5 Key Steps to Successfully Migrating to a New Financial Accounting Software

As businesses bid farewell to their chaotic spreadsheet system in favor of top-notch financial accounting software such as Microsoft Dynamics or Business Central, gearing up for the transition can seem like a monumental challenge. Whether you're struggling because you're outgrowing your current system or you're just ready for a cloud ERP system change, you need to have a plan in place for when you make the switch. 

Transferring your reports, payroll, receivables, payables, and a myriad of financial data from one system to another can be a daunting task. However, with proper preparation, companies can successfully navigate this challenge with reduced stress compared to those who attempt to migrate without a solid plan.

PREPARING FOR ACCOUNTING SOFTWARE MIGRATION

The truth is that you simply can’t do enough preparation for a move. With that in mind, here are effective ways to prepare for a successful migration to financial accounting software such as Microsoft Business Central.

  1. Clean up your data.
    Avoid introducing disorganized data into a pristine system. Doing so poses the risk of replicating the same errors prevalent in your spreadsheet setup. Instead, invest time in rectifying misspelled terms, eliminating unnecessary prefixes, and addressing simple errors that demand meticulous scrutiny. Utilize the "find and replace" function to detect duplicate entries, eradicate any empty rows, and always remember to backup your data before making any modifications. Caution cannot be overstated.

    Additionally, consider outsourcing data cleansing services from third-party providers if your data requires extensive tidying up. Hiring a professional to address particularly messy information could also be a viable solution.

  2. Organize your current spreadsheet system.
    Evaluate your existing workflows and internal processes to ascertain their efficiency and relevance. Opt for importing only essential data into your new system, as outdated information like past customer details may not be required for migration.

  3. Improve your existing financial processes. 
    When integrating your data into a financial accounting system, it's crucial to seize the opportunity for process enhancement. If you've been following a certain method simply out of habit rather than efficiency, it's time to reassess and optimize your procedures. Review areas such as workflow, data storage, permissions, and backup protocols for potential enhancements. Take a close look at how receipts are stored and the requirements of your approval processes. This is the perfect moment to iron out any kinks in your financial management procedures.

  4. Make sure the timing for the movement is perfect. 
    Timing is crucial from an internal business perspective. It's no secret that a migration can cause disruptions, so it's wise for retailers to steer clear of busy holiday seasons. For companies in the financial services industry, avoiding the end of the fiscal year or tax season is key. Choose a time that aligns with your business operations, ensuring that internal resources and process owners are available and prepared to handle the transition with the necessary time and focus.

  5. Pick a champion. 
    Cloud providers have found that having a designated champion within the company can significantly streamline the migration process. This individual will serve as the expert liaison between the business and the provider, ensuring a successful transition.

 

Microsoft Dynamics is your next step

Ultimately, the key to a successful migration lies in partnering with a software vendor who prioritizes seamless transitions. Reputable providers will collaborate with you to simplify these complex processes, easing the burden for all parties involved. While migrations are inherently challenging, they need not be a source of dread for your organization.

Still trying to figure out the ins and outs of your current system? Or maybe you're fed up with trying to understand Microsoft Business Central and need some help navigating that. Contact us, we'll get you the answers you need so you're prepared every step of the way. 

Originally published on April 1, 2024

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About the Author

Emily Kirk Emily Kirk

Creative content writer and producer for Centre Technologies. I joined Centre after 5 years in Education where I fostered my great love for making learning easier for everyone. While my background may not be in IT, I am driven to engage with others and build lasting relationships on multiple fronts. My greatest passions are helping and showing others that with commitment and a little spark, you can understand foundational concepts and grasp complex ideas no matter their application (because I get to do it every day!). I am a lifelong learner with a genuine zeal to educate, inspire, and motivate all I engage with. I value transparency and community so lean in with me—it’s a good day to start learning something new! Learn more about Emily Kirk »

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