39 New Ideasfor CFOs
Contents
1. Distinguish all the different types of accounting reports used by your department Define your specific data retrieval and reporting requirements Specify your custom reporting requirements Determine how many users will have administrative access to the system Ascertain the level of accounting and computer experience of potential system users precision Consider all the benefits of more reliable and faster access to data Think about how much it is worth to your company to improve strategic planning How much will it cost you if your next audit doesn t stand up to scrutiny How will your company s reputation improve if your new system gives your customers better faster and more professional service 4 Compromise is a good thing Your final choice of software probably won t satisfy everyone but through clear communication and patient education most people will recognize that the decisions being made are fair and reasonable Plan to spend more time than you d like handling objections especially in the early phases of the project Plus have a strategy for fine tuning the system once it s installed Count on a new system to satisfy about 90 percent of your needs and wants and figure out how you are going to deal with the remaining 10 percent You may need to consider some staffing changes or revising your policies and procedures Setting Objectives People who buy accounting software usually2. ACCPAC CORPORATE HEADQUARTERS ACCPAC International Inc 6700 Koll Center Parkway Third Floor Pleasanton CA 94566 925 461 2625 800 873 7282 W com accpaconline com REGIONAL OFFICES Australia Melbourne Sydney Canada Mississauga Toronto Montreal Richmond Vancouver Mexico United Arab Emirates Mexico D F Dubai United Kingdom Slough London Singapore Singapore Africa Claremont Cape Town Rivonia Johannesburg United States Atlanta GA San Jose CA Santa Rosa CA AGCPAG ACCPAC International Inc 6700 Koll Center Parkway Third Floor Pleasanton CA 94566 800 873 7282 www accpac com www accpaconline com AR Copyright 2001 ACCPAC International Inc All Rights Reserved ACCPAC the ACCPAC logo and ACCPAC Online are registered trademarks or trademarks of ACCPAC International Inc or its affiliates in the United States and or other countries All other marks are registered trademarks or trademarks of their respective companies C039DM1U1001
3. software to have the capability to grow and change as your organization changes Most accounting software companies have various families of products geared toward specific sizes of customers A key question to ask is whether or not the products are built on unified system architecture and if they have a built in upgrade path from one product to the next If the family of products has been developed on the same architecture future upgrades from product to product and the subsequent data exchange can be managed much more smoothly 21 Make sure your software can be customized No one software package is right for everyone And no accounting solution on the market will have every single feature you d like Many packages give you useful modification features that let you change reports or screen formats For even more control over your system look for software that allows you to make more specific customization This will ensure that your software will meet your needs no matter how your business changes 22 Make sure the software can adapt to your needs Finding a solution that can adapt to the specific needs of your company is essential Some packages offer open architecture which allow you to easily add on additional features and adapt to new IT paradigms Open architecture is especially important if you expect your company to experience growth or change in the future If you have a growing business one of the most impor
4. systems that support document attachments and have built in data backup and storage How to be a Good Customer According to industry consultants good customers receive more attention and better care during implementation and follow through Here s their list of what makes a CFO easy to work with A Good Customer Asks lots of questions Designates a single project owner Coordinates internal issues Delegates authority Takes responsibility for decisions Spends lots of time on earliest project phases m Provides performance feedback at each key milestone mls willing to discuss differences as they arise m Gives a heads up on new changes or requirements m Explains problems clearly Knows how to foster teamwork and cross organizational dialogue m Will pay a fair price for goods and services m Doesn t keep moving the goal line 39 New Ideas for CFOs 7 Working with a Consultant It s possible that your organization has the internal staff to successfully implement your new accounting system It s more likely however that you don t have the resources or expertise to devote to analyzing purchasing installing and maintaining a system A software consultant can help considerably they ve been through the purchasing and implementation process many times For a reasonable fee they can save you significant time and money by helping you evaluate select and ge
5. any software publishers offer a maintenance program that assures you of upgrades and interim releases for a low annual fee These are typically worth the modest investment 6 39 New Ideas for CFOs Selecting the Right System Understanding your business s financial information needs is the first step to selecting the appropriate accounting software However there is typically no obvious choice because so many competing products promise similar results You can end up mired in the feature lists and still be uncertain of your final selection Here are some tips for choosing wisely 18 Choose your software before your hardware You re probably going to need some additional hardware to implement the new system But since system requirements are generally determined by software and not hardware you should choose your software first and then buy the hardware recommended by the software manufacturer or your consultant 19 Start with the big picture Don t dive into details at the beginning of your selection process First decide on what key characteristics the system must have Eliminate any packages that don t comply with your fundamental requirements and you ll narrow the field significantly There is no point in having a 200 page Request for Proposal RFP if ten questions will shrink the field from 50 possible vendors to five 20 Don t underestimate the importance of system architecture You ll want your
6. cal support These can be purchased and maintained by your organization Another option often available with e business software however is to utilize an Application Service Provider ASP This innovation allows you to reduce your initial costs by effectively renting hardware and software which reside off site An ASP option can deliver significant savings on both the initial investment and ongoing maintenance and upgrade costs Don t overlook the lease vs purchase option if it is available One Low Cost Option Hosted Application Services Application Service Providers ASPs host software applications on their servers and rent them to their customers via the Internet An ASP can give you high end business solutions at a fraction of what it would cost you to purchase hardware and software implement a network infrastructure and maintain and upgrade these complex systems What to look for in an ASP m First rate solutions and superior levels of customer service and support State of the art software hardware and network infrastructure m An advanced system for data protection backup and recovery Proactive detection of malicious code viruses and system intrusion m Service level agreements that clearly specify the levels of performance consistency and availability m Flexible subscription service monthly one year and two year agreements m 24 7 customer support technica
7. cation 26 Check out the software publisher Study the makers of the software Find out how long the company has been in business what their long term prospects are and what kind of customer support upgrade protection and technical support they provide 27 Popular products are popular for a reason Just because a software product is popular doesn t mean it s right for you But if a company has lots of users they re probably doing something right A large installed base is like an insurance policy for users Choose a product that has stood the test of time satisfied companies similar to yours and delivered good value 28 Evaluate the software by what it can t do Software product limitations are often much more revealing than feature list comparisons Find out the maximum number of customers vendors and inventory items allowed ask how many line items a single invoice or sales order can handle and find out the maximum number of users that can work with a particular application at the same time 29 Use mistakes as your acid test People make mistakes If the software handles errors intelligently that s a sign of good design Some of the most widely promoted accounting systems do not allow you to correct an error in a purchase order without canceling the entire P O and re entering it from scratch Look for software that tests for errors such as duplicate customers and vendors incorrect item numbers an
8. d unreasonable amounts and dates The system should also flag unusually high quantities or unit prices and offer valid alternatives 30 Evaluate the learning curve Intelligently designed software is easy to learn An intuitive interface will shorten training times and facilitate the conversion Look for input fields in consistent and expected locations and screen design similarities among all modules Be sure that the software comes with effective learning tools classes and demonstrations to speed the learning process Don t compromise when it comes to end user support 31 Understand the difference between standard functions and extras Some software organizations provide basic functions but then make you purchase the various extras that come standard in other organizations software An extreme example would be to buy a car and then discover that you must pay additional for the engine steering wheel and tires Confirm what is included in the core pricing and what must be purchased separately 32 Go paperless Today s most effective software solutions utilize less paperwork As you explore accounting and other software solutions focus on how much paper you can eliminate during order entry basic accounting input shipping and handling efforts and other areas within your organization The more paperwork and input you can eliminate the more efficient and error free your organization becomes Consider
9. e o 5 O E CO e o e D eE L oO e o e o e o e C WO E D Eo eD REL WOBCEC BOL el eL COECECIEC UOBEBOECEC 39 New Ideas for CFOs 11 ACCPAC About ACCPAC From small office applications to enterprise systems ACCPAC offers the most comprehensive scalable and cost effective end to end e business solutions in the industry delivering unparalleled performance advanced functionality cross product integration and rock solid stability By selling exclusively through a qualified channel of authorized resellers ACCPAC is never far from your front door no matter how many locations your business has With a worldwide network of more than 5 000 well trained and experienced Business Partners and more than 500 000 registered clients ACCPAC has helped companies around the world gain strategic advantages designed to take businesses like yours confidently into the future 12 39 New Ideas for CFOs ACCPAC is a world leader in mission critical business computing providing software support and integration services in more than 100 countries around the world Headquartered in Pleasanton California ACCPAC has more than 600 dedicated professionals located in offices throughout the United States and in Australia Canada Mexico the Middle East Asia South Africa and the United Kingdom ACCPAC is a subsidiary of Computer Associates International Inc one of the largest and most respected technology companies in the world
10. his information will become the foundation for your core list of requirements when evaluating integrated solutions 4 39 New Ideas for CFOs 7 Know what s special or unusual about your company Your company probably has some unique requirements that can t be changed Perhaps you need to track products by lot number or serial number Maybe you need multicurrency capabilities Do you need to price product by warehouse location Does your industry have special reporting techniques Make a list of requirements unique to your industry and organization 8 Know which features you can t live without When you survey your task force you ll uncover a few system capabilities that are critical to your company such as particular reports or tracking methodologies Once you discover that they are absolutes put them on your must have feature list 9 Think globally International businesses are expanding rapidly Consider global issues such as multicurrency capabilities availability of the software in other languages compliance with foreign reporting requirements and international support 10 Look for solutions that can easily adapt to your business needs In order for a solution to meet your business needs it should mesh with your existing business practices and adapt to technological innovations Again ideally you want a solution that s simple intuitive and closely matched to how you already do business Be
11. kes and the expenses involved Mostly d You solve puzzles by trying new ideas You like to imagine possibilities and you are hard to pin down You need flexibility Ask your consultant to participate in some blue sky task force meetings to help make sure all the possible options are discussed Tell your consultant to expect changes which will impact deadlines and costs Ask your consultant to provide regular status updates so you can make sure you stay in sync in the face of changes 39 New Ideas for CFOs 9 38 Don t sit for product demos too early Salespeople sometimes urge you sit through a product demonstration before you re ready it s easy to get caught up in bells and whistles and forget about your objectives and the must have list Don t watch a demo unless you re armed with your list of requirements and can control the process Help your team understand the need for clear objectives and priorities choosing not theirs This gives you the ability to ensure that the features you need are consis tently presented by each vender you review 39 Require cost forecast revisions Obviously you ll need to forecast the cost of implementation as accurately as possible Avoid surprises get a detailed breakdown of costs and fees before and during the requirements phase As objectives change make sure you before they spend their time looking at demos request revised cost estimates Also it s you
12. kground information and get as many facts in place as possible c Start creating the presentation at the beginning and get as much done as you can stopping when you run out of time d Pull together a complete presentation but hope the board doesn t ask for a lot of detail because you don t have it Scoring Count the number of a b c and d responses you ve marked If you circled Mostly a You solve puzzles by getting physically involved You like to touch things and move the parts to see how they work You need a product demo You can t buy until you really see what makes it tick Ask your consultant to spend an entire afternoon showing you how the product works Ask for specific examples and use the system yourself to see how you like it Mostly b You solve puzzles by gathering data You like to get background information before you start on any project You need concrete data Ask your consultant for timelines and comparisons in chart form You need specific feature lists and a detailed organized product specification Mostly c You solve puzzles by putting a process in place When you hear a new idea you think about the steps that will be required to complete the task You need a plan Your consultant should present you with a timeline that shows all of the roles and responsibilities associated with the project Your consultant should provide you with a detailed cost forecast showing each project step the time it ta
13. l deliver significant strategic advantage Look for accounting software with strong e business capabilities even if e business functionality is not one of your current requirements Areas to consider include support for business to consumer and business to business buying and selling the ability to empower employees through intranets and browser based applications and the capability to extend systems through mobile wireless applications Choosing a software manufacturer dedicated to e business solutions will ensure your system can grow to match your organization s evolving strategic goals 16 Look for integrated Web store solutions A Web store isn t really a solution if it doesn t integrate with your back office When shopping for Web store creation and management software look for one that will eliminate time consuming manual re entry of orders received via the Web It should seamlessly integrate with your accounting system without costly customization Web orders and payments must automatically flow through to your accounting system Changes to customer and inventory information in your accounting system should automatically flow through to the Web store Furthermore you should be able to process orders in either real time or batch mode 17 Explore Application Hosting One of the challenges of implementing an integrated business management solution is that it requires a fairly large investment in hardware software and techni
14. l support regular maintenance and upgrades and full backup and recovery capabilities Look for an ASP that can provide your business with infrastructure management and systems monitoring of your mission critical applications An effective ASP agreement will eliminate initial IT capital expenditures and lower your recruiting and training costs thereby reducing your total cost of ownership 39 New Ideas for CFOs 5 Penny Pincher s Checklist According to consultants and CFOs these are the best ways to achieve the lowest costs for system implementation based on a three year window m Take advantage of timing Plan the conversion for your slowest time of year not during a period end when accounting is subject to extra time pressures Gather thorough input from all stakeholders during the requirements phase and hold frequent review meetings during implementation The biggest cost increases come from unexpected changes Postpone modifications until after the system is installed You may not need as many changes as you thought Invest in good training for the system users and administrators It will pay off quickly Buy the maintenance plan With something as complex as financial systems software maintenance is inexpensive insurance Upgrade often You may not need to move up every time your software or hardware vendor adds a new feature but getting too far behind is expensive and risky M
15. less paperwork and the corresponding reduction in input and other errors and better order accuracy 13 Don t forget about your sales team Study after study indicates that customer satisfaction and loyalty are crucial success factors Customers are the life blood of any organization The better you are able to understand and satisfy customers the more your business will prosper Closely linked Customer Relationship Management CRM software will allow your organization to increase customer satisfaction Your sales team will have a much better understanding of customer purchasing habits both in aggregate and individually Research which customer management options are available with the accounting software you are considering and how closely linked they are 14 Take time to research human resource management systems As with any integrated solution take time to research HR management systems Evaluate it like you would accounting software don t just assume it will meet your needs Look past compensation and benefits to be sure that it meets your company s specific requirements in other areas such as integration with federal and state agencies and online filing of reports and documents Be sure that it really does integrate and synchronize with payroll eliminating the need for redundant data entry 15 Be prepared to extend your business to the Web Software optimized to leverage future e business opportunities wil
16. ny M is a mid sized sheet metal manufacturer They installed a financial software application with the promise that a manufacturing module would be included in the next product release That was nine months ago The salesman who made the promise has left the company the new contact person can t say what the development schedule is Now the company is forced to weigh the merits and costs of abandoning this system for another that s already manufacturing ready Conclusion make sure critical features you need are part of the current product you purchase 10 39 New Ideas for CFOs Accounting Software Checklist Software structure Options for customizing the product Product written in a popular high level language Ability to generate custom reports without programming Ability to modify input content format screens etc Product uses database fields to hold information Easy import and export of data to other programs Software features Runs under Windows 95 98 ME 2000 and XP Allows for easy remote access Can perform basic business functions you require insert your own list here Inventory control is adequate for your specific needs Wide range of available modules Wide range of vertical add ons Handles number of customers vendors and inventory items with room for growth Handles number of line items per invoice and sales orders with room for growth Allows adequate number of simultaneous users with room for growth Internet
17. p ACCPAC 39 New Ideas for CFOs mr j DAK GWNA Z Me Sa Bi Gi nm HL M a pu 4 ra AB Im dj 39 New Ideas for CFOs With the speed of globalization industry convergence and technological change CFOs are waging competitive battles on many fronts streamlining business processes leveraging new technologies and building value across the enterprise If your organization is facing challenges like these you need a paradigm for evaluating what s best for your business If you re thinking about implementing a new accounting system you ll want to gather all the facts before you make a decision The new system can impact nearly everyone in your corporation so each decision is critical The task is substantial and it can be tough to stay within your budget This guide is designed to give you good ideas and smart tips that CFOs accounting managers consultants and software publishers have shared with us over the years These guidelines should prove useful as you make your own business solution choices Although this guide is geared to helping you be successful with software implementation you ll find that we don t even mention our own products in it We re confident that the more you know about selecting and implementing accounting software the more likely you are to seriously consider and ultimately choose ACCPAC In other words our software solutions stand up to the most
18. p data frustration slow turn around time consuming or manual processes begin your needs analysis now Many professional systems analysts use the steps below Keep them in mind as you evaluate your system needs 2 Accept the fact that improvements cost money Implementing new accounting software will require an investment of time and money But the hidden costs of antiquated systems are sapping your productivity and softening your competitive edge Remember that the right system will pay for itself with process improvements and better data for decision making Many businesses are choosing more modern automated systems for faster processing of accounting transactions easier retrieval of accounting information and better formatting of accounting reports Keep these benefits in mind when considering return on your investment 3 Don t ignore hard to quantify benefits A new system will deliver broad improvements whose overall impact may be difficult to calculate with How to Create an Accounting System Needs Analysis Clarify all the accounting modules your department currently uses and requires Identify all the information that flows through the accounting system Determine the information sharing requirements between the accounting system and other departments Define all categories of accounting transactions Calculate the total number of transactions of each type for a typical accounting period
19. r demo have the consultant y present their features in the order of your The Brand X Chronicles True Stories from the Front Lines Company L is a large growing distribution company with multiple locations They purchased a high end product that had been installed at much larger companies But the implementation cycle was long and expensive After six months the system still hadn t progressed to a parallel testing phase Two million dollars later the company cancelled the project and moved on after having to explain to their board how they got into this situation In the end they ultimately chose a less expensive product engineered to work out of the box for companies their size The system was successfully deployed in four months Conclusion buy a product that s targeted at companies like yours Company V is a technology company with lots of in house IS and programming talent They decided to write their own system Not only are they still struggling but also their IS director confides he s got to find a way to go mainstream He s afraid to move forward because of the painful conversion they face going from a proprietary to an open language environment Plus they run the added risk of dealing with this custom developed system if and when they lose their original programmers Conclusion don t create your own package from scratch Take advantage of the investment software companies make in research and development Compa
20. rds for a final product are so high b You don t like to start a project until it s fully defined c Other people don t understand that skipping sequential project steps is a very bad idea d You take on more work than you can finish 4 When you come back from a trip you are most likely to tell friends about a Climate location and interesting buildings or transportation b Historical information background about the area and the museums you visited c The itinerary you followed d An unexpected adventure 5 When you got in trouble as a kid it was usually for a Taking things apart or not keeping your hands to yourself b Wanting to know everything that was going on or asking too many questions c Resisting change and sticking to old rules when new ones were enacted d Being bored and acting out or talking too much 6 Your department will move to expanded office space next quarter You start planning by a Walking through the new space and reviewing the floor plans with the facilities manager b Asking your managers to submit lists of their requirements for office and cube allocations computer systems etc c Asking the facilities manager to develop a project plan for all phases of the construction and move d Calling a meeting with your entire staff to announce the project 7 You want to show the key features of your company s accounting system to your newly hired controller You a Give yo
21. ready for e business Software operation Does not require excessive mouse use Tests for errors i e duplicate customers incorrect item numbers and unreasonable quantities Notifies operator of unusual data and offers valid choices Allows more than one user in one module at a time System allows for returns with accurate cost tax and inventory accounts Documentation is understandable and easy to read Tutorials are worthwhile in depth and included with the product Training is available from qualified sources Steps to create business transactions such as P O s invoices etc are simple and straightforward Allows user to search other files while current file is open and in process Allows user to correct an error without canceling the entire transaction Provides detailed audit trails for errors Allows sensitive functions and reports to be password protected Allows you to specify and limit operations by user and time Software manufacturer Updates product frequently and provides bug fixes Provides a maintenance program Has active R amp D effort underway Has history of releasing product upgrades Has a large installed customer base Has technical support programs in place and available Has provided accounting software for more than 20 years Offers choices to run as a packaged application or ASP Managed Operations Excellent i C e O e o EOECOECECIEC UOBCEC BOR el eae RLL eh Adequate Deficient OUOUOUOU i C f
22. spend most of their time evaluating features The fact is however you should spend most of your time evaluating your own business The more you know about the problems you expect the new system to solve the better informed your final choice will be Know where in your accounting cycle you experience the biggest productivity losses and highest error rates Determine how inaccuracies are affecting your business Understand which tasks require automation Begin by identifying the problems you experienced this year because your existing system wasn t adequate 5 Create a task force Financial software affects many departments within your organization One of the easiest ways to insure cooperation is to involve representatives from other departments right from the beginning including not so obvious groups like Sales and Human Resources It may slow down your process and frustrate you especially if your old system is failing and you need to hurry the new project along But in the long run a task force saves time and hassles and guarantees that other departments will cooperate during the implementation phase 6 Aim high Many people don t aim high enough when they implement a new system Just about any product can deliver financial statements You should be looking for much more Think back to last year s planning sessions with your peers What information could have boosted productivity and profitability This might include c
23. stringent selection criteria We at ACCPAC look forward to helping you succeed in choosing the best business software solutions for your organization Five Useful Tips to Help Your Employees Embrace Change Tip 1 Build a case for change Identify the impact a new accounting system will have on your people the benefits and consequences of changing and not changing Tip 2 Keep your employees in the loop by providing information and clarity about what is happening when changes will take place and how their jobs will be impacted Tip 3 Invest in employee training to make the transition easier Tip 4 Give employees time to make the change and adjust to the new approach Tip 5 Support your managers as change makers Provide them with the tools necessary to successfully implement change 2 39 New Ideas for CFOs Getting Started The first step to implementing a new accounting system is evaluating your company s readiness for change Before you begin looking at new features and setting fast track timelines take time to set realistic goals and build momentum Pre production planning is the key to success 1 Change before you have to By the time you are certain that your current systems are inadequate you re probably already losing money to reduced productivity lost opportunities and inferior data Don t wait until that happens If you re receiving warning signs that your system can t keep u
24. sure the system can Embrace industry standard technology quickly and easily Customize easily to fit the special needs of your business Deploy flexibly to new IT paradigms such as Application Hosting m Scale to the changing size of your business 11 Make integration a high priority Tightly integrating your financial accounting software with your other business management solutions can significantly improve your bottom line Linking all functions internally and linking to customers suppliers and other business partners externally can dramatically reduce lead times and waste throughout the supply chain You ll streamline operations and gain a competitive edge by integrating your Web store customer relationship management supply chain and human resource management applications When evaluating accounting systems check to see how seamlessly they integrate with other solutions Tight integration will save you time promote greater efficiencies and add value to your business 12 Manufacturers Distributors Evaluate automated shipping and distribution solutions Inventory that sits in your warehouse is cash your business could otherwise be using When considering accounting software study what options are available to link the system with your warehouse management system Tight integration will pay your organization huge dividends in the form of reduced inventory cycles more efficient warehouse operations
25. t the most out of your new system 33 Conduct an interview Arrange a meeting with the consultant and your task force The focus of the interview should be how long the process will take what applications the vendor can provide and how he or she can help you benefit from them axot on details of specific software or systems 34 Ask for references Has the consultant installed accounting software at companies similar to yours Ask about company size number of employees and nature of the business Ask for contact names and phone numbers then call to learn as much as possible about the customers working relationship with the reseller 35 Listening skills are as important as product skills If the consultant doesn t listen effectively chances are you won t be satisfied with the final outcome During your first interaction notice if the consultant seems more interested in pushing a particular product instead of analyzing your needs Avoid people who try to impress you with jargon and who immediately start talking about features of equipment and programs 36 Find a reseller you can work with The consultant will be a virtual member of your company for weeks You may even end up with a long term relationship if the consultant helps change and extend your system as your company grows Choose a consultant who comfortably fits your company s philosophy and culture 37 Avoid RFPs Contrary to what your colleagues may
26. tant characteristics of your system is its scalability Open architecture scalability ensures your system can grow along with your company 23 Look for software vendors that invest in research and development A good company invests heavily in engineering and develops new product features and enhancements regularly These companies stay abreast of new technologies and make sure their customers do too A good software manufacturer will provide frequent upgrades at reasonable prices 24 Explore what support will be available to you Find out what technical support each software manufacturer makes available to its customers What days of the week and times during the day are telephone technical support specialists available What costs if any are associated with various levels of support Does the manufacturer provide classroom self study or Web based training programs How frequently does the manufacturer keep in contact with customers regarding product announcements upgrades etc You will need assistance getting the most out of your software the best manufacturers provide this assistance 25 Documentation reflects software quality You rarely find excellent documentation with poor software Clear accurate and useful documentation takes time to produce and indicates a long term commitment to users You ll save time hunting through manuals if the documentation is included electronically as help files within the appli
27. tell you creating and sending out an RFP is not the most effective or efficient way to find the best software solution The process of creating an RFP sending it out waiting for proposals and reviewing them requires substantial internal time and therefore expense You can achieve the same results in days by simply making a list of the ten to fifteen features you must have calling potential vendors on the phone and asking if their system can provide them You can narrow your list down to the three finalists you plan to interview just by spending a few hours on the phone Self Test Your Buying Style Answer the following questions to analyze what kinds of characteristics you ll need in a consultant Don t over think your answers Go with your instincts 1 When you earn recognition for a project or presentation it s most often for a The quality of your work b The accuracy of your data c The consistency of your style d The quality of your ideas 2 During a meeting people discuss a new product idea You would be happiest if you could a See a prototype of the product so you can understand how customers will perceive and use it b Review the product specs target customer profile data and a run down of key features c Get detailed notes and a list of clear action items once the meeting is over d Talk about the idea 3 When vendors and co workers get frustrated with you it s usually because a Your standa
28. ur own demo showing the shortcuts you use to generate the most important reports b Recommend he she read the user s manual before meeting with you c Have him her follow the online tutorial starting at the beginning d Go over the most useful features and skip the rest since they re not really important 8 When you buy a new car you re most likely to a Get out and test drive the top three or four models you re interested in b Comparison shop on the Internet before picking the models you want to test drive c Develop a checklist of your must have features and performance requirements d Test drive cars that use the most innovative technologies like night vision enhancements or the new hybrid gas electric models 9 The reward that would most motivate you at work a The corner office your own assistant and a dedicated parking space b A better job title c Stock options and a retirement plan that will set you for life d Promotion to an international position that will require travel to all the countries you ve always wanted to see 10 The board of directors is having an unscheduled meeting Your CEO gives you 20 minutes to pull together a presentation on this quarter s sales figures Normally you d spend two hours on this project Instead you a Show up and simply answer any questions the board puts to you Any presentation you could have created would have been so bad as to be worthless b Gather some bac
29. urrent gross profit by product customer or salesperson or trends on how customers and products are growing or declining You may want to use financial ratios to measure your company s performance against your competitors Benefits of Accounting Software Modules Plan and Reduce Shorten Reduce Increase Control Manage Control Growth Labor Costs Billing Cycle Inventory Sales Costs Cash General Ledger yes yes yes Accounts Receivable yes yes yes yes yes yes Accounts Payable yes yes yes yes Purchase Orders yes yes yes yes yes yes Sales Orders yes yes yes yes yes yes Inventory yes yes yes yes yes yes yes Multicurrency yes yes yes yes Job Cost yes yes yes yes yes Payroll yes yes 39 New Ideas for CFOs 3 Considering Integrated Solutions Here are Some Questions to Ask m Which manual tasks would benefit the organization by becoming automated m How are inaccuracies negatively impacting your organization m What information or reports are being requested that currently cannot be created or delivered How can your current system or processes integrate with your e business initiatives m What information do you need to make strategic decisions What do you need to effectively manage customer relationships Make a list of the challenges you are currently experiencing Then create a second list of what you d like to do but are unable to do now T
Download Pdf Manuals
Related Search