems that should be resolved, and so on.

EXHIBIT 21.1 Agenda and Outline of G/L Focus Group Workshop

One-day focus group workshop on implementing a new accounting system—and getting it right first timeObjective: To ensure a key group of staff and management are fully aware of what is ...